What are the benefits of using a 403b plan for a first-time home buyer?

A 403(b) plan can be beneficial for a first-time home buyer because it allows them to save for a down payment on a home while also saving for retirement. Contributions to a 403(b) plan are made on a pre-tax basis, which can lower taxable income and potentially increase the amount saved. Additionally, some 403(b) plans allow for penalty-free withdrawals for first-time home purchases, providing a way to access funds for a down payment without incurring early withdrawal penalties.