No
You can get a bigger break if you withdraw the money from a Roth IRA. You can withdraw Roth contributions tax-free and penalty-free at any time for any reason. After you withdraw your contributions, you can withdraw up to $10,000 in earnings for a first-time home purchase without a 10% early-withdrawal penalty.  IRS Publication 590-A specifically says borrowing from your IRA is a prohibited transaction. But, if you only need the money for a month or two, and are certain you can repay it, you might be able to access the funds in your IRA without tax consequences. One way to move money from one IRA to another is a rollover, where you take a distribution from one account and then, within 60 days, redeposit the money in another IRA. However, the rollover rules don't restrict what you can do with the money while it's between account However, IRS rules do not restrict how funds from a rollover distribution can be used. IRS rules allow people to take a rollover from an account once per 12-month period. A rollover can be beneficial if you need to use money from your IRA for up to 60 days. For example, if you expect your end of year bonus to be paid in six weeks, but need money for a car down payment, you could take a rollover distribution and repay it with the bonus. Step 1. Step 3. Redeposit the money in a qualified retirement account within 60 days. A qualified retirement account can include the IRA from which you took the distribution. If you fail to redeposit the money in 60 days, the rollover will be considered a distribution. Borrowing is more commonly associated with 401k’s, 403b’s and cash value life insurance policies. With IRA’s, “borrowing” or taking a short term loan on your IRA is not allowed. You are allowed to withdraw money with a 60 day grace period to put the money back; it’s considered to be a 60 day rollover. Other Words of Caution. To get money out of the IRA, you’ll have to liquidate your holdings to raise the cash. That means you’ll have to sell your mutual funds, stocks, or ETF’s. A lot can happen in 60 days in the market, so you’ll be missing out on what gains (or losses) occur in that time frame. If you rolled the funds over from a traditional IRA into a Roth IRA the amount rolled over or may not be available for penalty fee withdraw for five years. So if you have a traditional IRA with $10,000 in it and in 2010-year-old that over into a Roth IRA, you will not be overtake out the $10,000 until 2015. Many people wonder if they can borrow money from a Roth IRA. The answer is you don’t have to. With a Roth IRA the principal amount can be withdrawn without any tax consequence because you’ve already paid taxes on it. A: Technically, you can’t borrow money from a Roth IRA, at least not like you would from a traditional loan, but there are other options. The IRS does allow you to withdraw money from your Roth IRA, but you might have to pay a penalty. There is a way to work around the IRS’s requirements if you only need to borrow money for a short period of time by rolling over the money that’s in your account. 
http://www.kiplinger.com/article/real-estate/T010-C001-S003-tapping-an-ira-for-a-home-down-payment.html http://www.ehow.com/how_4471298_borrow-from-ira.html http://smallbusiness.chron.com/can-borrow-against-ira-688.html http://www.goodfinancialcents.com/can-you-borrow-from-an-ira-without-penalty/ http://borrow-ira.w9z.org/can-i-borrow-from-my-roth-ira/ http://www.investopedia.com/ask/answers/102714/how-can-you-borrow-roth-ira.asp
can you borrow money from an ira