Show HN: M1 Borrow – free investing and 3.75% APR portfolio line of credit • Hacker News Board

Show HN: M1 Borrow – free investing and 3.75% APR portfolio line of credit

#1

Post by rryyan » Mon, Jun 18, 2018, 5:04 PM UTC

Show HN: M1 Borrow – free investing and 3.75% APR portfolio line of credit
m1finance.com

Re: Show HN: M1 Borrow – free investing and 3.75% APR portfolio line of credit

#2

Post by rryyan » Mon, Jun 18, 2018, 5:04 PM UTC

Hello HN, M1 Finance is introducing our newest feature today: M1 Borrow. M1 already lets you invest in the stocks you want for free, and now we also offer a simple, low-cost way to borrow against your portfolio.

Borrow up to 35% of your account value instantly at 3.75% APR and pay back anytime. Use the funds for any purpose: make a large upfront purchase (car/wedding/remodel/etc.) without selling positions, refinance other debt, or just leverage your portfolio.

I lead the product team at M1, and would love your feedback!

Re: Show HN: M1 Borrow – free investing and 3.75% APR portfolio line of credit

#3

Post by Veraticus » Mon, Jun 18, 2018, 5:15 PM UTC

rryyan wrote: post #2

Hello HN, M1 Finance is introducing our newest feature today: M1 Borrow. M1 already lets you invest in the stocks you want for free, and now we also offer a simple, low-cost way to borrow against your portfolio. Borrow up to 35% of your account value instantly at 3.75% APR and pay back anytime. Use the funds for any purpose: make a large upfront purchase (car/wedding/remodel/etc.) without selling positions, refinance…

This is pretty exciting; having margin available for the less-than-ultra-wealthy is neat. What's the minimum amount necessary to invest that gives access to borrowing?

Re: Show HN: M1 Borrow – free investing and 3.75% APR portfolio line of credit

#4

Post by rryyan » Mon, Jun 18, 2018, 5:32 PM UTC

Veraticus wrote: post #3

rryyan wrote: post #2

Hello HN, M1 Finance is introducing our newest feature today: M1 Borrow. M1 already lets you invest in the stocks you want for free, and now we also offer a simple, low-cost way to borrow against your portfolio. Borrow up to 35% of your account value instantly at 3.75% APR and pay back anytime. Use the funds for any purpose: make a large upfront purchase (car/wedding/remodel/etc.) without selling positions, refinance…

This is pretty exciting; having margin available for the less-than-ultra-wealthy is neat. What's the minimum amount necessary to invest that gives access to borrowing?

Taxable (non-IRA) accounts with at least $25k are eligible to borrow against.