# New Homeowner Krew, what are you doing with your interest free loan? **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [August 21, 2008, 8:47am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617 "2008-08-21T08:47:27Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![Viper966](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/viper966/32/7268_2.png) [@Viper966](https://forums.speedlife.net/u/Viper966)\ **Post date:** [August 21, 2008, 8:47am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/1 "2008-08-21T08:47:27Z")
Me, i am hanging onto it as an emergency fund, putting it in a HSBC savings account at the current 3.5% would net me ~5k over the 15 year payback period. [http://www.federalhousingtaxcredit.com](http://www.federalhousingtaxcredit.com/faq.php) ---
**Author:** ![justa4door](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/justa4door/32/7259_2.png) [@justa4door](https://forums.speedlife.net/u/justa4door)\ **Post date:** [August 21, 2008, 8:53am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/2 "2008-08-21T08:53:24Z")
:tup: thanks for the link piss i bought my house in 07 ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [August 21, 2008, 9:14am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/3 "2008-08-21T09:14:08Z")
getting rid of other loans since 3.5 is not worth a savings account (all except student loans are over 3.5)… I’ll bank more this way,. ---
**Author:** ![Viper966](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/viper966/32/7268_2.png) [@Viper966](https://forums.speedlife.net/u/Viper966)\ **Post date:** [August 21, 2008, 9:30am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/4 "2008-08-21T09:30:29Z")
> [@theblue](#): > > getting rid of other loans since 3.5 is not worth a savings account (all except student loans are over 3.5)… I’ll bank more this way,. i thought about that 2, but i have almost nothing in savings right now, and having a cushion would be nice ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [August 21, 2008, 9:31am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/5 "2008-08-21T09:31:44Z")
smart move… ---
**Author:** ![Eazy716](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/eazy716/32/7443_2.png) [@Eazy716](https://forums.speedlife.net/u/Eazy716)\ **Post date:** [August 21, 2008, 9:51am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/6 "2008-08-21T09:51:41Z")
weak ---
**Author:** ![RobtC](https://avatars.discourse-cdn.com/v4/letter/r/51bf81/32.png) [@RobtC](https://forums.speedlife.net/u/RobtC)\ **Post date:** [August 21, 2008, 11:18am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/7 "2008-08-21T11:18:14Z")
i wish i didn’t buy my house last year. edit: this sucks a lot. ---
**Author:** ![Geoff](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/geoff/32/6104_2.png) [@Geoff](https://forums.speedlife.net/u/Geoff)\ **Post date:** [August 21, 2008, 11:19am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/8 "2008-08-21T11:19:44Z")
Either stuffing it into a savings where it’ll earn 3.25% or putting it on top of the mortgage. ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [August 21, 2008, 11:22am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/9 "2008-08-21T11:22:44Z")
there’s another $750 in free cash also if I remember correctly ---
**Author:** ![Joehip](https://avatars.discourse-cdn.com/v4/letter/j/e480ec/32.png) [@Joehip](https://forums.speedlife.net/u/Joehip)\ **Post date:** [August 21, 2008, 11:51am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/10 "2008-08-21T11:51:10Z")
Awww BS… I closed in Jan. WTF ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [August 21, 2008, 11:54am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/11 "2008-08-21T11:54:32Z")
They are rewarding people that are actually stimulating the economy? Bullocks! They should have given it to the poor. ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [August 21, 2008, 11:57am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/12 "2008-08-21T11:57:02Z")
the real intent is to talk people who don’t want to buy a house into doing so… so depending on how you look it you could say it’s a problem… but the other side of the coin says they’re doing it to make people less likely to default by giving them a loan to use on a rainy day assuming they don’t just blow the money and end up in more debt. ---
**Author:** ![Nikuk](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/nikuk/32/7254_2.png) [@Nikuk](https://forums.speedlife.net/u/Nikuk)\ **Post date:** [August 21, 2008, 12:24pm UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/13 "2008-08-21T12:24:13Z")
this combined with the foreclosure rates… :tif:, possibly :tup: ---
**Author:** ![jimmyfloyd](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jimmyfloyd/32/3077_2.png) [@jimmyfloyd](https://forums.speedlife.net/u/jimmyfloyd)\ **Post date:** [August 21, 2008, 12:28pm UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/14 "2008-08-21T12:28:21Z")
Probably going to bank mine, or get new windows. Haven’t decided yet. ---
**Author:** ![JustinH](https://avatars.discourse-cdn.com/v4/letter/j/9fc29f/32.png) [@JustinH](https://forums.speedlife.net/u/JustinH)\ **Post date:** [August 21, 2008, 12:56pm UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/15 "2008-08-21T12:56:13Z")
The house I bought was under 75k, so I get 10 percent of the purchase price. I’ll take the cash, and put new windows and a roof on my place. ---
**Author:** ![oldford](https://avatars.discourse-cdn.com/v4/letter/o/f17d59/32.png) [@oldford](https://forums.speedlife.net/u/oldford)\ **Post date:** [August 24, 2008, 5:07pm UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/16 "2008-08-24T17:07:49Z")
When do you see the money from this. I am looking for a home right now. Can I use this $7500 towards the down payment or will I not see this until I already have bought the home? ---
**Author:** ![evane](https://avatars.discourse-cdn.com/v4/letter/e/6bbea6/32.png) [@evane](https://forums.speedlife.net/u/evane)\ **Post date:** [August 24, 2008, 8:01pm UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/17 "2008-08-24T20:01:42Z")
son of a bitch… bought my house May of 07… God damn 7500 would have been nice, pay off 2 installment loans and some change to spare to go ontop of mortgage. ---
**Author:** ![ryanmcell](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ryanmcell/32/7510_2.png) [@ryanmcell](https://forums.speedlife.net/u/ryanmcell)\ **Post date:** [August 24, 2008, 9:18pm UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/18 "2008-08-24T21:18:50Z")
Wait, this says it has to be repaid if I read that right? ---
**Author:** ![Terry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/terry/32/7207_2.png) [@Terry](https://forums.speedlife.net/u/Terry)\ **Post date:** [August 25, 2008, 5:46am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/19 "2008-08-25T05:46:27Z")
I closed March 28th…how much does that blow? ---
**Author:** ![skatanic28](https://avatars.discourse-cdn.com/v4/letter/s/8e7dd6/32.png) [@skatanic28](https://forums.speedlife.net/u/skatanic28)\ **Post date:** [August 25, 2008, 6:42am UTC](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617/20 "2008-08-25T06:42:56Z")
should be in for this 🙂 appliances/furniture/student loans [Next page](https://forums.speedlife.net/t/new-homeowner-krew-what-are-you-doing-with-your-interest-free-loan/53617.md?page=2)