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Forum » More General Categories » Education/Career/Finance » Saving for a house down payment
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Thread: Saving for a house down payment

post 1691041903 10-02-2023, 09:33 PM
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  1. RaibeartBruis
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Saving for a house down payment

Got a high-yield savings account at 4.8%

Aiming for a 1/3 down payment.

Ok to move some money over from my brokerage account to expedite the saving process? I'll incur some capital gains taxes, but I can offset those with harvested losses.
HTC

STEMcel

Xboxcel
post 1692380283 10-27-2023, 04:57 AM
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Went ahead and made the transfer. I think I'll end up putting 50% down actually, on a new build most likely.

Kinda nutty to see the interest on $200k+ in a HYSA.
HTC

STEMcel

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post 1692506863 10-29-2023, 12:13 PM
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  1. CanardMedic
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You use wealthfront?
yea it's nice to cash flow about 800 a month from a HYSA. I still think it's better to buy property than leaving money in a HYSA. WHy are you doing 1/3 down? just do the 20 % and keep the rest in the HYSA
post 1692551213 10-30-2023, 08:55 AM
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Originally Posted By CanardMedic⏩
You use wealthfront?
yea it's nice to cash flow about 800 a month from a HYSA. I still think it's better to buy property than leaving money in a HYSA. WHy are you doing 1/3 down? just do the 20 % and keep the rest in the HYSA
Yep WF is goated

A house loan will have higher interest than WF pays so I figure I should have a hefty down payment? 6.5-7% vs 4.8%.
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STEMcel

Xboxcel
post 1692588423 10-30-2023, 10:43 PM
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Originally Posted By RaibeartBruis⏩
Yep WF is goated

A house loan will have higher interest than WF pays so I figure I should have a hefty down payment? 6.5-7% vs 4.8%.
I see what you're saying. I mean if you can do 1/3 go ahead, I'm in So Cal so 1/3rd is a pretty horrendeous down payment.
post 1692746423 11-03-2023, 02:32 AM
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Make sure there's no restrictions on moving the money.. If they only allow 60K max/month you might be screwed

If youre in SoCal look at BluPeak- offering 5.33% for new members, no restrictions aside from max amount of withdrawals per month.. but you should only need it once or twice if its for a downpayment.
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post 1692784493 11-03-2023, 07:02 PM
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Originally Posted By BullittEV⏩
Make sure there's no restrictions on moving the money.. If they only allow 60K max/month you might be screwed

If youre in SoCal look at BluPeak- offering 5.33% for new members, no restrictions aside from max amount of withdrawals per month.. but you should only need it once or twice if its for a downpayment.
Good point - I hadn't though of that. Looking at the Wealthfront website, I'll be able to move $50k per day with an ACH withdrawal. So I'll have to plan 7-10 days ahead.
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