> Are all of these banks/CU’s safe? Does being FDIC-insured (as all of these are) imply that my money is safe no matter what, as long as its <= 250k?

Yes

> Are all of these banks/CU's safe? Does being FDIC-insured (as all of these are) imply that my money is safe no matter what, as long as its <= 250k?

Yes. That's the point. As long as you keep it in an FDIC insured account (for example, a money market account may not be FDIC insured)

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Just to be clear: Are all of these banks/CU's safe? Does being FDIC-insured (as all of these are) imply that my money is safe no matter what, as long as its <= 250k?

(Just want to make sure none of these are shady + worried after the recent bank failures.)

No reason not to switch. If you want to keep a brick and mortar bank then stick $1k in the pnc account and move the rest.

Yup, get your emergency fund in an HYSA asap

Looks like it's only available in certain states, and unfortunately that doesn't include my state of New York.

They do have money markets & CD's, but both are <= 2.00%.

PNC has a high yield savings account paying just under 4%. If you want to stay at that bank, might want to look at that as an option.

Banks and CUs: https://www.doctorofcredit.com/high-interest-savings-to-get/amp/ https://www.reddit.com/r/personalfinance/wiki/banks_and_credit_unions

Online banks and local credit unions offering that as well and up to 5% on CDs. I say switch!

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You want to switch to something. There are a lot of places with better rates

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Anything less than the standard of 20% will incur an extra PMI charge (on top of borrowing more money). The PMI is a percentage of the price, but the % value varies across lenders; so you’ll just have to ask and see what you’d get offered (note that you can request for this PMI to be removed once you hit a % equity ownership, usually 20%; but there may not be a legal obligation for them to drop it). The interest rate you get would also of course be a huge factor.

Really going to depend on the price you're willing to spend on the house. I like to target 20% down on a house. For savings, a HYSA would be the best option. If you can find a 1-2 year CD that's higher that would be fine but you're not talking about a lot of difference in increase of principal.

I put 0 down and I used that money to invest and keep as a safety net. I've made more back than if I shelled it out up front.

yes but i’m asking if it’s worth breaking the first 100k that is deemed so important. also, my brokerage account is 15% so not sure if it’s good financial decision to take the loss or not to take advantage of the program

i’ve been maxing out my retirement accounts, currently on the second year of maxing out my 401k. My brokerage accounts were created to store money for a down payment of a house in the future. But because of the new program, im in a tough spot where i want to try to break even before buying a house or take them out (about 60k) for closing costs since i don’t need a down payment anymore.

I mean if you are truly down and you are not exagerating (ie you have contributed more than you actually have left) then withdrawing won't be a taxable event and you can in fact claim any loss as a deduction on your taxes (up to $3k per year and it rolls over) then you could use that cash to put a payment on a house sure. But you would also be locking in your losses.

Depends how much you want to rush home ownership.

If your brokerage accounts are home to your long-term savings, no.

If you have ample retirement savings in separate tax-advantaged accounts and your brokerage isn't factored into your retirement planning, then go for it.

The first $100k is just a benchmark. There's nothing inherently important about saving six figures. This is just when your ROI starts to actually feel substantial.

Im confused. You saved money to buy a house and now you want us to tell you if it's okay to withdraw the saved money on a house?

Not to be rude... but wasnt that the entire point of the account in the first place? Savings have no value other than to buy things. If your goal with this money was to buy a house, then sure go try and buy a house.

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well yeah - but it is worth seeing the cost for employer insurance v. marketplace plan for family, along with the networks