Where Should You Save Your House Down Payment?

Where Should You Save Your House Down Payment?

Let’s make sure you’re on the path to financial success - then help you stay there!
The Money Guy Show takes the edge off of personal finance. We’re financial advisors that believe anyone can be wealthy! First, LEARN smart financial principles. Next, APPLY those principles! Then watch your finances GROW!

We can’t wait to see you accomplish your goals and reach financial freedom! New shows every week on YouTube and your favorite podcast app. Thanks for coming along on the journey with us.

[MrHandros]

I bought my first house in 2010, foreclosure and I was liquid and ready to buy, such a great deal on the house.

[OctogonOxygen]

4:00 dude this is intense BIG BRAIN knowledge

[Bigcity]

I am liking the newer set now, must be the brightness of it compared to before. Thanks for all the information that you and your crew provide us!

[spartansfan]

Worth considering that housing is currently a seller's market, as far as I've seen. I don't think any buyer in my area would stand a chance of making the sale if they tried to submit an offer with less than 20% upfront.

[gearoidkingston]

Hi Guy's, it's my first time commenting on your show. So thanks for all your great work. I fully enjoy listening. Where would you advise putting the cash to maximize return and minimize risks while waiting for the housing market to soften? Thanks, Gar

[benlaine]

Watching this in 2024 and hearing "in this low interest rate environment" is so painful

[austinprice]

Any thoughts on using offshore bank accounts for their higher interest rates when trying to save money short-term for a future purchase? Rates appear to average between 3-6% annually. Thanks for any insight.

[leee]

I didn’t have to put a dollar down when buying my first house, and the sellers paid the closing costs.

[andrewmrcz]

3% seems very low for a down payment on a house. Dave Ramsey recommends 20%, and even if you think that’s too high 3% is far in the other direction. What’s the logic behind such a low down payment instead of something more in the middle like 10%?

[yolandastrickling]

I’ve been trying to look into getting a S&P 500. Are there any credit unions that do that? Where is the best place to start with a SMP 500

[DoubleOddJosh]

I can get up to a $50, 000 loan at prime rate (about 4.25% right now) with a term of 120 months (10 years) through my 403b at work for a down on a home. Would this be a good idea or bad idea?

[pigskinrode]

I'm 42 and haven't owned a house yet. I honestly feel like a huge disappointment. I've put too much effort into long term relationships and looking back hindsight, I should have just focused on a home. So now I'm trying to work even harder to make my dream a reality. While I'm very happy for all the first-time home buyers, I'm also jealous because I didn't make better decisions. However, I'm working on saving 800+ a month. Between my 3 savings accounts, emergency fund, Home and just forget about it savings. The home account will probably be a HYSA .

[Rubenmontesrd]

What about your money losing value because of inflation?