If you are younger than 59 1/2 you will pay a 10% penalty. Before you receive your funds the amount for taxes will be deducted before you receive any funds. I'm warning you because you probably won't get the money you're looking for. This is to discourage you from early distributions. Try to find another source of money and keep this safe for retirement when you will have fewer options.

You can provided you are over the age of 59 and a half. If you are younger than this then there will be a penalty attached. However if you do not need all the money why not take a loan from the 401k. This should not incur a penalty. A cathynowin has said the money you take from the 401k will be taxed leaving you with less money than you anticipated getting.