Saving for a house down payment

[RaibeartBruis]

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.

[RaibeartBruis]

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.

[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

[RaibeartBruis]

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%.

[CanardMedic]

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.

[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.

[RaibeartBruis]

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.