Can I borrow from my 401(k)?

[Cased Heel]

I'm a young guy who just started a 401(k) account. I've heard you can borrow a % against your 401(k) account for the purchase of a home? Is this true? Or does it have to be a RothIRA that you borrow from? Are there penalties for doing this? Please help me. I hate the idea of banks making money off me. I'm like an old prospector or something. My goal is to pay cash for a home.