Saving for Down Payment

What is the best type of account to save money for a down payment on a home? I am looking to purchase a home in the next 5-7 years and I’m currently contributing these savings into a HYSA in an account separate from my emergency savings.

I currently max out my Roth IRA each year. I know first time home buyers are able to take a portion of money out of a Roth for this purpose but I don’t necessarily want to sell those investments for this goal.

Since the timeframe to use the funds is only 5-7 years does it make sense to leave it in the HYSA?


Welcome! It seems like what you’re doing makes the most sense. Here is a post answering the same question How to save for a Down Payment

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