Stav Gaon, from Academy Securities Inc., pointed out that this could be the largest holdback ever witnessed in this segment of the US securities market. This move not only poses immediate financial implications for the investors involved but also introduces a layer of unpredictability regarding how servicers will handle troubled assets moving forward. “This is … [Read more…]
Another reason why the Fed can let the CRE swoon rip.
By Wolf Richter for WOLF STREET.
The multifamily segment of Commercial Real Estate – apartments – is holding up better than office, retail (the Brick-and-Mortar Meltdown since 2017), and lodging, though it’s cracking too with some spectacular defaults over the past 12 months or so. Yet, US banks and thrifts and foreign banks hold only a small-ish portion.
Total mortgages backed by multifamily properties rose by 4.4% year-over-year in Q4, or by $88 billion, to $2.09 trillion, according to the Mortgage Bankers Association, based on its own data, and on data from the Federal Reserve, Trepp, and the FDIC.
Of those mortgages:
US government agencies, US Government Sponsored Enterprises (GSEs), state and local governments, and state and local government pension funds held 54.8%, or $1.09 trillion.
US banks and thrifts and foreign banks held 29.3%, or $612 billion.
Life insurers held 11.3%, or $235 billion.
Another 3.2%, or $67 billion, had been securitized into CMBS, CDOs, and ABS, and those securities were held by investors.
Other investors, including private pension funds and REITs, held 2%.
The blue line represents federal government backed entities – including MBS issued and guaranteed by those entities, Quite an interesting trend (chart via MBA):
The MBA excludes loans for acquisition, development and construction, and loans collateralized by owner-occupied commercial properties.
For about a year, we’ve been reporting on how non-bank entities, from CMBS holders to PE firms, were on the hook for office and other CRE mortgages, how the biggest losses have hit these investors, particularly the CMBS investors, and not banks. And among the banks that it did hit, there were a slew of foreign banks.
But with the multifamily segment of CRE, it’s mostly federal, state, and local government entities, including their pension funds that are on the hook – meaning the taxpayers are on the hook for 54.8% of all multifamily mortgages.
And the Fed couldn’t care less about taxpayers. The Fed is worried about the banks, not a few individual banks, but about contagion across the banking system triggering a banking panic. But with the 4,026 US banks with $23 trillion in total assets holding only $612 billion in multifamily mortgages – well, that’s less than 3% of their total assets. In other words, the banking system overall isn’t fundamentally threatened by bad multifamily loan.
Even if many of the banks’ $612 billion in multifamily loans default, they’re secured by multifamily buildings with some value, so the losses are going to be only fraction of the $612 billion, spread over 4,026 banks with $23 trillion in total assets.
As always, some smaller banks with concentrated exposure in some markets may eventually topple under defaulted multifamily loans. Fitch thinks 49 tiny banks are heavily exposed to troubled multifamily loans, and some of those banks make topple. In nearly every year, some banks toppled, and it’s just part of the risks in the banking system, and it’s the FDIC’s job to mop up those local messes at investors’ expense.
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“We have a very strong view that in the near future, you’re going to start seeing a lot of consolidation of these banks, and I think if you look at it on a macro scale, there’s a big necessity right now for this consolidation.” Should regulators embrace a shift towards commercial private solutions? A “stalemate” … [Read more…]
Colorado Springs, with its stunning mountain views and lively outdoor culture, is a city that invites exploration. For renters who prefer to navigate their surroundings on foot, certain neighborhoods stand out for their walkability. Rentals are also fairly affordable, with the average one-bedroom apartment costing $1,440.
In this ApartmentGuide article, we’ll uncover the most walkable neighborhoods in Colorado Springs. From the charming streets of Shooks Run to the historic allure of Old Colorado City, prepare to discover the city’s most pedestrian-friendly areas.
All data sourced March 2024.
1. Shooks Run
Walk Score: 72
Shooks Run is the most walkable neighborhood in Colorado Springs, with a Walk Score of 72. Known for its beautiful trails and parks, residents and visitors alike can explore the area and take advantage of its walkable layout. Notable attractions include Shooks Run Park and the Pikes Peak Greenway Trail.
Search for Shooks Run apartments for rent.
2. Downtown
Walk Score: 69
Downtown has a Walk Score of 69, making it the second most walkable neighborhood in Colorado Springs. There’s a lot to love about the area, from its historic architecture to its diverse arts scene. While you’re walking around the neighborhood, check out the Colorado Springs Pioneers Museum.
See Downtown apartments for rent.
3. Knob Hill
Walk Score: 64
Knob Hill is the third most walkable neighborhood in the city. There are numerous walkable areas and attractions throughout Knob Hill, like the eclectic shops and eateries along Platte Avenue. And if you’re in the mood for an adventure, you’re not far from Memorial Park.
Find Knob Hill apartments for rent.
4. Westside
Walk Score: 63
Westside has plenty of amenities a resident might need within walking distance. From local boutiques to cozy cafes, you’re sure to find something to love. A notable amenity is Bancroft Park, which is a great spot for locals and visitors alike.
Browse Westside apartments for rent.
5. Ivywild
Walk Score: 58
As the fifth most walkable neighborhood in the city, Ivywild is known for its unique blend of residential and commercial spaces. Consider exploring Ivywild Park or grabbing a bite to eat at the Ivywild School with friends. There are plenty of other amenities in this urban community as well, like the Millibo Art Theatre and Bristol Brewing Company.
Discover Ivywild apartments for rent.
6. Old Colorado City
Walk Score: 57
Old Colorado City has a Walk Score of 57, making it the sixth most walkable neighborhood in Colorado Springs. Known for its historic charm, residents and visitors can choose from walkable amenities such as Bancroft Park and the Old Colorado City Historic District. While you’re out, check out the Magic Town museum.
Look for Old Colorado City apartments for rent.
7. North End
Walk Score: 55
North End is the seventh most walkable neighborhood in the city. This quiet community has quite a few hotspots for residents to visit on foot, including the Patty Jewett Golf Course and the Bon Shopping Center. While you’re walking, take a moment to smell the flowers at Monument Valley Park.
Search for North End apartments for rent.
8. Venetian Village
Walk Score: 55
Venetian Village has a Walk Score of 55, making it the eighth most walkable neighborhood in the city. There’s a lot to love about the area, from grabbing a bite to eat at Omelette Parlor, to taking a walk at Nancy Lewis Park. If you’re up for a longer outing, nearby Colorado Springs Country Club is popular among locals.
Find Venetian Village apartments for rent.
9. Divine Redeemer
Walk Score: 55
The ninth most walkable neighborhood in Colorado Springs is Divine Redeemer. Pedestrians can enjoy the variety of restaurants, cafes, and shops, like Wooglin’s Deli and Poor Richard’s Downtown. It’s also easy to walk over to Acacia Park for a great day out.
Peruse Divine Redeemer apartments for rent.
10. Stratton Meadows
Walk Score: 53
Stratton Meadows is the tenth most walkable neighborhood in the city. Local attractions here include Broadmoor Towne Center and Meadows Park, providing residents a spot to get together and enjoy their mile-high community.
Discover Stratton Meadows apartments for rent.
Methodology: Walk Score, a Redfin company, helps people find walkable, bikeable, and transit-friendly places to live, rating areas on a scale from 0-100. To calculate a Walk Score for a given point, Walk Score analyzes thousands of walking routes to nearby amenities, population density, and metrics such as block length and intersection density. Points are awarded based on the distance to amenities in each category.
Refinancing your mortgage, or replacing your existing home loan with a new one, can lower your interest rate and monthly payments or even get you extra cash from the equity in your home.
Not all homeowners are approved for refinancing, though. With home prices and interest rates still high, lenders are careful about who they approve. The rejection rate on mortgage refinance applications increased to 15.5% in 2023 from 9.9% in 2022, according to the Federal Reserve Bank of New York.
If you’ve been turned down, you still have options for refinancing — and ways to improve your chances next time.
What we’ll cover
Compare offers to find the best mortgage
Common reasons mortgage refinancing is rejected
Lenders rely on federal underwriting guidelines from Fannie Mae and Freddie Mac when deciding whether to approve a refinancing application. Some issues are easier for borrowers to address than others.
High debt-to-income ratio
How much of your money is tied up in paying off debts isa major factor in getting approved for refinancing. Your debt-to-income (DTI) ratio is determined by dividing your total monthly debts (including your current mortgage) by your gross monthly income.
A DTI of 35% or less is ideal, according to Experian, although lenders typically will consider a ratio up to 43% for refinancing a conventional mortgage, depending on how strong the rest of their application is.
Low credit score
A credit score of at least 620 is usually needed to secure refinancing, although you may be able to get FHA cash-out refinancing with a score in the 500s.
Low home appraisal
An appraisal of your home’s fair market value ensures it hasn’t significantly depreciated, especially to the point that it’s worth less than what you owe (known as an “underwater mortgage”).
If the appraisal indicates your home is in poor condition or has renovations that are not up to code, it could also lead to being turned down.
Not enough home equity
The amount of your home that you own outright is known as home equity. If you put 5% of the cost of the property as a down payment, you’re starting with 5% home equity. That amount increases as you make mortgage payments and as the home’s value increases. You typically need to own at least 20% of your home outright to refinance your mortgage.
Employment history
According toFannie Mae’s underwriting guidelines,lenders look at an applicant’s career history and income over several years. Ideally, they want to see at least two years at your current job, but you probably won’t have to worry about a promotion or a better-paying job in the same industry. A consistent income is the key.
Taking a lesser role or lower-paying job and lengthy gaps in employment are more serious red flags, as is changing jobs in the middle of the application process. However, you can always try to explain your circumstances to your lender.
What to do if you’ve been rejected for refinancing
Find out why you were denied
Lenders are legally required to explain why you’ve been turned down. Find out the reason (or reasons) and if possible, make any necessary changes so you’ll be approved next time.
Shop for another lender
You may need a lender that is willing to accept a lower credit score. Rocket Mortgage works with applicants with scores as low as 580, rather than the 620 required by most lenders.
Rocket Mortgage Refinance
Annual Percentage Rate (APR)
Apply online for personalized rates
Types of loans
Conventional loans, FHA loans, VA Interest Rate Reduction Refinance Loan (IRRRL) and jumbo loans
Fixed-rate Terms
8 – 29 years
Adjustable-rate Terms
Not disclosed
Credit needed
580 if opting for FHA loan refinance or VA IRRRL; 620 for a conventional loan refinance
Already have a mortgage through Rocket Mortgage or looking to start one? Check out the Rocket Visa Signature Card to learn how you can earn rewards
Ally Bank offers cash-out refinances for conventional and jumbo loans, allowing homeowners to convert their home equity into cash and take out a loan that’s larger than their current mortgage. Ally doesn’t charge application, origination or processing fees and its website has a refinance calculator that provides customized rates without affecting your credit score.
Ally Home
Annual Percentage Rate (APR)
Apply online for personalized rates; fixed-rate and adjustable-rate mortgages included
Types of loans
Fixed-rate, adjustable-rate and jumbo loans available
Fixed-rate Terms
15 – 30 years
Adjustable-rate Terms
5/6 ARM, 7/6 ARM, 10/6 ARM
Credit needed
Not disclosed
Terms apply.
Pay down your existing mortgage
If you didn’t put 20% down when you bought your home, you may need to pay off another chunk of your mortgage before you’re able to secure refinancing.
Work on your credit
If your credit is the problem, take some time off to raise your score. Focus on making on-time bill payments and lowering your credit utilization ratio, or the amount of available credit you’re using. Avoid opening or closing any lines of credit and check your credit reports for any errors.
Experian Boost™ is a free way to improve your credit score. It links utility, phone and streaming service payments to your Experian credit report and uses the You’ll get an updated FICO® score delivered to you in real-time.
Experian Boost™
On Experian’s secure site
Cost
Average credit score increase
13 points, though results vary
Credit report affected
Experian®
Credit scoring model used
FICO® Score
Results will vary. See website for details.
How long should I wait before applying again?
Technically, you can reapply right away, but each application requires a hard credit check, which temporarily lowers your FICO score. So, consider why you were rejected first — if your credit score was too low or you don’t have enough home equity, address the issue before applying again.
If you were turned down because of a recent job change, you may have to wait up to two years to reapply.
How to lower your mortgage payments without refinancing
Whether it’s because you’ve been denied or the rates are still too high, refinancing might not be an option. Fortunately, there are ways you can lower your mortgage payment without refinancing.
Get rid of mortgage insurance
If you have a conventional mortgage, your lender will automatically cancel PMI when you reach 22% equity. You might be able to request cancelation once your equity reaches 20%.
Recast your mortgage
Some lenders will allow you to make a large lump-sum payment toward your principal balance and then re-amortize your loan. The terms remain the same when you recast your mortgage, but the lower balance means smaller monthly payments and an overall decrease in the amount you’ll pay in interest.
Request a loan modification
If you’re facing financial hardship, you can ask to change the terms of your mortgage permanently to help you avoid foreclosure. You can also request a forbearance to temporarily reduce or pause your mortgage, but you’ll eventually have to repay the late or suspended payments.
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FAQ
What is mortgage refinancing?
Refinancing your mortgage is when you replace your existing home loan with a new one, typically to get a lower interest rate.
How much does it cost to refinance a mortgage?
Depending on the lender, there are several fees associated with refinancing, usually 3% to 6% of the loan. Freddie Mac suggests putting aside $5,000 for refinancing closing costs
Can I lower my mortgage payments without refinancing?
Bottom Line
An applicant can be denied refinancing for various reasons, from a low credit score to a new job. If you know why you were turned down, you can work on the problem and reapply.
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At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Everymortgage article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge ofproducts. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
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*Results will vary. Not all payments are boost-eligible. Some users may not receive an improved score or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost™. Learn more.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
Solar batteries store solar energy for use at another time. Manufactured by companies including Panasonic, LG, Generac and Tesla, a solar battery typically costs $12,000 to $22,000. Solar batteries may be a good choice if you’re looking to use less grid electricity or go off-grid completely
.
Solar battery pros and cons
Lower energy bills.
Expensive to purchase and replace.
Environmental benefits — reduced need for fossil fuel generated power/lower carbon footprint.
Limited energy storage capacity.
Long life span options. Many can last up to 20 years or longer.
Safety concerns if improperly installed, ventilated or maintained. Some types can overheat and catch fire.
Possible federal and state tax incentives.
Regular maintenance required on some types.
Provides backup energy in the event of a blackout, regardless of weather.
Some types can be bulky and take up a lot of space.
Can avoid high peak-use-hours charges.
Requires proper disposal.
Increased energy efficiency.
Some types, such as nickel-cadmium, may contain materials that are harmful to the environment.
Less dependency on the grid.
Renters don’t qualify for federal tax incentives.
Can operate in tandem with a grid-tie system.
Some require special equipment for installation.
Quiet power, unlike generators.
Some may emit harmful gasses.
Can also be used for microgrids and portable power units.
Not all battery types are readily available for residential systems.
How do solar batteries work?
When you pair your solar energy system with a solar battery, the surplus energy your system generates goes straight to the battery, where it’s stored for later use (as opposed to that surplus automatically being returned to the grid)
State of South Carolina Energy Office. Battery Back-up. Accessed Mar 11, 2024.
.The energy stored in your battery bank can then be used later when you need it most, such as during a power blackout. Here’s how it works:
Solar panels use photons from the sun to knock electrons away from atoms and generate an electrical flow.
The excess electricity generated by the solar panels is stored as direct current (DC) energy in the solar battery.
An inverter converts the DC energy to alternating current (AC) energy for home use — either as needed, if you have a DC-coupled conversion system — or immediately for instant use if you have an AC-coupled conversion system. Excess power in this type of system can be converted back to DC to charge the battery.
A solar system with a solar battery may include these basic components:
Ground or roof-mounted solar panels.
Battery bank.
Inverter that converts DC energy into AC energy for home use.
Junction box to connect solar panel wiring to the home breaker panel.
Charge controller to prevent battery overheating.
Utility meter for the battery bank.
Disconnect switch to prevent islanding (continuing to generate electricity and push it onto the grid) during blackouts. This protects electrical workers trying to restore power.
If your solar system is connected to the grid, you’ll also have an interconnection agreement with your utility provider.
Types of solar batteries
Here are some of the main types of batteries commonly used in solar systems.
Lead acid batteries
These reliable staples are the oldest type of solar batteries, and they are often used for off-grid applications. They’re the most affordable solar battery option, but they have a low energy density, meaning they can’t hold a lot of energy for their weight. Compared to other options, they’re large and heavy.
Pros
Dependable, time-tested technology.
Easy to recycle.
Lower priced than other types of solar batteries.
Compatible with most systems.
Cons
Heavier and bulkier than other types of solar batteries.
To preserve battery life, it’s recommended that you don’t let the battery capacity drop below 50%. Other types of batteries can drop to 10% capacity — and sometimes lower — without damaging the system.
Generally need maintenance such as adding water (unless sealed).
May emit gasses.
Shorter life span than other types of solar batteries.
Take longer to recharge than other types of solar batteries.
Contain harmful chemicals and they require proper disposal.
Lithium-ion batteries
Well-suited to residential solar systems, lithium-ion batteries offer a small, light and long-lasting solar battery option with a high energy density. This newer technology lets you access more of the battery’s stored energy before needing to recharge it, which is why this type of battery is common in laptops and mobile phones. If they’re not installed properly, however, lithium-ion batteries can catch fire. They’re also pricier than some other types of batteries.
Pros
Smaller and lighter than other battery types; work well in tight spaces.
Newer technology with improved battery capacity and efficiency.
Long life span.
Little or no maintenance required.
Fewer batteries needed for power.
Lithium-ion batteries have a high depth of discharge, meaning if the battery capacity drops to 10%, it won’t strain the system or cause the system to degrade.
Cons
High price.
Can catch fire if improperly installed.
Special equipment required for installation.
Nickel-cadmium batteries
Designed mostly for commercial solar systems, nickel-cadmium batteries are rare in smaller residential applications. Because some manufacturers are testing ni-cads for home systems, we may see more of them in the future. Nickel-cadmium batteries use older technology, are low maintenance and long-lasting, have a high discharge capacity and can work efficiently even in extreme temperatures. However, they’re also heavy and bulky, lose charge when they’re not used, are costly and contain toxins that are harmful to the planet when not properly disposed of. Some countries have banned their use.
Pros
Long life span of up to 20 years or more.
Nickel-cadmium batteries have a high depth of discharge, meaning if the battery capacity drops to 20%, it won’t strain the system or cause the system to degrade.
Perform well under extreme weather conditions.
Time-tested technology.
Low maintenance.
Cons
Power retention is lower than other battery types.
Not environmentally friendly.
Not typically available for residential solar systems.
Heavy and bulky.
Flow batteries
Engineered for large-scale use with very limited availability to homeowners, this new technology uses water-based electrolytes that flow between two internal tanks. Charging and discharging takes place through chemical reactions within the battery, and increasing the number of tanks can increase total energy storage capacity. Flow batteries are very efficient and have a 100% discharge capacity. They’re also long-lasting and use nontoxic, nonflammable materials. Unfortunately, they’re also heavy, large and expensive. They require a lot of maintenance and have a low power density.
Pros
Customizable.
Long life span of 20 years or more.
Nonflammable and nontoxic materials.
High efficiency with 100% discharge capacity.
Cons
Heavy/bulky.
Considered too expensive for residential use.
Low power density.
High maintenance.
Final considerations and how to choose a solar battery
Here are a few important factors to consider and compare:
Budget. Weigh affordability and durability, and be aware that less expensive lead-acid batteries won’t last as long as lithium-ion batteries, which are more expensive upfront.
Space. Choose batteries that fit in your available space.
Warranty: Look for a solid warranty from a reputable manufacturer.
Battery capacity. For maximum efficiency, be sure this is appropriate for your solar system’s energy production. There are two measurements to consider: Storage capacity is how much energy the battery can hold; usable capacity is the energy the battery can provide minus the energy needed to operate the battery.
Battery life span. Longer life spans save on battery replacement costs over time and lessen the impact on the environment.
Round-trip efficiency. This is the measure of how well your battery stores and retrieves energy and how efficient its operation is after it’s charged. The industry standard for this is about 80%
.
Depth of discharge: This is how much power a battery uses before you need to recharge it.
Maintenance. Lower-priced battery options such as lead-acid typically require more maintenance, and you’ll need to decide how much maintenance you’re willing and able to perform.
Your system’s voltage requirements. Make sure your battery is compatible with the voltage requirements of your solar panels.
Frequently asked questions
Are there any tax incentives to offset the cost of a solar battery?
Yes. Depending on when you purchased and installed your solar battery, you may be eligible for a federal tax incentive of between 22% and 30% of the battery’s cost. To qualify, the battery must have a storage capacity of at least 3 kilowatt hours. New construction and existing homes both qualify, as do both primary and secondary residences. The home can be a house, co-op, condo, houseboat, mobile home or manufactured home. Rentals do not qualify for this tax incentive. State incentives may be available in your areas as well. Check this database to see if you qualify for one.
Can I have solar panels without buying a solar battery?
Yes. Without a battery, any excess energy you produce will just go back to the grid rather than be stored in a battery for your future use. This is called a grid-tie system.
What type of solar battery is the most popular for residential use?
Even though they’re pricey, lithium-ion batteries are the most popular type of solar battery for residential use because they’re long-lasting and often don’t need maintenance.
In remarks made Thursday to the Senate Banking Committee this week, Federal Reserve Chair Jerome Powell said he expects some U.S. banks to fail in the coming months because of declining values and defaults in their commercial real estate loan portfolios.
According to reporting by multiple outlets, including The Hill, Powell indicated that the risk is tied to small and midsized banks, and there is no systemic risk to the banking sector posed by the potential collapse of major institutions.
“We have identified the banks that have high commercial real estate concentrations, particularly office and retail and other [property types] that have been affected a lot,” Powell said. “This is a problem that we’ll be working on for years more, I’m sure. There will be bank failures, but not the big banks.”
Powell’s remarks came about a month after U.S. Treasury Secretary Janet Yellen expressed similar concerns to the Senate Banking Committee. Yellen told lawmakers that bank regulators are working to address risks tied to rising vacancy rates and lower valuations for office buildings in major cities.
These stressors are tied to the post-pandemic increase in remote work, as well as higher interest rates that have made it difficult to refinance commercial real estate debt.
“I hope and believe that this will not end up being a systemic risk to the banking system,” Yellen said in February. “The exposure of the largest banks is quite low, but there may be smaller banks that are stressed by these developments.”
Although commercial mortgage debt is propelling these concerns, the possibility of failure for a federally insured bank has implications for the residential mortgage sector. According to the Federal Deposit Insurance Corp. (FDIC), banks held $2.78 trillion in residential mortgage debt as of first-quarter 2023.
Community banks — commonly defined as those with less than $10 billion in assets — accounted for nearly $477 billion (or 17%) of the total debt. And the FDIC reported that home loans are the largest lending segment by dollar volume at more than 40% of community banks.
New York Community Bancorp (NYCB) is one institution that is facing a “confidence crisis” related to commercial real estate, primarily multifamily loans. NYCB, one of the largest U.S. residential mortgage servicers, received an equity investment of $1 billion earlier this month that is designed to strength the bank’s balance sheet.
In the wake of last year’s failures of First Republic Bank, Silicon Valley Bank and Signature Bank, smaller U.S. banks moved away from commercial real estate lending. Data from MSCI Real Assets showed that after originating a record-high 34.2% of all commercial mortgages in Q1 2023, regional and local banks trimmed their share of originations to 25.1% in Q2 2023. The latter figure represented a 53% year-over-year decline.
Still, small banks are more exposed to commercial mortgage debt than larger banks. Federal Reserve data from September 2023 showed that commercial real estate accounted for an average of 44% of the portfolios at small banks, compared to 13% at the country’s 25 largest banks.
Funding a potential bailout could be another concern for banks. When the FDIC rescued Silicon Valley Bank and Signature Bank in March 2023, the price tag was $22 billion. The regulator recouped $16 billion of that through a special assessment on more than 100 of its institutions.
Looking for jobs where you can bring your child with you? Yes, some jobs and companies let you bring your child to work. More and more companies are supporting parents by providing on-site childcare facilities. Plus, along with the rise of remote jobs, there are many jobs out there that let you bring your child…
Looking for jobs where you can bring your child with you? Yes, some jobs and companies let you bring your child to work.
More and more companies are supporting parents by providing on-site childcare facilities. Plus, along with the rise of remote jobs, there are many jobs out there that let you bring your child to work, eliminating the costs of paying for childcare.
In this post, we’ll explore different jobs that let you take your child to work, along with a list of remote jobs that give you the flexibility to work at home and take care of your children at the same time.
Whether you want to make extra income or if you are looking for a full-time career, many options may interest you.
Recommended reading: 25 Best Work From Home Jobs To Make $1,000+ Monthly
Best Ways To Bring Your Child To Work
Here’s a list of jobs where you can bring your child to work.
1. Nanny or babysitter
Working as a nanny or babysitter gives you the option of possibly bringing your child to work.
Before bringing your child to work, it’s important to come up with an agreement with the family you work for. Have clear communication and set expectations of what it will be like if you bring your child to work with you.
There are many ways to find nannying and babysitting jobs online, especially with websites like Care.com. I’ve found several nannying and babysitting positions with my free profile on Care.com.
You can also share your services on local Facebook groups, Indeed, and SitterCity. References from past childcare jobs are important, along with offering a background check.
2. Daycare (where you work for someone else)
You may also be able to bring your child to the daycare or preschool that you work for.
You need to consult with your employer about this first and check the daycare’s policies and employee handbook. Many daycares have it in writing whether or not you can bring your children to work with you. Some daycares allow it, while others are strictly against it.
To find a daycare job, search on websites like Indeed or call local daycares near you and see if they are hiring. Childcare work is in high demand and there are always jobs available in this field.
Your child may be in your classroom if they are in your age group, or they may be in another group of children. Typically, the cost is not free, but you may get a discounted rate to bring your kid to the same daycare that you work at if you are a childcare worker.
3. Own in-home daycare (where you run your own daycare)
If you can run your own daycare, this is going to allow more flexibility in bringing your child to work. Many daycare centers are run by parents looking for a more suitable job where they can bring their own kids with them to work.
However, there are still some things to keep in mind. You need to make sure that you are complying with local licensing regulations and requirements for running a daycare, along with maintaining professionalism at work while having your own child at the daycare.
Starting your own daycare from home requires careful planning. You need to think about things like local zoning laws to make sure you can run a daycare in your home and make sure your home is safe for children. You may need certifications and training like CPR and first aid certifications, along with early childhood education courses. Getting the proper insurance to protect your business in case of accidents on your property is important too.
You also need to think about how you’ll attract clients and what kind of marketing you’ll do. Word of mouth is huge, so make sure to always provide the best business and care (plus, these are children we are talking about – so high-quality care is always important!).
4. Drive a school bus
If your child’s school is hiring school bus drivers, this can be a great gig to not only take your child to and from school but also earn extra cash.
Bus drivers need to be 21 or older, have a valid driver’s license, and clean driving record. You may even need to obtain a CDL (Commercial Driver’s License).
The school will also require a background check, and provide school bus driver training, which is provided by the school district or a third-party organization.
The salary for a school bus driver depends on things like location, experience, and the district. The average salary for school bus drivers ranges from $30,000-$40,000, along with getting benefits like health insurance, retirement plans, and PTO.
5. Food delivery services
Working as a delivery driver may give you the option to bring your child to work with you.
Some food delivery platforms prohibit from having anyone else in the care of you on food delivery runs, so this is important to find out before bringing your child with you to work.
Getting a job as a food delivery driver is relatively easy as long as you meet the minimum age requirements and have a valid driver’s license. Each platform is going to have different benefits including pay, flexible work schedule, payout time, and sign-up process.
6. Photographer
One way to do photography and be able to bring your child with you is to take stock photos.
Stock image websites are among the most popular platforms for photographers to sell their pictures. These websites allow customers to buy royalty-free photos for personal or business use. Various entities, including websites, TV shows, books, and social media accounts, frequently use stock photos.
A significant advantage of stock photo sites is the potential for passive income. You can take pictures, upload them, and potentially earn money from an old photo for months or even years to come.
Recommended reading: 18 Ways You Can Get Paid To Take Pictures
7. House cleaner
Working as a house cleaner possibly allows you to bring your child to work depending on the policies of your employer, the nature of the job, and safety considerations. Some employers allow it, while others have strict rules against bringing a child to work.
As a house cleaner, you may be working with cleaning chemicals and heavy equipment, so you need to consider whether it’s suitable to have a child present in this kind of situation. It’s important to have a backup plan in place for times when you cannot bring your child to work.
8. Blogger
I started my blog back in college over 10 years ago and it’s still my full-time job. I’m my own boss, create my own schedule, and get to take vacations whenever I want.
As a blogger, you get to work from home and create your own schedule. This allows you to “bring your child to work” but also maintain a relatively flexible lifestyle when raising a child. This can be great for balancing work and family life.
Building a successful blog takes time and consistency, but when done right, can make income.
Bloggers make money through advertising, sponsorships, affiliate marketing, and product sales. You can even make money by offering coaching services on your blog or writing for other popular websites in your niche.
You can learn how to start a blog with the free How To Start a Blog Course (sign up by clicking here).
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9. Proofreader
Another great remote job that lets you stay at home with your child while earning money is proofreading.
A proofreader is someone who is in charge of reviewing written content to identify and correct errors in spelling, grammar, punctuation, and formatting.
Proofreaders work for all kinds of companies, including advertising agencies, media outlets, government agencies, and even bloggers and other small business owners.
Proofreaders can earn between $15-$50 an hour depending on their experience, type of project, and industry demand.
Recommended reading: 20 Best Online Proofreading Jobs For Beginners (Earn $40,000+ A Year)
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10. Freelance writer
I’ve been a freelance writer for almost a decade and it’s one of my favorite ways to make money. This is because freelance writing can be done on my own schedule. An agency (or whoever is paying me to write the article) will send me what they want the article to be about, how many words to write, and other important information that needs to be included.
Since this job is remote, this means you can work from home and “take your child to work” with you.
So, this can be a great job to look into for a stay-at-home mom or dad of young children.
How much you earn as a freelance writer depends on your skills and experience. If you’re just starting, you may earn between $50-$75 per 500-word article. As you gain experience and get better, you can charge a lot more. The larger and more impressive your portfolio becomes, the easier it gets to land jobs and get paid higher rates.
Recommended reading: 14 Places To Find Freelance Writing Jobs
11. Transcriptionist
A transcriptionist is someone who converts spoken audio files into written text (this is what transcription is). Your tasks include listening to audio recordings and accurately transcribing them into a written format. Transcriptionists work in fields like legal, medical, academic, and business-related industries.
Starting pay for a transcriptionist is in the $15 an hour range, with that number increasing once you’ve honed in your skills and experience, and have a wider database of clients who have worked with you in the past and want to hire you again.
Many transcriptionists are stay-at-home parents, and that is because you can get started relatively easily (it is easy to meet the qualifications to become a transcriptionist) and you can work on your own time and create a flexible schedule that works for you and your children’s schedules.
Recommended reading: How To Become A Transcriptionist From Home
12. Virtual assistant
I’ve been working as a virtual assistant for years and it’s one of my favorite jobs. I get to work from home and set my own schedule. Virtual assistants usually work for a person, company, or small business owner doing administrative tasks to help the business run smoothly.
As a virtual assistant, you’re working from home which means your child can stay at home with you while you’re working.
Tasks for virtual assistants include tasks like responding to emails, social media management, customer support, and more.
Recommended reading: Best Ways To Find Virtual Assistant Jobs
13. Customer service representative (at home)
Customer service representative jobs are often remote, therefore you may be able to leave your child at home with you while you’re working.
Customer service representative tasks include assisting and supporting customers with problem resolutions, inquiries on products, order processing, and even offering technical support in some cases.
Finding a job as a customer service representative is easy. Check out job boards like Indeed and type in “Customer Service Representative” and hundreds of jobs will come up. Make sure to look for jobs that are 100% remote, as some of these jobs may be in person.
Typically, to get started, you will just need a computer, phone, and internet access.
14. Mystery shopper
As a mystery shopper, you are grading restaurants, stores, and other businesses on how well they are doing.
My sister was a mystery shopper and often brought me with her on mystery shopping outings. She made around $150 to $200 a month in extra money doing this and she also earned free items as well, like food at restaurants, makeup, and more.
Bestmark is a popular mystery shopping company that connects mystery shoppers with jobs. Mystery shoppers get reimbursed for their time via check or cash and typically get paid out 2-4 weeks after the job is completed.
Recommended reading: How To Become A Mystery Shopper
15. Newspaper deliverer
As a newspaper deliverer, you may be able to bring your child to work with you when you’re delivering newspapers. Delivery times typically range from 4 AM-6 AM, and in some cases, there are late evening deliveries and weekend deliveries.
Before bringing your child to work, make sure the newspaper company permits you to bring your child with you as some companies may not be okay with this.
16. Gym worker (many jobs have on-site daycares)
Gyms all across the country are now offering free on-site daycares for customers. This is to entice people to come to their gym and also allows parents to workout without having to pay and arrange childcare to get to the gym.
Depending on the location, gyms that offer childcare include EOS Fitness, Life Time, LA Fitness, YMCA, and even local and county gyms.
I have a friend who works part-time hours at a local county gym. She works in the daycare room and gets to bring her toddler and baby with her. This can be a good option to look into if you don’t have school-aged kids, and need to bring your young children to work with you.
17. Find a company that has onsite daycare for their employees
There are many companies out there that provide on-site daycare for their employees.
My husband’s company provides 100% employer-sponsored on-site childcare at work, so anyone who works at the company can bring their children to work and save money on childcare costs. This is a growing benefit that more and more companies are offering to employees.
When searching for new jobs, read the benefits offered at the company and see if on-site childcare is listed.
Frequently Asked Questions
Below are answers to common questions about bringing your child to work jobs.
What are the best jobs where you can bring your child to work?
The best jobs that let you bring your child to work include jobs like nannying and daycares, and remote jobs like blogging, proofreading, or working as a customer service representative. All of these jobs typically let you bring your child to work or you get the benefit of working at home, saving money on childcare costs.
Can you bring your baby to work with you?
Whether or not you can bring your baby to work with you depends on many factors, including:
Company’s policies
Nature of your job
Local regulations
Many jobs have family-friendly policies in place that allow you to bring your kids to work for a certain period, especially during the infant stage. Some employers even have designated areas to support parents who bring their children to work, including on-site childcare facilities, flexible work hours, or remote work options.
Is it acceptable to bring your child to work? Can I take my child with me to work?
Whether or not it’s acceptable to bring your child to work depends on each company and the type of job. Some jobs fully support parents to bring their children to work and even have a 100% company-sponsored childcare facility. Other companies may not allow bringing children to work if such childcare facilities do not exist at the company. It may also be dangerous to bring kids to certain jobs if you work in a field like construction.
Can you work a remote job with a baby?
One of the best ways to work and save money on childcare costs is working remotely. This method of work is becoming increasingly common thanks to technology and shifting attitudes toward flexible work arrangements.
If you do land a remote job, here are some tips for successfully working with a baby:
Establish a schedule that accommodates your work responsibilities and baby’s needs.
Set up a dedicated workspace that is quiet and comfortable where you can focus on work.
Aim to get a job that has flexible work hours, so you can take care of your child when they need it, and perhaps work during naps.
That being said, it doesn’t mean that online or remote jobs are easy, or that working from home and watching a kid at the same time will be easy. It can be hard to manage both at the same time.
Do companies still have bring your kid to work day?
Some companies do still have bring your kid to work day. Keep in mind, this is usually only one day out of the whole year.
If you work at a daycare can you bring your child for free?
If you work at a daycare, you can usually get a discounted rate if you bring your child.
How to find jobs that would welcome children and don’t require a nanny or sitter?
Some workplaces are much more welcoming than others. Finding jobs that already cater to kids (such as daycares) or working from home are two options to start with.
Bring Your Child To Work Jobs – Summary
Being able to bring your children to work is becoming more accepting and even supportive, with companies providing on-site childcare facilities.
There are many child-focused businesses, such as private preschools or daycares, where you may be able to bring your child to work with you.
Along with the rise of remote jobs, you may be able to work at home and take care of your children at the same time. If you work from home, such as by being a proofreader or virtual assistant, you may be able to work a flexible schedule and work in your spare time, such as when your child is napping or sleeping. Working around your children’s schedules is one way to work from home for stay-at-home parents.
Running her own business and deciding on her own hours is how my sister works from home with a child. She is a full-time blogger (she owns the very site that you are reading – Making Sense of Cents).
What do you think are the best kid-friendly jobs for moms and dads?
In the heart of California, Sacramento is a city that effortlessly blends rich history with modern charm. From the bustling streets of Midtown to the serene beauty of the American River Parkway, Sacramento offers a diverse and vibrant lifestyle for its residents. With historic roots in the gold rush, too many parks to choose from, and a close proximity to wine country, Sacramento is a city that truly has something for everyone.
Whether you’re searching for apartments in Sacramento, homes for sale, or just learning more about what Sacramento is known for, this article is the comprehensive guide you’ve been looking for.
1. The California State Capitol
Sacramento is known for being the capital of California and is home to the impressive California State Capitol. The Capitol is a stunning example of neoclassical architecture and is surrounded by beautiful gardens, making it a must-see for visitors and a point of pride for locals.
2. Gold
The Gold Rush of the mid-19th century was a pivotal event for Sacramento, rapidly transforming it from a modest settlement into a thriving commercial and supply hub for gold miners. This influx of population and wealth laid the groundwork for Sacramento’s development, establishing its significance within California’s political and economic landscapes.
3. Old Sacramento Historic District
Old Sacramento Historic District is a charming area that showcases the city’s history. Visitors can explore the cobblestone streets, historic brick buildings, and museums that offer a glimpse into Sacramento’s past as a bustling Gold Rush town. This is a great opportunity to explore the areas past and see the lasting effects it has on the city today.
4. Tower Bridge
The iconic Tower Bridge is a symbol of Sacramento and is known for its distinctive Art Deco design. Spanning the Sacramento River, the bridge offers stunning views of the city and is a popular spot for locals and tourists to kick back and soak up the beauty surrounding them.
5. Crocker Art Museum
Sacramento is home to the impressive Crocker Art Museum, which houses a massive collection of art spanning from classical to contemporary. The museum’s many exhibits and educational programs make it a hub in the city for everyone from young families to aspiring artists to retirees and everyone in between.
6. American River Parkway
The American River Parkway provides a natural escape within the city, offering opportunities for hiking, biking, and more. The scenic beauty of the parkway is a beloved feature of Sacramento’s landscape and one of the many unique perks about calling Sacramento home.
7. Craft beer scene
Sacramento’s craft beer scene is growing, reflecting the city’s passion for locally brewed, innovative beers. With a focus on quality and creativity, the area boasts a ton of breweries that contribute to Sacramento’s reputation as a destination for beer lovers of all persuasions. Two of the most beloved local breweries are Track 7 Brewing Co., known for its diverse range of styles and community-focused approach, and Bike Dog Brewing Company, which combines a love for cycling with the art of beer making.
8. Sutter’s Fort
Sutter’s Fort is a historic landmark that played a significant role in the early development of Sacramento. The fort offers guided tours and living history demonstrations, allowing visitors to step back in time and experience California’s pioneer era in its purest form.
9. City of Trees
Sacramento is the City of Trees thanks to its wide variety of foliage, from native oaks to exotic species planted over the decades, provides not only aesthetic beauty but also significant environmental benefits, like improved air quality, reduced urban heat island effect, and enhanced outdoor spaces. The city’s tree-lined streets, parks, and green spaces contribute to its identity and quality of life, making it a welcome green getaway in the heart of California.
10. Sacramento Kings
As the local NBA team, you’re likely to see some Kings gear around town as you get to know the city. Since relocating to Sacramento in 1985, the Sacramento Kings have become a central part of the city’s identity, fostering a strong sense of community and pride among residents. Their presence has significantly impacted the local economy by way of new jobs and downtown revitalization, particularly with the construction of the Golden 1 Center.
“As one of the foremost experts and real estate lawyers in the industry, Evan is uniquely positioned to identify and capitalize on strategic initiatives that further optimize our investment platform,” Dobson said in the company’s press release. “Adding a leader of Evan’s caliber demonstrates the strength of Amherst’s platform and growth potential, and I am … [Read more…]