: Like any loan, you must pay back the principal plus interest. You may also face administrative fees from the provider. Risks and Consequences
: If your provider doesn’t offer direct loans, you might be able to use the annuity as collateral for a loan from a bank or third-party lender. can i borrow from my annuity to buy a house
: If you choose to withdraw money instead of borrowing it, you might be hit with heavy surrender charges (sometimes as high as 7–20% ) if you haven't held the contract long enough. Exceptions for First-Time Homebuyers : Like any loan, you must pay back
AI responses may include mistakes. For financial advice, consult a professional. Learn more Can I Borrow from My Annuity for a House Down Payment? : Like any loan