Pulling $ out of Roth/IRA for downpayment?Hi, My husband and I are in the process of selling our current home and buying a short sale. We would rather not pay PMI but rather put 20% down payment on the SS. We are both 33 years old and have a 10% down payment in savings. Should/Could we each pull $10k out of our Roth/IRA to make up for the other 10%? My husbands name is not on our current mortgage but is on the deed - so would he qualify as a "new home owner"? Also, can I take $10k out in my sons name (even though he is a child)? My main goal is to reduce our payments...to ensure we can carry the first house until it sells. I would like any thoughts or opinions or even past experience information on this sort of situation... Thanks in advance!November 04 2011 - Myrtle Beach0YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.