Where to put proceeds from home sale

[jimh406]

I had 2.5% on th house I sold, doubt I ever see tbat again

It will be a while.

 

[Bonasababy]

Check around for loan terms. Our credit union charged two full sets of fees for the construction then mortgage loan. We saved a tidy amount with a local bank that allowed one to roll into the other more cheaply.

 

[accone]

Accountant here, but I don’t have a specific investment for your. My recommendation is to tell your bank or financial advisor the situation and ask their recommendation for the lowest risk but best yield over the period.

 

[BigHornRam]

Check around for loan terms. Our credit union charged two full sets of fees for the construction then mortgage loan. We saved a tidy amount with a local bank that allowed one to roll into the other more cheaply.

A lot of lending institutions will try to hit you twice for things like title insurance, appraisal, loan origination fees, ect, when taking out a construction loan that rolls into a mortgage. Many fees are negotiable. The OP has a substantial amount of cash from prior house sale, and should leverage with that when shopping for a bank to do business with. Till then, his 4% savings account with his employer sounds like his best option. Borrowing rates will be coming down in the near future.

 

[lexfurther]

what did you do? It might be wise to consider a mix of options, like paying off high-interest debt, investing in a diversified portfolio, and setting aside some for future needs. It's a complex decision that often benefits from professional financial advice. It's a bit like choosing a mobile payment platform, where you want security and convenience, which is why I've checked PalmPay reviews. Take your time and make a plan that aligns with your long-term goals.