dad_husband_selfi t1_jaequj2 wrote on February 28, 2023 at 10:19 PM

Reply to Need Some Advice - Best Way To Tap Into Home Equity? by JumpinJammiez

0% sounds pretty good to me!

Yes, a HELOC or HELOAN would be the way to go. Don't touch the first!

dad_husband_selfi t1_jaazolg wrote on February 28, 2023 at 3:07 AM

Reply to comment by DayShiftDave in What to do with cash on hand? by DayShiftDave

sorry, i was meant with humor. Good for you saving up that amount of cash. Good problem to have! lol. There's a lot of savings accounts that now offer decent yield. I saw Marcus by GS is up to 3.750%. If unsure to buy a home or invest in the market, that may be a good holding spot.

dad_husband_selfi t1_jaasd5t wrote on February 28, 2023 at 2:12 AM

Reply to What to do with cash on hand? by DayShiftDave

Well, you can take advice from Warren Buffett the greatest investor of all time and invest in a low cost S&P 500 fund (which you should have been doing as you were accumulating) or you can take advice from randoms on the internet. Tough call.

dad_husband_selfi t1_jaas0vb wrote on February 28, 2023 at 2:10 AM

Reply to Pay cash, HELOC or 2nd mortgage? by onedollarshrimp

Cash. HELOC rates can be like 8 or 9%... or even higher.

dad_husband_selfi t1_ja9qpvh wrote on February 27, 2023 at 9:47 PM

Reply to How to shop around for mortgages? by __bar_code__

Best way is to get Loan Estimates from multiple lenders. The CFPB created the Loan Estimate to make it very easy for home-buyers to shop many lenders by comparing apples to apples.

Despite the government's effort, according to the CFPB 76% of home-buyers only get 1 Loan Estimate.

So don't be afraid, now is the time to shop, shop, shop. Credit Bureaus enable all your hits to be counted as 1 inquiry within a shopping window.