Who is eligible for a Plan loan? Any active employee who is a participant in San José 457(b) Deferred Compensation.Please see more information in the Payoff Demand Instructions. Fill out the form below to request a loan payoff letter. If you have any questions, please contact Loan Customer Service at 1-800-677-6272 option 5, option 2. 401(k) loans are appealing because they are quick and convenient. Since you're borrowing from yourself, there's no credit check and no application. If you would like to make a loan payment, please visit the Loans page of your Guideline account. Then, click the "Make a payment" button. I was wondering if anyone has been involved in originating or receiving loans from a 401k to purchase a property.