WebDec 19, 2024 · To apply for a TSP loan, log in to My Account to begin the request. You don’t need to complete a paper loan application, but you may need to submit supporting documentation, depending on the type of loan you request. My Account Request an in-service withdrawal or post-separation distribution WebMar 4, 2024 · There are two different types of TSP loans: General Purpose TSP loan; Primary Residence TSP loan; A general purpose TSP loan is essentially a personal loan, and can be used for anything. Borrowers can choose between a loan term of one to five years, and they do not need to provide documentation to take out the loan. ... For a …
Retiring With an Unpaid TSP Loan? Here’s What You Need to Know
WebAug 19, 2024 · TSP General Purpose Loans 1. Single loan limit: Federal workers are only allowed one outstanding general purpose loan at a time. If you have already tapped … WebApr 12, 2024 · Yes, you can take one of each loan at the same time. That said, if you take out the full 100, you will be looking at a pretty healthy monthly repayment, considering the general purpose loan has to be repaid within 5 years. 04/11/2024 19:32 Subject: 2 TSP loans at once, for total of $100k? Anonymous The market is down. You will cement your … poms special issue
Thrift Savings Plan - usbr.gov
WebSep 27, 2024 · Money-Out (Withdrawal) Changes TSP loan processing fees for a primary residence increased to $100 and participants can have two loans outstanding at one time: two general purpose loans or a general purpose loan and a primary residence loan. WebThis means that you could have two general purpose loans out or one general purpose loan and one primary residence loan. You cannot have two primary residence loans out … WebMar 1, 2024 · Post-transition, a participant may have two outstanding loans per TSP account as follows—(i) a participant may have two general purpose loans, or (ii) she or he may have one general purpose loan and one residential loan. As required by IRS rules, the maximum loan term for a general purpose loan is 60 months and the maximum … poms spend down