Can I take a loan from my retirement account?

In most cases, yes. However, not all retirement plans allow participants to take a loan. If you are eligible for a loan from your retirement plan, the minimum amount you may borrow is $1,000. The maximum loan amount is the lower of the following:

1) 50% of your vested account balance 


2) $50,000, less the highest outstanding loan balance in the preceding 12 months

Loans are available for terms between 1 and 5 years or between 1 and 10 years for a principal residence loan. Repayments are drafted monthly from your financial institution on or around the 5th or 20th.

The interest rate will be fixed at the time the loan is modeled at 1% above the prime rate as published in The Wall Street Journal. All interest paid, along with principal, will be credited to your retirement account. A loan origination fee of $50 and an annual maintenance fee of $40 will be assessed upon issue of the loan.

If you would like to take a loan, you may do so by logging into your MyGuideStone® account and completing the steps below:

1.    Click the “Retirement and Investments” tab

2.    Click “Loans”

3.    Under "Loan Modeling", click “Model a Loan” to open the tool

Click here to log in and model a loan now. If you have not created a MyGuideStone account, simply go to, click on “Register now with MyGuideStone” and follow the steps for registration.

Depending on your plan, your loan application may have an Employer Verification section. This section must be completed in order to request a loan even if you are no longer working at the employer with whom you participated in the retirement plan. It should be completed by the Human Resources department or Benefits office.

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