After setting a new home budget, you can begin to search for your new home alongside an experienced Realtor or independently.

It's important to get a handle on what your needs are in a home. Do you need a larger kitchen? A two car garage? Longing for a pool? It's best to sit down, with your spouse if you have one, and make a list of everything you want in a new home.

Then, rearrange the list, chosing the items that are "must haves," and those you feel you can compormise on.

After this process is complete, and aided by the knowledge of how much house you can afford, you're ready to go house hunting!

In short, you need to prove that you qualify for a hardship withdrawal. "Immediate and heavy" need are words that people will use to refer to someone in need of a 401k hardship withdrawal. Your employer will certify that you meet the plan's conditions.

A 401k withdrawal should be used only as a last resort after all other options have been exhausted.