Can i borrow or take money out of my 401k

yes a percentage of 30% can be borrowed after a year but you will have to payyourself back plus continueing to put in plus payback the loan.

Yes, most 401k's will allow you to borrow against you vested balance without any withdrawal cost. You will basically be paying yourself % for the loan term but keep in mind that what ever is borrowed will not be making any gains through your 401k. also if for some reason you are not able to pay the loan you will also be charged just as if the loan was an early withdrawal. These charges are normally 10% plus taxes.

Yes You can borrow money.

Contact you HR Personnel . They will tell you how to get an application. Provideded you are 100% vested in your job and you have the required amount in your account.

If you take money out in the form of a withdrawal (not a loan) you have to include it as income on your tax return in the year you took it out.  In addition, if you are under age 59 1/2 you will incur a 10% penalty of the amount you took out on your tax return.  A loan is better, but if you don't pay the loan back, the above will apply. If this is a former employer you can withdraw the money and roll it directly into an IRA without paying income taxes or incurring a penalty.  Your HR dept. or former employer HR dept should be able to provide you with addtional details.

Yes, you can borrow money from your 401k.

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