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Why I won't sell investments I bought for my home's down payment - Business Insider

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The possibility of having to pay an extra $50 to $100 on my mortgage each month is annoying. But in 10 or 15 years, missing out on the possible growth of those investments will irk me more

. While it can be cancelled once your home's equity reaches 20%, it can add to your monthly costs in the meantime.

I'm so close but so far away from avoiding it. Racking my brain for how I could scrape together an amount that's so small yet so hard to come by, I remembered that I have an investment account worth about that much from my first foray into investing. I no longer use the brokerage account that I opened through a buzzy app a few years ago, but the value has grown. It's an account where investments can be bought or sold at any time, so I could sell these investments and take the cash.

For a few minutes, it seemed a tempting thought — it would save me five months worth of PMI, or $500 if my PMI is on the high end of the estimate. But I won't do it for several reasons. The best place to keep cash that you want to use in the next few years is a savings account, period. I should have simply saved the money instead of investing it.

 

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I'd cash it in, and each month buy $100 worth of the investments back with the savings from not paying the PMI

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