Hello all,
My wife and I have been saving up for the past several years for a down-payment on our first home. We've gotten to the point that we have enough to put ~20-25% down, depending on how much house we eventually decide to buy.
Lo-and-behold, right as we were getting ready to enter the housing market, my job moved an hour away. Long story short, I need to find a new job. This means I won't be in the housing market for at least 6 months, if not 1-2 years.
My current challenge is figuring out what to do with our down-payment money. It's a lot of cash to be sitting in CD's and savings accounts. Yet we still plan to buy the house in a few years, so I'm not about to put it in the stock market.
I've been considering putting some of it towards our student loans. Yet our student loans at 2.1% are cheaper than I expect to get on a mortgage, so I don't really see the benefit of this over a bigger down payment.
Any thoughts?