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.