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Updated over 3 years ago, 09/02/2021
Good place to put down payment money while searching.
My wife and I just got the money from our refi and now have a big chunk of change in our checking account. While we are excited to get our first property, we are still searching for the right one. My question is: Does anybody have a good recommendation about where to place this money while we are in search mode?
We can leave it in the checking account but there is very little yield on it and makes it hard to know how much other money is in there from our incomes and expenses. We don't really want to draw down any of the investment money to pay bills by accident. A money market account seems like a good possibility but we are unsure about the accessibility for when we need to pull it out.
Any advice would be appreciated.
Thanks