Hassett reveals Trump housing plan would let Americans tap 401(k)s for down payments [FOX Business Network]
NerdWallet, Inc. (NRDS)
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Source: FOX Business Network
As the Trump administration has put housing affordability in the spotlight recently, one of the president's top economic advisors unveiled how Americans might be able to use 401(k) funds for a home down payment. "The typical monthly payment about doubled for an ordinary family buying an ordinary home. And the down payment they needed to buy a home went from about $15,000, to about $32,000. And so there's a real lot of room to make up," National Economic Council Director Kevin Hassett told FOX Business' Maria Bartiromo. "We've got a whole bunch of policies that are going to help people do that," he continued. "The one you didn't mention that we're also talking about, and the president will put the final plan out in Davos next week, I'll be flying up there with him, is that we're going to allow people to take money out of their 401(k)s and use that for a down payment." Hassett was discussing Trump's renewed proposal to direct his representatives to buy $200 billion in mortgage-ba
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