Money you'll need in the next few years should be somewhere safe, not where it can drop in value right before you buy.
Options
- A high-yield savings account at an FDIC-insured bank or NCUA-insured credit union
- Certificates of deposit (CDs) timed to when you'll buy
- Treasury bills
- Avoid putting short-term house money in stocks
Keep records
Lenders ask about large deposits. Keep records of where money came from, including gifts.
General educational information, not mortgage advice. Programs and rules change. Save More Haven isn't paid by any lender, broker or real estate agent.