bank advice

[flyny]

I need money saving tips

Someone help y'all sound like y'all got everything in order

luckyluchiano how much are you putting down on the house? How did you manage to save up that amount?

 

[luckyluchiano]

I need money saving tips

Someone help y'all sound like y'all got everything in order

luckyluchiano how much are you putting down on the house? How did you manage to save up that amount?

I'm not putting down anything , just had to pay for a few closing cost things and put up some earnest money. Look up down payment assistance programs in your city. I'm getting a ton of money so I was able to get a conventional loan because I got enough grants to put 20% down. It's money out here bro just have to educate yourself, and it depends in the city your in. I'm in Atlanta so they are giving money to people that want to move into areas they are trying to gentrify. I literally wasn't even thinking about buying a house but my mom told me "hey you got good credit, you'd be surprised what kind of programs are out there for first time buyers" so I didn't even have anything saved specifically for a home, just did a mortgage app and they looked at my debt to income and approved me.

 

[flyny]

I'm not putting down anything , just had to pay for a few closing cost things and put up some earnest money. Look up down payment assistance programs in your city. I'm getting a ton of money so I was able to get a conventional loan because I got enough grants to put 20% down. It's money out here bro just have to educate yourself, and it depends in the city your in. I'm in Atlanta so they are giving money to people that want to move into areas they are trying to gentrify. I literally wasn't even thinking about buying a house but my mom told me "hey you got good credit, you'd be surprised what kind of programs are out there for first time buyers" so I didn't even have anything saved specifically for a home, just did a mortgage app and they looked at my debt to income and approved me.

My man

 

[Hank Scorpio]

Roth IRA aside, I'd probably just open up an AMEX savings account and let the interest build up.

OP makes it sound like he just wants to stash his money and not have easy access to it immediately.

Also, for the NYC people who want to be homeowners and want assistance with the downpayment--this is the website with all the info.

http://www.nyc.gov/html/hpd/html/buyers/downpayment.shtml

 

[ddh1122]

Still a little confused by this. Maybe I need to sit down and re-read a couple times. I also wanna put my money into a different savings account, invest in some stocks, and make some good profit. I got a little over 1k to invest into something

 

[sneaks89]

You won't see much return if you put it in savings, the best interest rates are at online banks (ally, ge capital bank), or going to a local credit union.

Stocks are extremely risky, especially if you don't know the ins and outs. I'm still getting educated on the market myself.

 

[nosqadupper]

401k up to the match, then Ira up to the max, then something like betterment.com for no hassle allocation

 

[currensy]

p4l

 

[ddh1122]

Is this a good option? Or are there better, free ones out there

https://www.suncoastcreditunion.com/personal/bank/savings-drop#tabs

Share Certificate	$500.00	$500.00	Fixed	0.35 %	0.35 %	6
Higher dividend rates, higher earnings, easy automatic savings. Terms to fit your financial needs. Types of Share Certificates available: Traditional, Retirement: IRA/Roth/SEP/DCP, Coverdell Education Savings Account, Health Savings Account, and Business Certificate Account. Initial deposit and minimum balance of $500 is required. Suncoast members may open a new Certificate Account by phone with the Members Contact Center, in any branch or by sending secure email through SunNet Online Banking. If emailing, include the account from which the funds are to come, the desired term in months, and whether you wish to have the dividends added to the certificate or transferred to another deposit account.

 

[sreal]

are there any risks with opening an online bank account? I like that they higher interest rates but I like being able to walk into a bank and speak to someone more.

 

[tktran]

are there any risks with opening an online bank account? I like that they higher interest rates but I like being able to walk into a bank and speak to someone more.

I've had an online account with Ally for almost 5 years now with no issues. Their customer service is great. You get better rates because they don't have to pay for overhead normally associated with operating physical locations. That's the trade-off.

 

[champagne papi]

Anyone have mutual funds ...?