House Money
Park it safely until buying or closing
Drag the closing day and watch the plan rebuild: every safe place for the money, ranked by what it earns by that date.
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Your
Every safe place for it, ranked by what it earns
CDs: none of the terms we track would pay out before Feb 28, a week ahead of closing.
Your plan with Pibank Savings
- Now
Move it to Pibank Savings (4.40%, can change any time). Above $250,000, use more than one bank to stay FDIC-insured.
- Mar 4
Transfers take 1–2 business days, so move it out a few days before you need it.
How we compare
What each option keeps after 22% federal and 5% state tax on $800,000 over 120 days. Locked options (Treasury bills, CDs) must pay out at least a week before closing; $40,000 stays in ready cash with them, and anything waiting between dates earns the Treasury money fund rate. Treasury interest is free of state income tax; CD and savings interest isn’t. Rates are today’s: savings rates can change at any time, CD and bill rates are fixed once you buy. FDIC insurance covers $250,000 per depositor per bank. Treasury yields from the November 6, 2026 close. Not personal advice.
Questions
Where should I keep money from a house sale until I buy the next one?
Somewhere it can’t lose value and will be there on closing day. Treasury bills fit: they’re backed by the U.S. government, pay a fixed rate (about 4.19% for 3 months today), mature on a known date, and their interest skips state income tax. Time the last one to mature at least a week before closing and keep a same-day reserve for earnest money and fees.
Is a high-yield savings account safe for a down payment?
Yes, up to $250,000 per depositor, per bank, per ownership category. Above that, split it across banks or use Treasury bills. Savings interest is taxed by your state; Treasury interest isn’t.
Should I put house money in the stock market?
Money needed for a closing within a year or two is usually kept out of stocks and bond funds, because they can be down on the day you need them. Treasury bills held to maturity pay back their full face value.
How long does it take to get money out of a Treasury bill?
At maturity the cash lands in your brokerage account that day. You can also sell a bill any business day before it matures, at the market price, and the cash usually settles the next business day.