Vacant Land Loan
Sold home & have cash in a money market. Bought land prior to home sale which has a 5.375% rate. Should I take some of the cash and payoff the land loan ? We won’t be building any time soon with the market the way it is. Balance is $42,000.00. Thanks!
Terry Says
Well, you’re close to a wash on interest rates. 6-month Treasury bills are currently yielding about 4.7%. And it might be better to have the liquidity of cash than have all your money tied up in vacant land.
Read this on how to buy Treasury Bills.
