How is the 401k loan interest compounded?

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401k
mishatim asked:

I want to understand if the 401k loan interest schedule is different from a mortgage interest schedule. For example, in a mortgage payment the interest is the most of it. Is it the same with 401k loan?
Reason for asking is to see if it makes financial sense to use 401k loan to pay off a mortgage on a property. Thanks!


Question posted courtesy of: Amy
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    • This entry was posted on Wednesday, August 13th, 2008 at 8:59 pm and is filed under Financial Planning. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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