Can I withdraw from my IRA before 59½ without a penalty?

No. There is an IRS penalty of 10% that you would pay on your taxes when you file.  You would also be charged a penalty on the IRA CD if withdrawing before the maturity date. 

There is no IRS penalty on money used for 1st time home buyers ($10,000.00 max), deceased owner, or funds used for educational expenses, but the early withdrawal penalty would still apply. We recommend consulting with a tax preparer for tax advice.