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Reply to "Saving for downpayment"
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[quote=Anonymous]How far into the mortgage are you? If it's recent enough you're paying tons of interest, put the grand into the mortgage. It may be 3.5%, but up to 80% of your regular payment may be going to interest rather than principle due to amortisation. Have a look at your statement. Do not put more than half of it into anything risky, and only if you're willing to delay your move if the worst happens. Are you maxing out your 401k? If not, have a look at the loan requirements. If they're favourable (don't have to pay back immediately if you leave), consider stashing some of the extra money there. You can take 30 year loans out from most 401k for a house purchase. Don't take the loan if you are already maxing! The only exception is if your investment options suck (high loads, etc).[/quote]
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