Northern Illinois Real Estate Videos & Market Updates
Get straightforward real estate advice, housing market updates and local insights from The Kombrink Team. Our Northern Illinois real estate videos cover home buying, selling, home prices, mortgage rates, home equity and current market conditions throughout Geneva, St. Charles, Batavia, Aurora, Elgin, Naperville and communities across Kane and DuPage Counties.
Whether you're planning a move or simply keeping an eye on the market, browse the latest videos below or choose a topic to get started.
Should You Use Your 401(k) To Buy a House?
Thinking about tapping your 401(k) for a down payment? It can be tempting, especially when saving enough cash feels like the biggest hurdle to buying a home. But accessing retirement savings early can come with taxes, potential penalties, and the bigger long-term cost of missing out on future investment growth. Before touching your retirement account, explore other possibilities. Qualified buyers may be able to use an FHA loan with as little as 3.5% down, and down payment assistance programs may also be available. Talk with a qualified financial advisor about the financial side, and if you're wondering what home-buying options are available in Northern Illinois, contact The Kombrink Team at 630-402-0021.
I've seen some buzz lately about tapping your 401(k) to help buy a home. And if you're struggling to save for a down payment but you’ve got retirement savings, I get why that’s tempting. A lot of folks have a hefty amount saved up. With that kind of money sitting there, reaching for it to cover a down payment feels like an easy call. But pulling from your 401(k) early can cost you in penalties and taxes, and mean less growth in your account over time. That’s why it’s important to know you have other ways to cover your down payment. Like F-H-A loans, which let qualified buyers put down as little as three-and-a-half percent. You can also look into down payment assistance programs. So, before you decide, talk with a trusted financial advisor. They can walk you through your options and help you decide if the pros and cons are actually worth it.