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 

Or

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 the first annual maintenance fee of $40 will be assessed upon issue of the loan. Subsequent annual maintenance fees are applied annually on the anniversary date of your loan. If you would like to take a loan, you may do so by logging in to your online MyGuideStone account. Once logged in, you will find the loan tool by following 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

4) Once you have completed the steps to model the loan, please choose an existing bank account or add a new one, and then provide your electronic signature.

5) Your Loan request is now complete, unless the following applies:

  • If your loan application requires Spousal Consent, you must print the application and have your spouse's signature notarized. 
  • If your withdrawal application requires Employer Verification, you must have an authorized official from your employer fully complete this section (or previous employer if separated from service). You are not permitted to complete this section yourself. An electronic signature is permissible for the Employer Verification section.

Please allow 1 hour for delivery of the loan documents to your "My Messages" tab.

By using the Document Uploader feature in MyGuideStone, your application will receive the fastest possible service. However, if you prefer, you may mail your application to the following address:

Benefits Administration

GuideStone Financial Resources

5005 LBJ Freeway, Suite 2200

Dallas, TX 75224-6152

For information regarding the CARES Act: 

    • Coronavirus Related Loan Payment Deferral option please click HERE


Click here to model a loan now

If you have not created a MyGuideStone account, simply go to MyGuideStone.org, click on “Register now with MyGuideStone” and follow the steps for registration.

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