5. Pay back the loan: Tsp financing need to be paid off through payroll write-offs, and you will probably provides to five years to repay the mortgage. Just remember that , for people who exit your work through to the loan is reduced, you will need to pay off the full balance within 3 months so you can avoid punishment and you will fees.
Whenever you are taking right out a tsp financing is a way to get quick access so you’re able to dollars, it is essential to weigh the huge benefits and you will cons before generally making good decision.