Pittsburgh holds a distinct place in the heart of America. Once the backbone of the nation’s steel industry, today it’s a center for technology, education, and healthcare. The city’s resilience and ability to reinvent itself are evident in Pittsburgh’s many thriving neighborhoods, cutting-edge universities, and well-supported arts scene.
Pittsburgh’s footprint, defined by the confluence of the Allegheny, Monongahela, and Ohio rivers, provides a scenic backdrop to a city that’s as friendly as it is hardworking.
Whether you’re a diehard sports fan, a classically trained artist, or simply someone looking for the perfect place in Pittsburgh, there’s no doubt that Steel City has something for everyone.
1. The Incline
The Duquesne and Monongahela Inclines offer a unique way to view Pittsburgh’s picturesque skyline and its river confluences. These historic funicular railways provide not just a practical mode of transportation but also a step back in time. Riding the incline is a beloved tradition for many, especially during sunset. The top stations serve as gateways to the stunning houses in the Mount Washington neighborhood, where fine dining and quaint shops await.
2. The Pittsburgh Steelers
The Pittsburgh Steelers, an NFL team with a nearly psychotically passionate fan base, are integral to the city’s identity. Known for their impressive six Super Bowl championships, the Steelers have a legacy of success and resilience. Game days transform the city into a sea of black and gold, as fans from all over the state gather to support their team. The camaraderie and spirit felt in the stadium or local bars during games underscore Pittsburgh’s community-oriented nature, making Steelers games an unforgettable experience for everyone lucky enough to be there.
3. The Andy Warhol Museum
The Andy Warhol Museum, dedicated to the Pittsburgh-born pop art icon, is a must-visit. As one of the most comprehensive single-artist museums in the world, it houses an extensive collection of Warhol’s artworks, including paintings, drawings, prints, and sculptures. The museum also offers a glimpse into Warhol’s life, showcasing his personal belongings and a vast archive of documents related to his career.
4. Pittsburgh’s Tech Scene
Pittsburgh has emerged as a nucleus for technology and innovation, drawing talent and investment from around the globe. The city’s transformation from steel to silicon is propelled by world-renowned institutions like Carnegie Mellon University and the University of Pittsburgh, which collaborate with tech giants and startups alike. This surprising tech scene has fostered developments in robotics, artificial intelligence, and health tech, contributing to Pittsburgh’s reputation as a city that looks to the future while still honoring its industrial roots.
5. Carnegie Museums
The Carnegie Museums of Pittsburgh encompass a collection of four museums. Each offers a world-class experience in its field, from the extensive dinosaur exhibits at the Natural History Museum to the vast art collections at the Carnegie Museum of Art. These institutions reflect the city’s commitment to education and accessibility in the arts and sciences, providing enriching experiences for visitors of all ages.
6. Primanti Bros.
A culinary icon of Pittsburgh, Primanti Bros. is a hearty creation that embodies the city’s no-nonsense attitude toward food. Originally designed to be a complete meal for truckers on the go, this sandwich stacks grilled meat, coleslaw, tomatoes, and French fries between two slices of Italian bread. Eating a Primanti Bros. sandwich is a rite of passage for visitors, offering a taste of Pittsburgh’s creativity and its history as a blue-collar town.
7. Three Rivers
The confluence of the Allegheny, Monongahela, and Ohio Rivers is central to Pittsburgh’s identity and development. This strategic geographical feature has shaped the city’s history, from its early days as a frontier fort to its rise as an industrial powerhouse. Today, the rivers are a focal point for recreation, hosting activities like kayaking, fishing, and scenic riverboat tours. The Three Rivers also set the stage for the city’s many bridges, adding to Pittsburgh’s unique skyline and architectural beauty.
8. PNC Park
PNC Park is celebrated as one of the most beautiful baseball stadiums in the United States, offering stunning views of the Pittsburgh skyline. Home to the Pittsburgh Pirates, the park is known for its intimate setting, with the game’s action feeling closer than ever. The park’s design cleverly incorporates Pittsburgh’s history and architectural heritage. Visiting here is a home run for baseball fans and architecture aficionados alike.
9. The Cultural District
Pittsburgh’s Cultural District is a testament to the city’s thriving arts scene, with an impressive amount of theaters, galleries, and performance spaces. This area buzzes with activity, hosting Broadway shows, ballet performances, jazz concerts, and much more.
10. Pittsburgh Zoo & PPG Aquarium
The Pittsburgh Zoo & PPG Aquarium is home to over 4,000 animals representing 475 species, including many endangered, the zoo is committed to conservation and animal welfare. The unique combination of a zoo and aquarium in one location allows guests to explore the wonders of both land and sea with ease in a family-friendly setting.
Have you ever wondered, “Should I move to Charlotte, NC?” Located in the heart of the Carolinas, Charlotte offers a blend of urban sophistication and Southern charm. As the largest city in North Carolina, Charlotte boasts a dynamic economy, thriving cultural scene, and diverse neighborhoods that cater to a variety of lifestyles. From its bustling Uptown district to its picturesque suburbs, Charlotte’s holds a unique combination of cosmopolitan amenities and natural beauty. However, like any city, Charlotte has its share of drawbacks that prospective residents should consider. In this article, we’ll explore the pros and cons of living in Charlotte, helping you determine whether a move to this spirited Southern city is right for you.
Charlotte at a Glance
Walk Score: 26 | Bike Score: 31 | Transit Score: 27
Median Sale Price: $400,000 | Average Rent for 1-Bedroom Apartment: $1,500
Charlotte neighborhoods | houses for rent in Charlotte | apartments for rent in Charlotte | homes for sale in Charlotte
Pro: Thriving job market
Charlotte stands out with its booming job market, especially in the banking and finance sector. Home to Bank of America and Wells Fargo’s East Coast operations, the city offers abundant opportunities for those living there. This economic growth attracts talent from various fields, contributing to a vibrant, diverse community. The presence of several Fortune 500 companies further solidifies Charlotte’s status as a career hotspot.
Con: Minimal biking infrastructure
One con of Charlotte is its low Bike Score of 31. Many parts of the city lack dedicated bike lanes and cyclist-friendly amenities. For instance, certain neighborhoods, such as Uptown and South End, may offer more bike-friendly features, including bike lanes and trails, but these amenities are often limited in scope and connectivity. Despite efforts to promote cycling through initiatives like the Charlotte B-cycle bike-sharing program, the city’s low bike score underscores the need for further investment in bike-friendly infrastructure.
Pro: Lush green spaces
Charlotte is known for its beautiful green spaces, offering residents a breath of fresh air amidst urban life. Freedom Park and the UNC Charlotte Botanical Gardens are just two examples where locals can enjoy nature, outdoor activities, and community events. These spaces not only enhance the city’s beauty but also promote a healthy lifestyle and public engagement.
Con: Sprawling development
The city’s sprawling development pattern has led to challenges in maintaining a cohesive community feel in some areas. This sprawl can make it difficult for residents to access services and amenities without significant travel, impacting the overall quality of life. Efforts to create more walkable, interconnected neighborhoods are underway, but the current layout presents obstacles to sustainable urban living.
Pro: Vibrant culinary scene
Charlotte’s culinary scene is a delight for food enthusiasts, showcasing a diverse range of dining options. From Southern barbecue at Midwood Smokehouse to innovative dishes at Kindred, the city caters to all tastes. The growth of local breweries and food festivals further enriches Charlotte’s food culture, making it a destination for culinary exploration.
Con: Hot and humid summers
Charlotte’s climate features hot and humid summers, which can be challenging for those unaccustomed to Southern weather. Temperatures often soar into the 90s, accompanied by high humidity levels, making outdoor activities and daily life uncomfortable during these months. This weather can also lead to increased energy bills as residents rely on air conditioning to stay cool.
Pro: Diverse neighborhoods
The city boasts a variety of neighborhoods, each with its own unique charm and character. From the historic streets of Myers Park to the artsy vibe of NoDa, Charlotte offers a range of living experiences. This diversity allows residents to find communities that best suit their lifestyle and preferences, contributing to the city’s lively atmosphere.
Con: Limited public transportation options
Charlotte has made strides in public transportation with the Lynx Blue Line light rail. However, with a Transit Score of 27, options remain limited compared to other major cities. The reliance on cars is high, and those without vehicles may find it challenging to navigate the city efficiently. This limitation affects accessibility and convenience for residents and visitors alike.
Pro: Local sports and recreation
Charlotte is a haven for sports enthusiasts, home to the NFL’s Panthers and the NBA’s Hornets, along with a vibrant NASCAR culture. The city also offers numerous recreational activities, from kayaking on the Catawba River to hiking in nearby Crowders Mountain State Park. These opportunities foster a strong sense of community and provide locals with various ways to stay active and engaged.
Con: Seasonal weather extremes
In addition to hot summers, Charlotte experiences seasonal weather extremes that can include icy winters and the occasional hurricane threat. These conditions can disrupt daily life and require residents to be prepared for a range of weather scenarios. The variability underscores the importance of resilience and adaptability for those living in or moving to the city.
Pro: Fantastic educational opportunities
Charlotte is home to several higher education institutions, including the University of North Carolina at Charlotte, providing locals with excellent educational opportunities. The presence of these institutions not only enriches the city, but also drives innovation and economic development. For people seeking educational advancement, Charlotte may offer the perfect supportive and dynamic setting.
Jenna is a Midwest native who enjoys writing about home improvement projects and local insights. When she’s not working, you can find her cooking, crocheting, or backpacking with her fiancé.
Columbus is a city that effortlessly marries the historical with the contemporary, creating an engaging environment for residents and visitors alike. It stands out for its Midwestern charm and innovative spirit, making it a place of interest for folks from all walks of life.
From the roar of college football games to the quiet corners of its distinctive districts, it’s easy to see why people are clamoring to find a house in Columbus. It’s a city where every street, building, and green space tells a story, inviting you to be a part of its ongoing narrative.
As we explore ten of the top things Columbus is known for, you’ll discover that it’s not just the capital of Ohio but also a capital of culture, innovation, and community spirit for many in the Midwest.
1. The Ohio State University
The Ohio State University (OSU) is more than just an educational institution in Columbus; it’s a cornerstone of the community. The campus is a bustling hub of activity, from groundbreaking research projects to thrilling college sports, most notably its football team, which garners nationwide attention. OSU’s impact on Columbus extends beyond academia, influencing the local economy and culture, making it a key part of the city’s identity.
2. Columbus Zoo and Aquarium
The Columbus Zoo and Aquarium is renowned for its extensive species collection and commitment to conservation. It offers visitors an immersive experience, from the heart of Africa to the shores of the Arctic, making it a fantastic destination for families. This institution not only entertains but also educates, playing a pivotal role in wildlife preservation efforts.
3. Short North Arts District
The Short North Arts District stands as Columbus’s cultural epicenter, boasting an eclectic mix of galleries, boutiques, and restaurants. This cool area is famous for its monthly Gallery Hop, where art enthusiasts and casual visitors alike explore the vibrant local art scene. The district’s dynamic atmosphere and its dedication to supporting local artists and businesses make it a must-visit destination in the city.
4. COSI (Center of Science and Industry)
COSI brings science to life through its interactive exhibits and live demonstrations, making it an educational cornerstone for visitors of all ages. Its mixture of entertainment and learning, including a planetarium and various themed exhibitions, fosters a curiosity about the world. COSI’s innovative approach to science education has made it a nationally recognized leader in the field.
5. The Scioto Mile
The Scioto Mile is Columbus’s premier urban greenspace, with breathtaking views and a ton of outdoor activities along the Scioto River. This area is perfect for walking, biking, and enjoying nature in the heart of the city. Its fountains, parks, and pathways connect the community, creating a serene escape from the hustle and bustle of city life.
6. North Market
North Market is a food lover’s paradise, showcasing tons of local vendors offering everything from artisanal cheeses to international cuisines. This historic public market has served Columbus for over a century, making it a focal point for the city’s food scene.
7. Columbus Museum of Art
The Columbus Museum of Art is a happy place for artsy types, featuring an impressive collection of American and European paintings, sculptures, and photographs. It’s particularly celebrated for its innovative programs that encourage visitor interaction with art. The museum’s commitment to accessibility and education makes it a valuable cultural resource for the city.
8. German Village
German Village is a historic neighborhood in Columbus known for its well-preserved 19th-century brick houses and charming cobblestone streets. Visitors can enjoy the local shops, restaurants, and bakeries that reflect the area’s rich German heritage. This neighborhood offers a unique glimpse into Columbus’s past, making it a delightful place for a stroll with friends on a sunny Ohio afternoon.
9. Franklin Park Conservatory and Botanical Gardens
The Franklin Park Conservatory and Botanical Gardens is a natural oasis in Columbus, offering a year-round exploration of flora from around the world. Its stunning glasshouses, butterfly garden, and seasonal displays provide a peaceful retreat. This institution not only showcases the beauty of nature but also educates visitors on the importance of environmental conservation.
10. Nationwide Arena
Nationwide Arena is the heart of Columbus’s sports and entertainment scene, home to the NHL’s Columbus Blue Jackets. Besides thrilling hockey games, it hosts a wide range of events, from concerts to family shows, making it a central spot for entertainment in the city.
Located in the heart of the Sonoran Desert, Phoenix offers a unique living experience characterized by its dynamic culture, diverse population, and striking natural landscapes. Known as the Valley of the Sun, Phoenix boasts over 300 days of sunshine annually, inviting residents to explore its vast outdoor recreational opportunities. From hiking picturesque desert trails to teeing off at world-class golf courses, there’s always something new to try. If you’ve been asking yourself, “Should I move to Phoenix, AZ?” you’re in the right place. In this article, we’ll discuss the pros and cons of living in Phoenix to help you decide if it’s the right place for you. Let’s dive in.
Phoenix at a Glance
Walk Score: 41 | Bike Score: 56 | Transit Score: 36
Median Sale Price: $455,000 | Average Rent for 1-Bedroom Apartment: $1,237
Phoenix neighborhoods | houses for rent in Phoenix | apartments for rent in Phoenix | homes for sale in Phoenix
Pro: Sunny weather
Phoenix basks in its reputation as one of the sunniest cities in the United States. This abundant sunlight is a major draw for residents seeking a warm and inviting climate year-round. The city’s sunny weather creates an ideal environment for outdoor activities such as hiking, biking, and picnicking. Moreover, the sunny days contribute to a generally cheerful and positive atmosphere, fostering a sense of well-being among residents. Additionally, the weather allows residents to have outdoor gatherings, festivals, and community events throughout the year. Overall, the sunny weather in Phoenix is not just a climatic feature but a defining aspect of the city’s lifestyle.
Con: Water scarcity
Phoenix’s location in the Sonoran Desert brings with it the challenge of water scarcity. The city relies heavily on a finite water supply from the Colorado River, which is under increasing stress due to prolonged droughts and overuse. This situation has led to heightened awareness and restrictions on water use, impacting everything from residential landscaping to public swimming pools. This issue continues to be a growing concern for the city’s sustainability efforts.
Pro: Proximity to natural attractions
Phoenix’s location offers unparalleled access to natural attractions and outdoor adventures. Just a short drive from the city, residents can explore the Grand Canyon, hike in the Superstition Mountains, or visit the red rocks of Sedona. This proximity to nature allows for spontaneous day trips or weekend getaways, making it an ideal home base for those who love to explore the great outdoors.
Con: Extreme summer heat
While the sunny weather is a significant draw, the flip side is the extreme heat Phoenix experiences. In fact, Phoenix currently ranks 5th for U.S. cities most at risk of extreme heat. Temperatures regularly soar above 100 degrees Fahrenheit, which can be uncomfortable and even dangerous. This intense heat limits outdoor activities to early mornings or late evenings for much of the summer, and significantly increases the cost of air conditioning and energy bills.
Pro: Lively cultural scene
The cultural scene in Phoenix is vibrant and diverse, offering a wide range of activities and events that cater to various interests. The city is home to numerous museums, such as the Phoenix Art Museum and the Heard Museum, which showcase both contemporary art and Native American cultures. Additionally, the downtown area hosts a variety of festivals, live music, and culinary events throughout the year, reflecting the city’s rich cultural diversity.
Con: Limited public transportation
With a Transit Score of 36, one of the challenges of living in Phoenix is the limited public transportation options. While the city has made efforts to expand its light rail system, the coverage is still not comprehensive. This makes it difficult for those without a car to navigate the city efficiently. This reliance on personal vehicles contributes to traffic congestion and can be a barrier for residents seeking accessible and affordable transportation alternatives.
Phoenix is known for its welcoming and inclusive community, with a diverse population that embraces newcomers. The city’s warm and friendly atmosphere makes it easy for a lot of residents to connect and engage with their neighbors, fostering a sense of belonging. Community events, local farmers’ markets, and neighborhood associations contribute to the vibrant social fabric of Phoenix, making it a great place to call home.
Con: Poor air quality
Due to its location in a valley and the high number of vehicles on the road, Phoenix often struggles with air quality issues. Dust storms, known locally as “haboobs,” along with ozone pollution, can lead to poor air quality days, particularly in the summer. This can be a concern for individuals with respiratory issues and contributes to environmental health challenges in the city.
Pro: Growing job market
Phoenix has experienced significant economic growth in recent years. The area’s job market continues to expand in sectors such as technology, healthcare, and finance. This growth has attracted professionals from across the country, contributing to the city’s diverse workforce. With an emerging startup scene and several Fortune 500 companies like Avnet, the city provides ample employment opportunities.
Con: Summer monsoons
While the monsoon season can bring much-needed relief from the summer heat, it also comes with its own set of challenges. The monsoons can produce sudden, intense storms that lead to flooding, power outages, and property damage. These storms, occurring from June through September, require residents to be prepared for rapid weather changes and their potential impacts.
Pro: Sports fan’s paradise
Phoenix is a haven for sports enthusiasts. The city hosts professional teams in all major sports, including the NFL’s Arizona Cardinals and the NBA’s Phoenix Suns. The city also offers a plethora of recreational activities, from golf courses and public parks to hiking trails in the surrounding desert landscapes. This blend of professional sports and outdoor recreation provides residents with endless options for entertainment and physical activity.
Con: Sprawling urban layout
The sprawling urban layout of Phoenix can be a drawback for those who prefer a more walkable city environment. The city’s extensive urban sprawl requires residents to rely heavily on cars for transportation, contributing to traffic congestion and making it challenging to foster a sense of community in some neighborhoods. This layout also impacts the accessibility of amenities and services for those living in the outer suburbs.
Jenna is a Midwest native who enjoys writing about home improvement projects and local insights. When she’s not working, you can find her cooking, crocheting, or backpacking with her fiancé.
Are you eligible for the zero-down USDA home loan?
What if you could secure a USDA home loan that allows you to buy a house with no down payment, competitive mortgage rates, and reduced mortgage insurance costs?
It might sound like a dream, but it’s entirely possible with the USDA mortgage program. Designed to assist low- and moderate-income Americans in becoming homeowners, USDA loans provide incredibly affordable financing options for eligible buyers.
Essentially, USDA mortgages empower individuals to transition from renting to owning, even when they thought homeownership was out of reach.
Verify your USDA loan eligibility. Start here
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>Related: How to buy a house with $0 down: First-time home buyer
What is a USDA loan?
USDA loans are mortgages backed by the U.S. Department of Agriculture as part of its Rural Development Guaranteed Housing Loan program. The USDA offers financing with no down payment, reduced mortgage insurance, and below-market mortgage rates.
Verify your USDA loan eligibility. Start here
The USDA mortgage program is intended for home buyers with low-to-average household incomes. In order to qualify, you must also purchase a home in a “rural area” as the USDA defines it. Those who are eligible can use a USDA mortgage to buy a home or refinance one they already own.
USDA loans offer nearly unbeatable benefits for qualified borrowers. So if this program sounds like a good fit for you, it’s worth getting in touch with a participating lender to find out if you’re eligible.
How do USDA loans work?
The U.S. Department of Agriculture insures USDA loans. Thanks to government guarantees and subsidies, lenders can offer 100% financing and below-market interest rates without taking on too much risk.
Verify your USDA loan eligibility. Start here
Although the USDA backs this program, it typically isn’t the one lending money. Instead, private lenders are authorized to offer USDA loans. That means you can get a USDA mortgage from many mainstream banks, mortgage lenders, and credit unions.
The application process for a USDA mortgage works just like any other home loan. You’ll compare rates and choose a lender, complete an application (often online), provide financial documents, wait for the lender’s approval, and then set a closing day.
The only exception is for very low-income borrowers, who may qualify for a USDA Direct home loan. In this case, you’d go straight to the Department of Agriculture to apply rather than to a private lender.
Types of USDA loans
For eligible individuals and families looking to buy, build, or renovate a home in a rural area, the USDA offers three main mortgage loan types. The loan programs are as follows:.
Verify your USDA loan eligibility. Start here
USDA Guaranteed Loans
Approved private lenders, such as banks and mortgage companies, provide USDA loan guarantees to qualified borrowers. A USDA guaranteed loan is one in which the government backs a portion of the loan, lowering the lender’s risk and allowing them to offer more favorable terms to the borrower. These loans frequently have low interest rates, no down payment, and more lenient credit requirements. The property must be in an eligible rural area as the USDA defines it, and borrowers must meet household income requirements that vary depending on location and household size.
USDA Direct Loans
The USDA also offers the Single Family Housing Direct loan through the Section 502 Direct Loan Program. These loans are meant to help low-income families buy, build, or fix up small homes in rural areas. The USDA, rather than private lenders, provides funding for direct loans as opposed to guaranteed loans. These loans have favorable terms, such as low interest rates (as low as 1% with payment assistance) and long repayment periods (up to 38 years for eligible applicants). Income, creditworthiness, and the property’s location in an eligible rural area determine eligibility for direct loans.
USDA Home Improvement Loan
The USDA’s Single Family Housing Repair Loans and Grants program, also known as the Section 504 program, provides financing for home improvements. This program provides low-interest, fixed-rate loans and grants to low-income rural homeowners for necessary home repairs, improvements, and modifications that make their homes safer, more energy-efficient, and more accessible. However, if you’re looking for one, you might have a difficult time finding this type of USDA home loan. They are not widely available from lenders.
USDA loan eligibility requirements
To be eligible for a USDA home loan, you’ll need to meet a number of requirements that vary depending on whether you are applying for a USDA loan guarantee or a USDA direct loan.
Verify your USDA loan eligibility. Start here
Some general requirements, however, apply to all USDA loans, specifically those based on both buyer and property eligibility.
USDA loan property requirements
Eligible rural area
The USDA defines an eligible area in rural America as having a population of 20,000 or fewer. To check if the property you’re considering falls within these designated areas, the USDA’s eligibility site provides all the necessary information. We also provide a USDA eligibility map below.
Single-family primary residence
USDA loans are exclusively available for primary residences. Neither investment properties nor second homes are eligible for this program.
Meet safety standards
The property must adhere to the USDA’s minimum property requirements, which focus on safety, structural integrity, and adequate access to utilities and services.
USDA loan borrower requirements
Income limits
You must meet USDA monthly income limits, meaning your household income can’t exceed 115% of the area median income. Conforming to USDA income eligibility requirements ensures the program is accessible to those it’s intended to serve.
Stable income
Applicants are required to demonstrate a stable and dependable income, typically for at least 24 months, before applying. This helps ensure borrowers can maintain their loan payments.
Creditworthiness
Although USDA loans are known for their flexible credit requirements, creditworthiness is still important. Lenders usually seek a minimum credit score of 640 for guaranteed loans, with USDA Direct Loans potentially having more lenient criteria.
Debt-to-income ratio
Your monthly debt, including future mortgage payments, generally should not exceed 41% of your gross monthly income. However, lenders may make exceptions based on credit score and available cash reserves.
Citizenship status
Applicants need to be U.S. citizens, U.S. non-citizen nationals, or qualified aliens with a valid Social Security number to qualify for a USDA loan.
USDA loan eligibility map
The USDA eligibility map is a valuable online resource for potential borrowers. It helps them identify if a property is situated in an area of rural America that qualifies for USDA home loans.
Verify your USDA loan eligibility. Start here
Users can enter a specific address or explore areas of the map to see if they qualify for USDA guaranteed loans or direct loans by using this interactive map.
1 Source: USDAloans.com, based on Housing Assistance Council data
USDA loan rates
Compared to other home loan programs, USDA mortgage interest rates are some of the lowest available.
Check your USDA loan rates. Start here
The VA loan, specifically tailored for veterans and service members, stands alongside the USDA loan as one of the few government-backed loan programs offering competitively low rates. Due in large part to the security that government subsidies and guarantees provide, both the USDA and VA programs are able to offer interest rates below the market average.
Other mortgage programs, like the FHA loan and conventional loan, can have rates around 0.5%–0.75% higher than USDA rates on average. That said, mortgage rates are personal. Getting a USDA loan doesn’t necessarily mean your rate will be “below-market” or match the USDA loan rates advertised.
How to get the best USDA mortgage rates
Strengthening your financial standing is essential for obtaining the best USDA loan rates. Here are some helpful techniques for improving your personal finances:
Boost your credit score.Improving your credit score is an important step toward getting the best USDA loan rates. Taking steps to improve your credit score before applying for a USDA loan often proves beneficial.
Consider a down payment. While a down payment is not required for USDA loans, it can demonstrate to the lender your commitment to repaying the loan. This could also help lenders find your application more appealing.
Minimize existing debt.Lowering your debt-to-income ratio (DTI) by paying off existing high-interest debts can make you more appealing to lenders. It demonstrates that you are capable of handling your loan and making payments on time.
Shop around for lenders.Exploring loan options with multiple participating lenders is a smart move that can save you thousands of dollars over the life of the loan. Comparing their interest rates, fees, closing costs, and loan terms can help you identify the most appealing offer. It’s possible that first-time home buyers will find better options than what USDA loans can offer.
USDA loan costs
When it comes to financing a home purchase with a USDA loan, it’s not just the mortgage rate that you need to consider. You’ll be responsible for various fees and costs, which can add up over time. Understanding these costs upfront can help you make a more informed decision and plan your budget accordingly.
Here’s a breakdown of the expenses you can expect:.
USDA mortgage insurance
The USDA guarantees its mortgage loans, meaning it offers protection to approved mortgage lenders in case borrowers default. But the program is partially self-funded. To keep this loan program running, the USDA charges homeowner-paid mortgage insurance premiums.
Verify your USDA loan eligibility. Start here
Upfront guarantee fee
One of the first costs you’ll encounter is the upfront guarantee fee. This fee is a percentage of the loan amount and is required by the USDA to secure the loan. It’s usually around 1% but can vary. You can either pay this fee upfront or roll it into the loan balance.
Annual guarantee fee
Unlike conventional loans that may not require mortgage insurance, USDA loans come with a monthly mortgage insurance premium. You can expect to pay a 0.35% annual guarantee fee based on the remaining principal balance each year.
The annual fee is broken into 12 installments and included in your regular mortgage payment.
As a real-life example, a home buyer with a $100,000 loan size would have a $1,000 upfront mortgage insurance cost plus a monthly payment of $29.17 for the annual mortgage insurance. USDA upfront mortgage insurance is not paid in cash. It’s added to your loan balance, so you pay it over time.
Inspection fees
Before the loan is approved, the property will need to be inspected to ensure it meets USDA property eligibility requirements. This inspection can cost anywhere from $300 to $500, depending on the location and size of the home.
Closing Costs
Closing costs are a mix of fees that include loan origination fees, appraisal fees, title search fees, and more. These costs can range from 2% to 5% of the home’s purchase price. Some of these costs can be rolled into the loan amount, but it’s best to be prepared to pay some of them out-of-pocket.
How to apply for a USDA home loan
Qualifying for a USDA home loan can be a great way to finance a home, especially if you’re looking to buy in a rural area. These loans offer attractive benefits like zero down payments and competitive interest rates.
However, the USDA loan approval process involves several steps and specific eligibility criteria. Here’s a guide on how to apply for a USDA home loan.
Check your USDA loan eligibility. Start here
Step 1: Check your eligibility
Before diving into the application process, it’s important to determine if you meet the USDA’s eligibility requirements. These typically include:
A minimum credit score of 640
A debt-to-income (DTI) ratio of up to 41%
Income limitations, which vary by location and household size
The property must be located in a USDA-eligible area
Step 2: Gather necessary documentation
You’ll need to provide various documents to prove your eligibility, including:
Proof of income eligibility (e.g., pay stubs, tax returns)
Employment verification
Credit history report
Personal identification (e.g., driver’s license, passport)
Step 3: Pre-Qualification
Contact a USDA-approved lender to get pre-qualified for a loan. During this qualifying process, the participating lender will review your financial situation to give you an estimate of how much you can borrow.
Check if you’re eligible for a USDA loan. Start here
Both pre-approval and pre-qualification can give you a better idea of your budget and show sellers that you are a serious buyer.
Step 4: Property search
Once pre-qualified, you can start looking for a property that meets USDA guidelines. Keep in mind that the home must be your primary residence and be located in an eligible rural area.
Working with a real estate agent who has experience with USDA loans can be a big advantage.
Step 5: USDA home loan application
After finding the right property, you’ll need to fill out the USDA loan application. Your lender will guide you through this process, which will include a more thorough review of your financial situation and the submission of additional documents.
Step 6: Property appraisal and inspection
The lender will arrange for an appraisal to ensure the property meets USDA standards. An inspection may also be required to identify any potential issues with the home.
Step 7: Loan approval and closing
Once the appraisal and inspection are complete and all documentation is verified, you’ll move on to the loan approval stage. If approved, you’ll proceed to closing, where you’ll sign all necessary paperwork and officially secure your USDA home loan.
With the loan secured and the keys in hand, you’re now ready to move into your new home!
By following these steps and working closely with a USDA-approved lender, you can navigate the USDA home loan process with confidence. Always remember to consult with your lender for the most accurate and personalized advice.
How do USDA loans compare to conventional loans?
USDA loans and conventional loans both have fixed terms and interest rates, but they’re different when it comes to down payments and fees.
Down payment
USDA loans don’t ask for a down payment, unlike conventional mortgages, which usually require a 3% down payment. FHA loans require a 3.5% down payment. VA loans, like USDA loans, also don’t require a down payment.
Home appraisal
Both USDA loans and conventional loans need an appraisal from an independent third party before the loan is approved.
The home appraisal for a conventional loan determines whether the loan amount and the home’s value match. If the loan amount doesn’t measure up to the market value of the home, the lender can’t get back their money just by selling the house. If you want to know more about the home’s condition, like the roof or appliances, you need to get a home inspector.
For a USDA loan, the appraisal does two things:
Just like with a conventional loan, it makes sure the home’s value is right for the loan amount.
It checks if the home meets USDA standards. This means the home should be ready to live in. For example, the roof and heating should work properly. The appraisal also looks at whether the well and septic systems follow USDA rules.
If you’re looking for a detailed report on the house, hiring a home inspector is still a good idea.
Fees
While conventional loans charge private mortgage insurance (PMI) when you make less than a 20% down payment, this isn’t the case with USDA loans. You don’t need PMI for USDA direct or guaranteed loans.
However, USDA guaranteed loans have a guarantee fee of 1% at closing and then an annual fee of 0.35% of the loan, added to your monthly payment. You can roll the initial fee into your loan amount.
Loan terms
The term for a USDA guaranteed loan is 30 years with a fixed rate. If you get a USDA direct loan, you can have up to 33 years to pay it back. If you’re a very low-income borrower, you might get up to 38 years to make it more affordable.
FAQ: USDA loans
Verify your USDA loan eligibility. Start here
What is the USDA Rural Housing Mortgage and who is eligible for it?
The USDA Rural Housing Mortgage, officially known as the Single Family Housing Guaranteed Loan Program, is a rural development loan aimed at helping single-family home buyers. It’s often referred to as a “Section 502” loan, based on the Housing Act of 1949 that created this program. Designed to stimulate growth in less-populated and low-income areas, this rural development loan is ideal for those looking to buy in eligible rural areas with the possibility of a zero-down payment.
What is the income limit for USDA home loans?
The income limit for USDA home loans is based on your area’s median income. To be eligible for a USDA loan, you can’t exceed the median income by more than 15 percent. For example, if the median salary in your city is $65,000 per year, you could qualify for a USDA loan with a salary of $74,750 or less.
Do USDA loans take longer to close?
USDA lenders have to send each loan file to the Department of Agriculture for approval before underwriting. This can add around two to three weeks to your loan processing time.
Can I do a cash-out refinance with the USDA program?
No, cash-out refinancing is not allowed in the USDA Rural Housing Program. Its loans are for home buying and rate-and-term refinances only.
What’s the maximum USDA mortgage loan size?
The USDA does not set loan limits, but your household income and debt-to-income ratio have a limit on the amount you can borrow. The USDA typically caps debt-to-income ratios at 41 percent. However, the program may be more lenient for borrowers with a credit score over 660 and stable employment or who show a demonstrated ability to save.
Where can I find a USDA loan lender, and what loan terms are available?
You can find a USDA loan lender by visiting the U.S. Department of Agriculture’s website, which maintains a list of approved lenders for the Rural Housing Program. The USDA Rural Housing loan offers a 30-year fixed-rate mortgage only, with no 15-year fixed option or adjustable-rate mortgage (ARM) program available.
Can I receive a gift or have the seller pay for my closing costs with a USDA loan?
Yes, USDA rural development loans allow both gifts from family members and non-family members for closing costs. Inform your loan officer as soon as possible if you’ll be using gifted funds, as it requires extra documentation and verification from the lender. Additionally, the USDA Rural Housing Program permits sellers to pay closing costs for buyers through seller concessions. These concessions may cover all or part of a purchase’s state and local government fees, lender costs, title charges, and various home and pest inspections.
Can I use the USDA loan for a vacation home, investment property, or working farm?
No, the USDA loan program is designed specifically for primary residences and cannot be used for vacation homes, investment properties, or working farms. The Rural Housing Program focuses on residential property financing.
Am I eligible for the USDA if I recently returned to work or am self-employed?
If you are a W-2 employee, you are eligible for USDA financing immediately, as there’s no job history requirement. However, if you have less than two years in a job, you may not be able to use your bonus income for qualification purposes. Self-employed individuals can also use the USDA Rural Housing Program. To verify your self-employment income, you will need to provide two years of federal tax returns, similar to the requirements for FHA and conventional financing.
Can I use the USDA loan program for home repairs, improvements, accessibility, and energy-efficiency upgrades?
Yes, the USDA loan program can be used for various purposes, including making eligible repairs and improvements to a home (such as replacing windows or appliances, preparing a site with trees, walks, and driveways, drawing fixed broadband service, and connecting utilities), permanently installing equipment to assist household members with physical disabilities, and purchasing and installing materials to improve a home’s energy efficiency (including windows, roofing, and solar panels).
Can a non-citizen qualify for a USDA loan?
Yes, along with U.S. citizens, legal permanent residents of the United States can also apply for a USDA loan.
Today’s USDA mortgage rates
USDA mortgage interest rates consistently rank among the lowest in the market, next to VA loans.
USDA loans can be particularly attractive to borrowers seeking optimal financial terms, especially in an environment with elevated interest rates. Prospective homebuyers who meet the criteria for a USDA loan may be able to secure a great deal right now.
To find out whether you qualify for one and what your rate is, consult with a trusted lender below.
Time to make a move? Let us find the right mortgage for you
1 Source: USDAloans.com, based on Housing Assistance Council data
FHA 203(k) loans provide funding to finance both a home’s purchase and the cost of repairing it. If you qualify, you can obtain one from an FHA-approved lender.
This type of loan is reserved for borrowers who intend to live in the home, not house-flippers or investors.
There are two types of 203(k) rehab loans: limited, for repairs less than $35,000, and standard, for more expensive projects.
When you buy a home, there are usually a few repairs to pay for. If you plan to take on a fixer-upper, you might be facing the prospect of many projects. If this is the case for you, you might be considering an FHA 203(k) loan.
What is an FHA 203(k) loan?
An FHA 203(k) loan, also known as an FHA 203(k) rehab loan or Section 203(k) loan, combines the financing for a home’s purchase and remodeling or repairs into a single loan. Along with these costs, you can also use a 203(k) loan to finance up to six months’ of mortgage payments while you live elsewhere during renovations.Like other FHA loans, a 203(K) loan is insured by the Federal Housing Administration and offered by FHA-approved mortgage lenders. It also comes with the requirement to pay FHA mortgage insurance.Types of 203(k) rehab loans
There are two types of FHA 203(k) loans: limited 203(k) and the more popular standard 203(k). Here’s an overview:
Key terms
Limited 203(k) loan:
Designed for non-structural projects valued at less than $35,000, with no minimum cost requirement
Standard 203(k) loan:
Designed for more extensive jobs, including major structural work like an addition, with a minimum cost requirement of $5,000
How does an FHA 203(k) loan work?
A 203(k) renovation loan can be a 15- or 30-year fixed-rate or adjustable-rate mortgage (ARM). The amount you can borrow depends on criteria such as your credit rating and income. The total amount borrowed through 203(k) loans must be within FHA loan limits for the area in which the home is located.
Generally, the most you can borrow for the loan is the lowest of the following:
The FHA’s maximum loan limit for the county where the property is located
The home’s before-renovation value plus improvement costs
The home’s after-renovation value
What can an FHA 203(k) loan be used for?
A standard 203(k) loan can cover many major projects, including:
Converting a property from one unit to up to four units, or the reverse
Foundation repairs
Adding or repairing a deck, patio or porch
Adding or remodeling a garage
Adding or repairing septic or well systems
Adding a fence
Adding accessibility features for those living with disabilities
Installing appliances
Landscaping
Remediating health and safety hazards, such as lead paint
This type of loan can’t cover improvements such as adding a gazebo, swimming pool or tennis court. It also can’t be used for repairs to co-ops or mixed-use properties, unless that property is primarily residential.
A limited 203(k) loan, in contrast, can cover upgrades like new carpeting or paint.
FHA 203(k) loan requirements
There are many requirements to qualify for an FHA renovation loan, including:
Occupation – The main restriction for an FHA 203(k) loan is that the borrower has to be the owner-occupant of the home. Investors are not eligible for this kind of loan, although in certain situations, nonprofit organizations might be allowed to obtain one.
Credit score and down payment – You’ll need a minimum credit score of 580 with 3.5 percent down, or a minimum score of 500 with a down payment of 10 percent.
Debt-to-income (RTI) ratio – Your debt-to-income (DTI) ratio, which measures your gross monthly income against your monthly debt payments, can’t exceed 43 percent.
Renovation rules – You can only use a limited 203(k) loan for non-structural renovations costing less than $35,000. For a standard 203(k) loan, the work has to involve major construction and cost at least $5,000.
Timeline – Generally, the work has to be completed within six months of closing.
How to get an FHA 203(k) loan
Once you’ve identified a home to buy and fix up, you can apply for a 203(k) loan with your lender. If you’re obtaining the standard version of the loan, the lender will assign a 203(k) consultant to your project. The consultant will visit the home to estimate repair costs. If you’re getting the limited 203(k), you’re not required to work with a consultant.
Once your lender signs off on these details and closes the loan, you’ll work with a licensed contractor to handle renovations. Ideally, this contractor should be familiar with 203(k) loans, especially the payment schedule and requirements. If you’re qualified, you might be able to do some or all of the work yourself, but you can’t use the loan proceeds for your labor cost.
The process from there works like a regular construction loan: The lender issues payments to the borrower at various phases of the renovation. As the project progresses, the consultant will inspect the work to authorize more payments. You’ll have six months to complete the renovations. Once the project is finished, you’ll provide a release letter and the consultant will evaluate the work.
FHA 203(k) loan pros and cons
An FHA 203(k) loan offers the opportunity to purchase a home that needs some work without having to obtain two loans. However, there are many rules to qualifying for this type of mortgage.
Pros of an FHA 203(k) loan
One loan for both purchase and renovations
Lower credit score requirement
Low minimum down payment requirement
Potentially lower interest rates compared to credit cards or home improvement loans
Can finance up to six months of mortgage payments if living elsewhere during renovations
Cons of an FHA 203(k) loan
Must plan to live in the home during or after renovation, for at least one year
FHA mortgage insurance payments required
Rates might be higher compared to buy-and-renovate conventional loans
Work must be completed in six months, in most cases
FHA 203(k) loan refinancing
You can use FHA 203(k) loans to purchase a fixer-upper or rehabilitate the home you already live in through a refinance. The process to refinance into a 203(k) loan is similar to a regular refinance, but you must meet the additional requirements of the 203(k) loan.
After refinancing, a portion of the 203(k) proceeds will pay off your existing mortgage, and the rest of the money will be kept in escrow until repairs are completed.You can also refinance an existing 203(k) mortgage through the FHA streamline program, which may help you get an even lower interest rate.
FHA 203(k) loan FAQ
An FHA 203(k) loan funds the purchase of a home and qualifying renovations, while a short-term construction loan funds renovations only. Once the project is complete, you can convert the construction loan to a regular mortgage. Depending on your credit and finances, a 203(k) loan might be easier to qualify for, but a construction loan has less restrictions around the types of improvements you can finance.
An FHA 203(k) loan can be used for single-family homes (including homes with accessory dwelling units, or ADUs), duplexes, triplexes or another multifamily home up to four units. It can also be used for an eligible condo or manufactured home, or a townhome. You might be able to use it for a mixed-use property, as well, provided the property is majority-residential.
If you’re qualified — say, a licensed general contractor — you might be able to do some or all of the work yourself. You cannot reimburse yourself for labor costs with the 203(k) loan proceeds, however.
An FHA 203(k) loan allows you to use funds for everything from minor repair needs to nearly the entire reconstruction of a home, as long as the original foundation is intact.
FHA 203(k) loans are one of several options to pay for home improvements. These alternatives include a conventional HomeStyle or CHOICERenovation loan; a cash-out refinance; a home equity line of credit (HELOC) or home equity loan; credit cards; or personal loans. You might also explore co-investment or shared equity companies, which provide financing in exchange for a piece of your home’s appreciation when you sell.
Inside: Discover the secrets to earning $200k a year. Learn to choose industries, negotiate salaries, and balance life with high-income careers.
Achieving a $200,000 annual income is a financial milestone that many aspire to reach, but not everyone knows how to realistically attain.
Whether you’re starting from scratch or looking to elevate your current earnings, the blueprint to a $200K income is within your grasp. It all begins with a strategic approach that leverages both a steady job and an entrepreneurial spirit.
Achieving a $200k salary is not just about luxury—it’s about stability and security. With rising living costs, including student loans, mortgages, and everyday expenses, earning a high income is increasingly vital to maintaining a comfortable lifestyle.
By combining the stability of a well-paying career with the dynamism of a side hustle, you can fast-track your way to this lofty goal.
In this comprehensive guide, we dive deep into a method that suits everyone to make $200000 this year.
You’ll learn how to harness your passions, manage your time and expenses, and create a foolproof plan that caters to your strengths and circumstances.
How to Make 200k a Year
Achieving this level of annual income is a significant financial goal that necessitates a well-devised strategy combining steady employment with entrepreneurial endeavors.
This is possible for anyone to do. You have been making 10k a month for a while now and want to make the leap.
You just must be steadfast in pursuing your goals.
#1 – Identify high-income skills and industries
The first step toward making $200k a year is to recognize the skills and industries that command such salaries. Technology and finance are prime examples where hard work and expertise can lead to impressive earnings right out of college.
Specialized skills in software development, cybersecurity, data analysis, and AI are highly sought after. Additionally, roles in investment banking, private equity, and hedge funds are lucrative but come with intense competition and long hours.
Identifying these prospects involves understanding market needs, so be prepared to continually adapt to the latest industry trends. I cannot stress how important these high income skills are for your income.
Top Skills: Software Development, Cybersecurity, Data Analysis, Artificial Intelligence, Financial Analysis
Top Industries: Tech, Finance, Consulting, Healthcare, Legal
#2 – Degrees and Courses That Could Lead to 200K Jobs
If you’re seeking a high-paying career, focusing your education in specific areas is crucial. Advanced degrees, such as a doctoral degree in medicine, law, business administration (MBA), or specialized engineering can pave the way to high-paying roles.
For those with a penchant for academia, pursuing specialized courses that lead to becoming a medical lawyer, dentist, neurologist, psychiatrist, or gynecologist can be extremely rewarding. However, keep in mind that these paths generally require significant time and financial investment in education before reaping the financial rewards.
However, there are plenty of low-stress jobs that pay well without a degree.
Recommended Degrees: Medicine, Law, Engineering, Business Administration (MBA)
Embarking on entrepreneurship is a thrilling yet challenging path to reach unlimited annual income.
To start a business that prospers, it’s essential to identify a market need and create a clear business plan. Whether you’re selling a physical product, offering a service, or thriving in the digital market through online marketing, e-commerce, or app development, dedication, and strategic growth are paramount.
Investing both time and capital wisely, and adapting to market feedback can help you scale your business to meet and exceed your financial goals.
Investment Tip: Consider start-up costs carefully, and plan for lean operation.
Growth Strategy: Focus on customer satisfaction, scaling smartly, and marketing effectively.
#4 – Advance in your current career
Climbing the corporate ladder within your existing professional environment is a viable route to a higher salary.
To do this, focus on excelling in your current role, continuously improve your skills, and demonstrate the value you add to the company. Seek out leadership roles, ask for challenging projects, and take on responsibilities that align with the company’s revenue-generating activities.
Remember, promotions often come with significant pay raises, and it’s essential to communicate your career goals with your employer to align your trajectory with the available opportunities. Just watch the number of working hours you put in.
Key Strategies: Exceed performance expectations, take initiative, and pursue leadership roles.
Professional Development: Continued education, certifications, and networking are critical for advancement.
#5 – Invest in real estate for passive income
Real estate investment remains a cornerstone strategy for building wealth.
Focusing on location is key; properties in high-demand markets can yield substantial returns through rental income and appreciation. Paying with cash rather than financing can lead to better deals and avoid interest payments, as debt can eat into profits.
Moreover, platforms like Fundrise allow investors to start with as little as $10, which could be a smart move if you’re seeking a hands-off investment with a diverse real estate portfolio.
Investment Insight: Cash purchases may provide better deals, reducing financial risk.
Real Estate Tip: Choose high-demand locations for better rental income and property appreciation.
#6 – Maximize income through stocks or other investments
Investing in the stock market through individual stocks, mutual funds, or exchange-traded funds (ETFs) is another way to potentially earn $200k a year. Dividends from some of these investments can also serve as a consistent income stream.
Consider focusing on industries poised for growth or stable dividend-paying stocks, as these can offer a balance between growth potential and income reliability.
Additionally, alternative investments such as cryptocurrencies or option contracts can offer high returns, but come with high volatility. Always conduct thorough research or consult with a financial advisor before making significant investment decisions.
Learn how to invest in stocks for beginners.
Investment Strategy: Diversify your portfolio, focus on growth sectors, and consider enhancing your investment knowledge.
Cautionary Note: Be aware of market risks and do not invest more than you can afford to lose.
#7 – Gain Relevant Experience in High-Demand Fields
To command a $200k paycheck, it’s essential to gain experience in fields where the demand for your skills exceeds the supply.
Industries such as technology, healthcare, and specialized consulting are in constant need of experienced professionals. Work on projects that showcase your expertise and build a robust professional portfolio.
You can also consider a side hustle like freelancing or consulting to gain a broad range of experiences that can make you an attractive candidate for high-level positions.
Experience Building: Take on varied projects, freelance, or consult in your niche.
Portfolio Enhancement: Document your successes and gather testimonials or recommendations.
#8 – Continuous Learning and Adaptability to Stay Ahead
In the dynamic job market, staying complacent can mean getting left behind. Cultivating a habit of lifelong learning and adaptability is crucial. Did you know you are an appreciating asset?
This may involve updating your skill set to keep pace with technological advancements, attaining new certifications, or attending industry conferences and workshops. Remember that cross-skills, like project management or business analytics, are also valuable and can complement your primary expertise.
Embrace change and be willing to pivot when necessary to maintain your competitive edge and earning potential.
Professional Development: Seek out further education and certifications.
Adaptability: Stay open to industry shifts and be ready to pivot your skills accordingly.
Careers That Make 200K a Year is Common
In certain careers, a $200K annual salary is not an exception but rather a common expectation.
Positions in healthcare such as surgeons, specialists, and anesthesiologists often offer salaries exceeding this amount. Moreover, top-level executives, experienced lawyers, and investment bankers are typically in the higher income bracket due to the high stakes and demands of their industry. In tech, senior software engineers and IT executives with strong track records in hot markets like Silicon Valley can command these salaries, too.
Success in these careers requires a combination of advanced education, considerable experience, and sometimes, the right location.
Within these industries, focus on roles that are crucial to core operations, innovation, or revenue generation.
For tech, this might involve AI, machine learning, and cybersecurity. In finance, investment strategists and financial advisors are in demand. In healthcare, specialized practitioners command higher salaries whereas, in the legal field, corporate lawyers and litigators typically earn more.
Just to note… taxes will take a substantial amount out of your paycheck. So, you want to aim for $200k as net income.
Factor #2 – Climbing the Ladder: From Mid-Level to Top-Tier Positions
Transitioning from a mid-level position to top-tier status demands a proactive career strategy. Aim for roles that impact the company’s bottom line, such as project management or strategic planning, which often lead to executive positions.
Make sure to seek mentors who can offer guidance, and build a reputation for reliability and innovation. Networking within your industry can uncover hidden opportunities and give you a competitive edge.
Strategic Positioning: Focus on profit-impacting roles and responsibilities.
Career Growth: Network, seek mentorship, and demonstrate leadership capabilities.
Always aim to bring value to your organization, as this will be your leverage when seeking promotions and negotiating salary increments.
Factor #3 – Negotiation Tactics for a High Paying Salary
Securing a salary of $200k often hinges on your ability to negotiate effectively.
Begin the negotiation process by researching the standard salary for your position in your industry and region. Articulate your value by enumerating your accomplishments, experiences, and the results you can deliver.
Prioritize non-salary benefits that may be equivalent to a higher income, such as bonuses, commission, stock options, or flexible work arrangements. When discussing figures, aim higher to give room for negotiation.
Research: Know industry salary benchmarks.
Value Proposition: Clearly communicate your potential contribution.
Remember, negotiation is a dialogue, so listen carefully, be respectful, and maintain a professional demeanor throughout the process.
Factor #4 – Building Professional Relationships That Open Opportunities
Fostering robust professional relationships is key to unlocking high-paying roles, as connections can lead to opportunities that aren’t publicly advertised.
Networking is an art. It goes beyond just asking the question, “What do you do for a living?“
Actively engage with peers at industry events, be genuinely interested in others, and offer help before you ask for it. Maintain a positive online presence on platforms like LinkedIn, where you can connect with like-minded professionals and hiring managers.
Networking: Engage in industry events and platforms like LinkedIn.
Relationship Management: Nurture connections and seek meaningful interactions.
Don’t forget to nurture existing relationships – a recommendation from a trusted colleague can provide a significant edge in landing a coveted position.
Factor #5 – Cities and Regions with the Best High-Paying Job Markets
If you’re eyeing a lucrative salary, it’s strategic to consider the geographic landscape of high-paying jobs.
Major economic hubs like New York City, San Francisco, and Boston have dense concentrations of Fortune 500 companies and start-ups that offer competitive salaries, especially in finance and tech. However, these cities come with higher costs of living.
Comparatively, cities like Austin, Seattle, and Denver have burgeoning tech and business sectors with a more balanced cost of living.
Economic Hubs: New York City, San Francisco, Boston.
Balance Seekers: Austin, Seattle, Denver.
Consider looking for cities that have a vibrant job market in your industry, but a reasonable cost of living to maximize your income-to-expense ratio.
Factor #6 – Remote Work: A Gateway Being Global
The rise of remote work has opened a world of possibilities for professionals seeking higher salaries. You can work in a low cost of living country and still get a good income and save the rest.
With remote positions, you’re not limited by location and can work for companies with higher pay scales in stronger economies, practicing geographic arbitrage to your advantage. Sectors like tech, marketing, and design are ripe with remote opportunities that pay well.
Geographic Arbitrage: Tap into stronger economies and work remotely.
Global Accessibility: Utilize online platforms to access high-income roles worldwide.
To capitalize on this, enhance your digital presence, showcase your skills online, and engage with global job platforms. Also, consider the time zones and cultural work patterns of employers to ensure a smooth collaboration.
FAQs About Securing a 200K Job
A salary of $200k is relatively rare, with only a small percentage of U.S. households earning at this level.
According to recent statistics, 11.9% of U.S. households had an annual income over $200,000.1
However, this figure can vary significantly by industry, location, and level of experience.
This is 100% possible with the rise of technology and the internet.
To do this, you must focus on industries that value skills and experience over formal education.
Professions like real estate brokering, high-level sales, business entrepreneurship, or becoming a skilled tradesperson. You just need strong persistence.
The likely answer is typically one needs a grad degree or extensive experience in high-paying fields like medicine, law, engineering, or business.
However, specialized certifications, proven expertise, exceptional skills, or entrepreneurship can also be your ticket to this income level without traditional qualifications.
What Jobs Pay 200k a Year Interest You?
Now that you’re equipped with knowledge about reaching a $200k salary, consider which roles resonate with your skills and passions.
Maybe you’re intrigued by the challenge of a tech startup, or the idea of saving lives as a healthcare specialist is what drives you. Perhaps the strategic element of financial planning appeals to your analytical side, or the autonomy of forging your path as an entrepreneur is a calling.
Remember, selecting a profession that not only offers financial rewards but also aligns with your interests and values is crucial for long-term satisfaction and success. High tech degrees are highly sought after right now.
The great part about making this amount of money is you can increase your savings rate, but that doesn’t mean you should leave beyond your means.
There are plenty of avenues that will have you making over six figures quickly.
Source
Statistic. “Percentage distribution of household income in the United States in 2022.” https://www.statista.com/statistics/203183/percentage-distribution-of-household-income-in-the-us/. Accessed February 28, 2024.
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Home renovation is rarely straightforward and always carries the risk of additional costs—and that’s particularly true for those who need accessible home modifications. Whether you need to build an entry ramp or adapt a bathroom, it helps to be aware of funding options that can help homeowners.
About 27% of the U.S. adult population has a disability, according to the Centers for Disease Control and Prevention. And 12% of people with disabilities face a mobility issue that may impact walking, climbing stairs, or getting around the house. The good news: There’s help for millions of people to pay for renovations that make their homes more accessible, whether they have physical disabilities that impact mobility, are deaf or hard of hearing, are blind or have diminished vision, are neurodivergent, or have other disabilities that may require a home modification.
Funding resources can come from federal, state, and local government grants. Other options include private loans and nonprofit funding. This guide can make it easy to find the right funding source to help offset (and potentially cover) the cost of home modifications for accessibility.
Home modification costs at a glance
Starting a home repair project can seem daunting. “Home modifications for accessibility can range from simple changes like installing grab bars in bathrooms to more extensive renovations like widening doorways or installing ramps,” says Ladina Schöpf, founder of a Zurich-based architecture planning firm. “The costs can vary, depending on the scope of the modifications and the specific needs of the individual,” Schöpf says.
From minor modifications (some of which you may be able to handle yourself) to major structural changes, the cost of home remodeling for individuals with motor disabilities can range from less than $100 to more than $60,000.
Here are a few examples of common home modifications for people with disabilities and the average price, according to a disability remodeling cost guide from Fixr, an online resource center focused on home improvement and repair projects.
Install a chairlift: $3,000–$5,000
Build a wheelchair ramp: $1,700–$5,000
Widen a doorway: $300–$2,500
Add grab bars: $85–$300
Install a specialized doorbell (for people with hearing impairments): $50–$500
Add auditory smoke detectors (for people with vision impairments): $70–$150
One of the top sources for grants for home modifications for people with disabilities is the U.S. government, which has several programs to help homeowners cover the cost of their accessible home modifications.
U.S. Department of Agriculture
The U.S. Department of Agriculture (USDA) provides loans and grants for low-income rural residents through its Rural Development program. The maximum loan amount is $40,000, and the maximum grant allowance is $10,000. Loans and grants from this USDA program may be combined for up to $50,000 in assistance for home repairs.
To qualify for the program, applicants must own their home and live in the house. Additionally, homeowners must prove they can’t obtain affordable credit elsewhere if they apply for the Rural Development program, also known as the Section 504 Home Repair program.
Further, this program only applies to single-family homes in select areas. Applicants should first check if their home is in an eligible area on the USDA website. For grants, applicants must be age 62 or older.
U.S. Department of Veteran Affairs
There are also grants available from the U.S. Department of Veteran Affairs. As you might’ve guessed, applications for these grants are limited to veterans and service members with certain service-connected disabilities. Beyond those qualifiers, the grants vary depending on whether the applicant owns (or plans to own) the home being modified. Veterans who don’t own their home but need help modifying it for their disability can still apply for specific grants.
Specially Adapted Housing (SAH) grant. It’s the most significant grant available, as successful applicants can receive up to $117,014 in 2024. This type of grant requires that applicants own or plan to own the home being modified.
Special Home Adaptation (SHA) grant. This grant is designed for veterans with qualifying service-connected disabilities who live in their own home or one owned by a family member. The grant provides up to $23,444 (as of 2024) and doesn’t need to be used within a single calendar year. This flexibility is nice in case future modifications are required.
Temporary Residence Adaptation (TRA) grant. This type of grant caters to veterans and service members in temporary housing arrangements. Veterans need to qualify for either the SAH or SHA grant to apply for the TRA, which differs in that it doesn’t require the grant applicant to own the home and instead covers changes needed when the veteran is temporarily living with a family member. The amount of this grant depends on whether the applicant would qualify for an SAH or an SHA grant: if SAH, then the grant provides up to $47,130 in 2024; if SHA, then the grant provides up to $8,415.
Home Improvements/Structural Alterations grant. This grant provides up to $6,800 to pay for modifications for service-related disabilities and up to $2,000 for other disabilities.
State and local home modification grants
The federal government isn’t the sole funding source for costs associated with home modifications for individuals with disabilities. There are also state and local programs that provide financial assistance when modifying a home for accessibility.
U.S. Department of Housing and Urban Development
The U.S. Department of Housing and Urban Development (HUD) website has a state-by-state breakdown of homeowner assistance programs. Loan amounts and qualifying criteria will vary by state, so it’s best to research your home state to determine how much money is available for homeowners making repairs or modifications for accessibility.
The Independent Living Research Utilization program was started in the late 1970s and, in the decades since, has provided a comprehensive list of resources for people with disabilities who strive to live independently. Like the HUD resource list, this is organized by state and includes local funding options.
The National Directory of Home Modification and Repair Resources has an interactive map with many resources that homeowners can explore while researching funding options.
Nonprofit resources for home modifications
Homeowners can apply for funding from nonprofits as they modify their homes and make them more accessible.
Habitat for Humanity
This nonprofit is well known for building homes for low-income families. The Habitat approach relies on both volunteer workers and the homeowners themselves taking an active role in building for their future through a process known as “sweat equity.” Even though a prospective homeowner’s disability may limit their ability to participate in construction work, Habitat for Humanity has ways for all future homeowners to take an active role through means like homeowner education courses or volunteering at Habitat’s storefronts.
The National Disability Institute
The National Disability Institute is another nonprofit group, and its Assistive Technology Loan Program provides loans up to $45,000 to help pay for hearing and vision aids, communication devices, environmental adaptations, wheelchairs, and home or vehicle modifications for New York and New Jersey residents.
Other financing options for home modifications
Many homebuyers may face headwinds from high interest rates and limited supply, and the added cost of home remodeling for disability modifications compounds the pressures that disabled homebuyers face.
Brady Bridges is a real estate broker/owner in the Fort Worth, Texas area, and he encourages homebuyers to think outside the box if they need additional funding options for home modifications. “In the current housing market climate, the Fannie Mae HomeReady loan program is a viable financing option for home modification for individuals with disabilities,” Bridges says. “Disabled homebuyers who earn less than area median income and with a credit score of 620 or higher can benefit from a low down-payment requirement, as low as 3%,” Bridges says, “with the option to use grants or assistance funds for the entire down payment.”
Every extra bit of financial wiggle room helps in purchasing a new home, and it’s especially useful when budgeting for accessible home remodeling projects that may be required after the home purchase.
Putting it all together
Once you research the price ranges of common accessibility modifications and clarify how much your projects will cost, you can effectively and realistically start to budget for these updates. But you’re not necessarily on your own when it comes to paying for these modifications. There are many funding options for accessible home modifications out there that can lessen the financial burden of making a home comfortable for a differently abled person.
Make a plan to start your project on the right foot and proceed confidently. To kick-start your savings, consider a Discover® savings account, which offers a competitive savings rate with no account fees.
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Richmond is a city with a deep-rooted history, remarkable landmarks, and a unique blend of cultural, outdoor, and culinary experiences. It’s a place where history intertwines with modern-day vibrancy, offering a multitude of experiences for both residents and visitors. Richmond doesn’t just rest on its historical laurels; it continuously evolves, making it a fascinating city to explore.
From its pivotal role in American history to its thriving arts scene, Richmond is a city that proudly showcases its achievements and attractions. Whether you’re drawn by the call of the James River or the allure of its historic streets, this guide will introduce you to what makes renting an apartment in Richmond a great call.
1. Richmond National Battlefield Park
Richmond is steeped in American Civil War history, having once served as the capital of the Confederacy. The city’s landscape is dotted with battlefields, museums, and monuments that tell the complex story of one of America’s most turbulent times. Places like the American Civil War Museum and the Richmond National Battlefield Park provide insightful perspectives into the war’s impact on the nation and the city. Richmond’s dedication to preserving its history allows visitors and residents alike to step back in time and understand the significant role the city played in shaping the country we live in today.
2. The Virginia State Capitol
Designed by Thomas Jefferson, the Virginia State Capitol is a monumental symbol of American architectural and political history. Standing regally in the heart of Richmond, this iconic building not only serves as the seat of the state’s government but also as a testament to the enduring principles of democracy. Guided tours offer a glimpse into Virginia’s legislative process and the building’s remarkable design, making it a must-visit for anyone interested in the interplay between architecture and American history.
3. James River
The James River is the lifeblood of Richmond, offering a natural escape amid the city’s hustle and bustle. It’s a haven for outdoorsy types, with activities ranging from whitewater rafting and kayaking to tranquil walks along the scenic riverside trails. The James River Park System provides countless opportunities for adventure and relaxation, highlighting the city’s commitment to preserving its natural beauty while fostering a strong community connection to the outdoors.
4. Growing craft beer scene
Richmond is known for its craft beer revolution, with numerous breweries, notably The Answer Brewpub and Hardywood Park Craft Brewery, offering locally brewed selections. Food festivals and farmer’s markets add to the city’s foodie appeal, making it a destination for those who love to explore flavors and foods.
5. Virginia Museum of Fine Arts
Richmond’s arts scene is second to none, with a thriving community of artists, musicians and performers. The Virginia Museum of Fine Arts (VMFA) stands out as a beacon of cultural enrichment, showcasing an extensive collection that spans the globe and centuries.
6. The Fan and Church Hill
Richmond’s historic architecture is a visual journey through the city’s past, from colonial times to the present day. Neighborhoods like The Fan and Church Hill boast picturesque streets lined with beautifully preserved homes, offering a glimpse into the city’s architectural evolution. This blend of historical and contemporary architecture underscores Richmond’s respect for its past while embracing modern development.
7. Mymont Park and Belle Isle
In addition to the James River Park System, Richmond hosts a ton of outdoor recreation options. The city’s parks, like Maymont and Belle Isle, provide a peaceful respite from city life, with beautiful gardens, hiking trails and wildlife exhibits.
8. Richmond Folk Festival and more
Richmond is a city that loves to celebrate, hosting a ton of festivals and events throughout the year. From the Richmond Folk Festival to the Richmond International Film Festival, these gatherings showcase the city’s diverse talents and community spirit. Seasonal events, like the Dominion Energy Christmas Parade and the Monument Avenue 10k, bring residents together to celebrate the city’s culture and traditions.
9. VCU and University of Richmond
Home to renowned institutions like Virginia Commonwealth University (VCU) and the University of Richmond, the city is a hub for education and innovation. These universities not only provide top-tier education but also contribute to the city’s culture and economy. Research initiatives, startup incubators and collaborative projects between the universities and local businesses underscore Richmond’s role as a center for innovation and growth in the Southeast.
10. Richmond’s riverfront
The revitalization of Richmond’s riverfront has transformed the city’s relationship with the James River, making it a focal point for leisure and entertainment. T. Tyler Potterfield Memorial Bridge, part of the Virginia Capital Trail, offers stunning views of the river and connects several of Richmond’s most walkable districts, promoting a sense of community and accessibility.