I've been reading several of the answers posted by advisors and feel that some of key variables are left out. I'm dually licensed, so I can either go the commission route or fee based. The key questions are how much income
Tunc made the most important consideration - consider age and access to the funds. There are enough places to open an IRA with no annual account fee that your advisor shouldn't recommend a custodian that charges them.
Each plan document specifies whether multiple loans are allowed. The existing loan hints that you've dipped into the 401(k) before (presumably not for a house), so you are already paying off that loan. A few points
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