cosjobs
Footballguy
Answers above to q's.I would want to know some more info to make a good decision.... Here are things I would think through...
Where is that money going to be? ---I'll probably start in FDIC account or possibly precious metals. In this climate, somewhere very very safe/conservative, like inflation protected treasuries or maybe % precious metals
Will I expect a higher return of 3.125% on it plus $1500 on it? -In the future. Now we are battening the hatches and fattening reserves for the expected pandemic
Or is it going to sit in a bank account making next to nothing? possibly for for the FDIC insurance
Is this money that is extra padding to your personal reserves or is this your reserves (meaning, do you have 3-6 month emergency fund with or without this money)? Padding. Cash may be king near term
What is the likelihood of me needing to tap into the cash? If low, then maybe setting up a HELOC to act as that backdrop if needed makes sense. Pretty slim.no interest HELOC.
Also, no pricing difference on 80% vs 90% LTV on the rate? yes, no diff in rate. but I do have to pay .391 point at closing
Basically I want as much readily available, safe funds as possible for the near term. I have Roth, 401K, all that.