As the sun shines brighter and the temperatures rise, it’s time to bring the vibrant spirit of summer indoors. From breezy beach vibes to lush tropical hues, infusing your home with summer-inspired decor can instantly lift your spirits and create a refreshing oasis. Incorporating these aesthetic decor ideas into your home can transform it into a cool and inviting retreat that celebrates the essence of the season. So, unleash your creativity and let your home reflect the sunny optimism of the season ahead. Here are five simple yet impactful ideas to transform your living space into a cool and inviting retreat this summer.
Bright and Breezy Fabrics
Swap out heavy curtains and drapes for lightweight, airy fabrics like linen or sheer curtains. Opt for cheerful colours such as aqua blue, sunny yellow, or crisp white to evoke a sense of freshness and openness. Not only do these fabrics allow natural light to filter through, but they also create a relaxed atmosphere reminiscent of lazy summer days.
Tropical Greenery
Bring the lushness of tropical foliage indoors by incorporating potted plants or leafy green accents into your décour. Choose low-maintenance varieties like palms, ferns, or snake plants to add a touch of greenery to any room. You can also display vibrant floral arrangements or hang botanical prints on the walls to infuse your space with the vibrant colours of summer.
Nautical Touches
Embrace coastal charm by integrating nautical elements into your home décour. Decorative accents such as striped throw pillows, rope-wrapped accessories, or weathered wooden accents can instantly evoke a seaside vibe. Incorporate ocean-inspired hues like navy blue, seafoam green, and sandy beige to create a serene coastal ambiance that’s perfect for summer.
Outdoor-Inspired Textures
Introduce natural textures and materials into your interior design to mimic the feel of the great outdoors. Wicker baskets, rattan furniture, and jute rugs add a touch of rustic warmth to any space while creating visual interest. These earthy elements not only complement summer-inspired décour but also bring a sense of casual elegance to your home.
Refreshing Citrus Accents
Add a pop of citrus-inspired colours like lemon yellow, lime green, or tangerine orange to brighten up your home for summer. Incorporate these vibrant hues through decorative accessories such as throw blankets, accent pillows, or ceramic vases. Citrus-scented candles or diffusers can also fill your home with the uplifting aroma of summer fruits, creating a sensory experience that delights the senses.
ALSO READ: Want to keep your skin sweat-free and fresh during summer? Try these DIY face packs
Between the sparkling waters of Lake Mendota and Lake Monona, Madison is one of the few major cities in the world built on an isthmus. This provides visitors and those lucky enough to find a house in Madison with beautiful views and ample opportunity to get out on the water, weather permitting, of course.
From the iconic State Capitol building to the beautiful University of Wisconsin campus, there’s a place for everyone in Madison. Let’s take a few minutes to explore ten of the top things this sweet city is known for and learn why so many people are clamoring to lock down an apartment in Madison.
1. University of Wisconsin
The University of Wisconsin in Madison is an elite academic institution with a strong student life. Thanks to tons of top-tier programs, including notable research in science and the humanities, it attracts students and scholars from around the globe. The university’s impact on the city extends beyond education, influencing local businesses, making it a cornerstone of Madison’s identity.
2. State Capitol
Madison’s State Capitol, with its stunning white granite facade, is a testament to the city’s architectural and historical grandeur. Positioned in the heart of the city, this is where policies are decided for Wisconsinites and also a gathering place for state events and protests.
3. Great Taste of the Midwest
Beer enthusiasts rejoice each summer at the Great Taste of the Midwest, one of the premier craft beer festivals in the United States. Held in Madison, this festival features over 190 breweries and nearly 1,000 different beers. It’s a celebration of Midwestern brews and an event that brings people together for a day of tasting, music, and food.
4. One of the few major cities to be built on an isthmus
Madison’s unique geographical setting as a city on an isthmus offers stunning panoramic views and easy access to water-based activities. This rare feature provides residents with unique views and city planning challenges that have been creatively met with neighborhoods and community spaces that maximize its lakeside locale.
5. Lake Mendota and Lake Monona
Lake Mendota and Lake Monona are central to life in Madison. These beautiful lakes frame the city’s isthmus and provide year-round activities, from boating and fishing in the summer to ice skating and ice fishing in the winter. The lakes are a natural playground for outdoorsy types of all styles.
6. Olbrich Botanical Garden
Olbrich Botanical Garden is a 16-acre manicured garden that showcases the horticultural artistry of Madison. With its thematic gardens, including the tropical Bolz Conservatory, Olbrich Botanical Garden provides a tranquil escape from the city.
7. Madison Farmers’ Market
The Madison Farmers’ Market is held on Capitol Square and is a great spot to find fresh, locally sourced produce and goods. It is one of the largest and most well-attended farmers’ markets in the country, where local farmers and artisans showcase their produce and crafts, fostering a strong sense of community and support for local agriculture.
8. Madison Museum of Contemporary Art
The Madison Museum of Contemporary Art (MMoCA) is a key institution in the city. Located in a striking building designed by world-renowned architect Cesar Pelli, MMoCA offers an array of contemporary art exhibits, films, and educational programs. It acts as a gateway for residents and into the fascinating world of the arts.
9. Frank Lloyd Wright’s Monona Terrace
Originally designed by Frank Lloyd Wright and completed in 1997, Monona Terrace is a stunning community and convention center on the shores of Lake Monona. This architectural marvel has breathtaking views and is a great venue for large-scale events.
10. Music Scene
Madison’s music scene is wide-ranging and thriving. With venues like the Orpheum Theater and the Majestic Theatre, you can always find a stage in Madison. The city’s commitment to musical diversity is also evident in its many music festivals throughout the year, which celebrate everything from jazz to rock, making Madison a haven for music lovers.
Often overshadowed by its twin city, Minneapolis, St. Paul has a charm and history all its own. With its deep roots in the trade and transportation industries, thanks to the Mississippi River, St. Paul has grown into a city with a lot to brag about.
This city isn’t just the state capital; it’s a hotspot for artists, politicians, and entrepreneurs alike. With so much going on, it’s no mystery why people all over are trying to find a home in St. Paul.
Let’s explore ten of the top things St. Paul is known for and see a whole new side of the better half of the Twin Cities.
1. Minnesota State Capitol
The Minnesota State Capitol in St. Paul, designed by architect Cass Gilbert, is a functioning seat of government and a masterpiece of Beaux Arts architecture. Completed in 1905, it features the second-largest self-supported marble dome in the world, and its interior is adorned with murals and sculptures that narrate the state’s history. Tours of this landmark provide a deep dive into Minnesota’s legislative process and offer panoramic views of the city from the dome’s observation deck.
2. Minnesota History Center
The Minnesota History Center is an interactive museum and library that serves as a gateway to the past. Exhibits range from the natural disasters that have shaped the land to the cultural achievements of its people. The center also puts on concerts, lectures, and family days, making it a focal point for learning outside of the classroom.
3. Xcel Energy Center
Home to the NHL’s Minnesota Wild, the Xcel Energy Center is more than just an arena. Since its opening in 2000, it has become a landmark for major concerts and other live performances. This state-of-the-art facility is known for its fan-friendly atmosphere and was once ranked as the best overall sports venue in the U.S. by ESPN.
4. Como Park Zoo and Conservatory
The Como Park Zoo and Conservatory is a great family-friendly attraction. Zoo admission is free and the conservatory showcases seasonal flower shows and more. Its dedication to conservation and education makes it a respected institution in St. Paul.
5. Cathedral of Saint Paul
Overlooking downtown St. Paul, the Cathedral of Saint Paul is an iconic feature of the city’s skyline. This stunning Roman Catholic cathedral, one of the largest in the U.S., is a magnificent example of the Classical Renaissance style. It hosts thousands of visitors and worshippers who come to admire its detailed architecture and beautiful sacred art.
6. Fitzgerald Theater
As the oldest active theater in St. Paul and the longtime home of Garrison Keillor’s “A Prairie Home Companion,” the Fitzgerald Theater holds a special place in the story of St. Paul. Today, it hosts a variety of live performances, including music, comedy, and theater.
7. Science Museum of Minnesota
Renowned for its dinosaur exhibits and Omnitheater, the Science Museum of Minnesota is a top-notch museum. Its hands-on exhibits cover topics from paleontology to technology and native Minnesotan habitats.
8. Summit Avenue
Strolling down Summit Avenue, visitors can admire the longest stretch of Victorian homes in the U.S. This grand avenue is lined with historic mansions built by the elite of the late 19th and early 20th centuries, including the James J. Hill House. The street’s architectural beauty and historical significance make it a popular destination for guided walking tours.
9. Grand Avenue
Grand Avenue is a lively street with independent shops, small cafes, and killer restaurants. It’s a favorite for locals looking for a relaxed atmosphere away from the busier downtown area.
10. Harriet Island Regional Park
Located along the Mississippi River, Harriet Island Regional Park is a haven in the heart of St. Paul. It has walking paths, picnic areas, and a pavilion that hosts public events and festivals throughout the year. The park is a favorite spot for residents and visitors thanks to its spectacular view of the downtown skyline.
If you’re curious about what makes Plano stand out, you’ve come to the right place. Just a short drive from Dallas, this growing city has beautiful parks, friendly folks, and great downtown.
From the majesty of the Plano Balloon Festival to the natural beauty of its well-planned parks, there’s a home in Plano for all.
Listed below are ten of the top things Plano is known for. Get to know this Texas gem a bit better and see why so many people are hoping to find an apartment in Plano.
1. Interurban Railway Museum
Located in the heart of Plano, the Interurban Railway Museum serves as an anchor to the city’s railroading past. Visitors can dive into the history of the Texas Electric Railway, and view historic artifacts, photos, and documents. The museum is educational and interactive, offering guided tours that include a vintage railcar visit.
2. Historic Downtown Plano
Historic Downtown Plano is a hub for community events, boutique shopping, and great local restaurants. The red brick streets and restored buildings give the area a timeless feel, making it a favorite spot for both photographers and aspiring influencers.
3. Granite Park Boardwalk
Granite Park Boardwalk is known for its killer views. The boardwalk is lined with restaurants and cafes, providing a perfect setting for an evening stroll or a dinner overlooking the water. You can often find live music and more around this lively spot.
4. Arbor Hills Nature Preserve
Arbor Hills Nature Preserve is a 200-acre park. The preserve has miles of hiking and biking trails, a playground, and an observation tower that provides panoramic views of the surrounding area. It’s a preferred spot for families, fitness buffs, and anyone looking to enjoy a day in the Texas sun.
5. Oak Point Park and Nature Preserve
Covering over 800 acres, Oak Point Park and Nature Preserve is the largest park in Plano. It has amenities like kayaking, paddle boarding, and miles of trails for hiking and cycling. The park’s large pond and open spaces are ideal for picnics and relaxing days outside.
6. Heritage Farmstead Museum
The Heritage Farmstead Museum gives visitors the opportunity to step back in time and experience life on the Blackland Prairie. This four-acre site includes a historic farmhouse, outbuildings, and farm animals. Educational programs and interactive tours engage visitors of all ages, making it an enlightening experience for those interested in agricultural history.
7. Legacy West
Legacy West is a newer development in Plano known for its upscale shopping and dining. This area serves as an economic center for the city, attracting major corporations and luxury retailers alike.
8. The Shops at Legacy
The Shops at Legacy is a shopping mall that complements the corporate environment of Legacy Business Park. This sweet spot has high-end boutiques, great restaurants, and more, all set in a beautifully designed, walkable urban space.
9. Plano Balloon Festival
The Plano Balloon Festival is an annual event that fills the sky with colorful hot air balloons, attracting thousands of spectators each year. Held at Oak Point Park, the festival also has live music, food stalls, and activities for children.
10. The Crayola Experience
The Crayola Experience is a family-friendly place that brings the magic of color and creativity to life. Located at The Shops at Willow Bend, this interactive attraction includes hands-on activities and exhibits, making it a dream spot for kids.
Iowa provides residents a quintessential American experience characterized by its rich agricultural heritage, tight-knit communities, and scenic landscapes. From the vibrant urban energy of Des Moines, with its thriving arts scene and culinary delights, to the charming small-town charm of Iowa City, home to the University of Iowa and a bustling cultural scene, Ohio offers experiences for every lifestyle. However, there are cons to living in In this state. In this ApartmentGuide article, we’ll go over the pros and cons of living in Iowa, so you can learn what life is like in “The Hawkeye State.”
Renting in Iowa snapshot
1. Pro: Affordable housing
Iowa has an affordable cost of living, with lower housing costs, utilities, and overall expenses compared to many other states. Cities like Des Moines and Cedar Rapids offer residents access to affordable housing options, with median home prices and rental rates below the national average. For example, the median home price in Cedar Rapids is $182,500, making homeownership more attainable for many Iowa residents. Rental prices remain equally affordable, with the average one-bedroom apartment renting for $776.
2. Con: Harsh winter weather
Iowa experiences harsh winter weather conditions, with cold temperatures, heavy snowfall, and icy roads posing challenges for residents. Sioux City often contend with extreme cold snaps and blizzard conditions, leading to school closures, transportation disruptions, and safety concerns. Despite efforts to maintain roadways, winter storms can make travel hazardous, meaning you’ll need extra precautions navigating the icy terrain.
3. Pro: Thriving agricultural sector
Iowa’s thriving agricultural sector plays a vital role in the state’s economy, providing abundant job opportunities and contributing to the nation’s food supply. The state’s fertile soil and favorable climate make it ideal for farming, with crops like corn, soybeans, and oats grown extensively across its vast farmland. Additionally, Iowa is a leading producer of corn and hogs, with agricultural activities deeply ingrained in its cultural identity.
4. Con: Rural isolation
Residents in rural areas of Iowa may experience feelings of isolation and limited access to services and amenities. Towns like Decorah and Carroll may lack the same level of infrastructure and resources found in larger cities, leading to challenges in accessing healthcare, shopping, and entertainment options.
5. Pro: Rich cultural heritage
Iowa has a rich cultural heritage, shaped by diverse immigrant communities and indigenous peoples who have left their mark on the state’s history. For example, the Amana Colonies preserve the traditions of German settlers, while the Meskwaki Settlement honors the heritage of the Sac and Fox Tribe of the Mississippi.
6. Con: Limited cultural amenities
While Iowa offers some cultural attractions and events, larger cities in other states may have more extensive entertainment options. Cities like Waterloo may have fewer theaters, museums, and performing arts venues compared to metropolitan areas, limiting cultural experiences for residents.
7. Pro: Natural beauty
Iowa is home to diverse natural landscapes, including rolling prairies, scenic rivers, and picturesque parks, offering residents ample opportunities for outdoor recreation and exploration. Places like Maquoketa Caves State Park and Effigy Mounds National Monument showcase Iowa’s natural beauty, attracting visitors with hiking trails, camping grounds, and wildlife viewing areas.
8. Con: Tornado risk
Within Tornado Alley, Iowa is prone to severe weather events like tornadoes during the spring and summer months. While tornado warning systems and emergency preparedness efforts help mitigate risks, residents must remain vigilant and have a plan in place to seek shelter during severe weather outbreaks.
9. Pro: Low traffic congestion
Iowa’s relatively low population density results in minimal traffic congestion, making commuting and travel more efficient and stress-free for residents. Even in urban areas like Iowa City, residents enjoy shorter commute times and smoother traffic flow compared to larger metropolitan areas.
10. Con: Seasonal allergies
Iowa’s changing seasons can exacerbate allergies for some residents, particularly during the spring and fall. Pollen from trees like birch and oak can trigger allergic reactions, leading to symptoms such as sneezing, congestion, and itchy eyes.
11. Pro: Tight-knit communities
Iowa is known for its tight-knit communities, where neighbors know each other by name and support one another through shared values and traditions. Whether in small towns like Ames or larger cities like Cedar Rapids, residents experience a sense of belonging.
12. Con: High property taxes
Methodology : The population data is from the United States Census Bureau, walkable cities are from Walk Score, and rental data is from ApartmentGuide.
Spokane is a special city with a lot to brag about. Located in Eastern Washington, there are more than a few things this sweet spot is known for. From the scenic views at Mount Spokane to the sprawling grounds of Gonzaga University, there’s a place for everyone to feel at home in Spokane.
Whether you’re biking along the Spokane River or watching a performance at the Bing Crosby Theater, it’s easy to see why people from all over are clamoring to find an apartment in Spokane.
Let’s take a few minutes to explore ten of Spokane’s top attractions to understand what this often-overlooked city is really known for.
1. Mount Spokane
The majesty of Mount Spokane looms over Spokane at all times. At an elevation of 5,883 feet, it supports tons of recreational activities, including skiing, snowboarding, and hiking. The park around the mountain has over 100 miles of trails and is a favorite spot for locals looking to spend a day outside under the Spokane sun.
2. Gonzaga University
Gonzaga University is known far and wide for its rigorous academics and world-class basketball team. Situated along the Spokane River, the university’s beautiful campus draws students from all over. The university’s commitment to education and its strong student life make it a soaring pillar of the Spokane community.
3. Manito Park
Manito Park is a public garden paradise sprawling over 90 acres. It has thematic gardens like the Japanese Garden, Duncan Garden, and the Rose Hill Garden. Whether you’re enjoying a leisurely walk, looking for the perfect photo, or chatting with an old friend, Manito Park is a welcome escape from city life.
4. Spokane River Centennial Trail
The Spokane River Centennial Trail stretches for 37 miles along the Spokane River. The trail is a great route for biking and jogging in a peaceful setting. This trail links Idaho to Washington and offers people the rare opportunity to work out while surrounded by some of the prettiest scenery in the state.
5. Riverfront Park
Once the site of Expo ’74, Riverfront Park is now a central gathering place in Spokane. The park features the Numerica SkyRide over the falls, the historic Looff Carrousel, and public art throughout the space. Seasonal events, like outdoor concerts and the winter ice rink, make it a year-round destination for families in the area.
6. Bing Crosby Theater
The Bing Crosby Theater, named after Spokane’s own, Bing Crosby, is a landmark of the city. This historic theater, originally built in 1915, hosts performances of all types, from concerts to plays and film festivals. Its ornate architecture and intimate setting create the perfect atmosphere for enjoying the arts.
7. Spokane Hoopfest
Spokane Hoopfest is the largest 3-on-3 outdoor basketball tournament in the world. The tournament transforms the streets of downtown Spokane into a bustling arena every June. This event celebrates sportsmanship and community while supporting local charities.
8. The Davenport Hotel
Opened in 1914, the historic Davenport Hotel is a symbol of Spokane’s grandeur and elegance. This hotel has hosted celebrities, presidents, and dignitaries, thanks to its luxurious accommodations and upscale dining. Its beautifully restored ballrooms and lobby reflect the early 20th-century craftsmanship, making it a must-visit for those interested in history and architecture.
9. Spokane Falls
Located in the heart of the city, Spokane Falls is one of the most picturesque natural landmarks in the area. These powerful falls can be viewed from a few spots in downtown Spokane, offering a spectacular backdrop, especially during the spring runoff. The area around the falls has walking paths and gondola rides that provide an up-close experience with this natural wonder.
10. Spokane Symphony
The Spokane Symphony holds a cherished spot in the city, performing at the historic Martin Woldson Theater at The Fox. Performing a variety of classical and contemporary shows throughout the season, the symphony enriches the Spokane art scene.
Our writers and editors used an in-house natural language generation platform to assist with portions of this article, allowing them to focus on adding information that is uniquely helpful. The article was reviewed, fact-checked and edited by our editorial staff prior to publication.
Key takeaways
A no-down payment mortgage allows you to buy a home without putting any money down upfront at closing.
USDA and VA mortgages are two types of loans that don’t usually require a down payment.
Some alternatives to no-down payment mortgages include low-down payment loans, such as a conventional or FHA loan, or getting gift money from family or friends.
Buying a home doesn’t necessarily require a large down payment. The conventional wisdom is that you need 20 percent down, but in reality, you don’t have to save that much. In fact, there are no-down payment mortgage options. Here’s what you need to know about these types of loans.
What is a no-down payment mortgage?
A no-down payment mortgage is a home loan that allows you to finance 100 percent of the home’s purchase price without having to put any money down at closing. Zero-down mortgages can be particularly beneficial for those buying a home for the first time or with limited savings.
How to get a mortgage with no money down
The easiest way to avoid a down payment is to qualify for one of the two no-down payment mortgage programs backed by the government: a USDA or a VA loan.
USDA loans
The U.S. Department of Agriculture (USDA) backs USDA home loans, a mortgage guarantee program for those buying a home in designated rural areas. There are many areas you might not consider “rural” that do qualify under USDA guidelines, so be sure to check your eligibility on the USDA website. USDA loans don’t require a down payment, but borrowers must meet credit and income requirements to qualify.
Although there’s no down payment with a USDA loan, there is an upfront guarantee fee of 1 percent of the principal loan amount, as well as an annual fee of 0.35 percent, which borrowers can roll into the cost of the mortgage. While you won’t pay any money initially if you choose to roll these fees into the loan, keep in mind that it adds to the total balance and will accrue interest over the loan term, which means you’ll pay more overall.
VA loans
If you’re a military service member, veteran or surviving spouse, you could be eligible for a VA loan guaranteed by the U.S. Department of Veterans Affairs (VA) with no money down. There is no mortgage insurance requirement with this loan. However, like a USDA loan, you do have to pay an upfront funding fee, which can be rolled into the mortgage. The funding fee ranges from 1.25 percent to 3.3 percent of the loan amount. You can reduce the funding fee by making a down payment.
Another perk: VA loan lenders often offer more competitive rates for these products, which helps you save money over the life of the loan.
Compare: Current VA loan rates
Alternative zero-down mortgage options
In addition to government-backed loans, you might be able to explore:
A low-income loan – These are often geared toward first-time or low-income borrowers, or those in specific areas. For example, Bank of America’s zero-down program aims to help buyers in minority neighborhoods.
A zero-down mortgage through a local credit union – This might be an option especially if the credit union is based on membership in a professional organization. For example, Sunmark Credit Union offers a no-down-payment mortgage option. While these can be relatively rare, it’s still worth looking into.
Gift money from family or friends – If available, you can use gift funds for your down payment. You’ll need to provide your lender with a gift letter that shows you don’t need to pay back the money gifted.
Low-down payment mortgage options
If you don’t qualify for one of the no-money-down home loan options, you might still be able to buy a home with the next best thing: a low-down payment mortgage.
FHA loans
Insured by the Federal Housing Administration (FHA), an FHA loan requires only 3.5 percent down with a credit score as low as 580. (If you have a credit score between 500 and 579, you might be able to qualify with a higher down payment of 10 percent.) It’s a popular option for homebuyers with less-than-perfect credit and not a lot of savings. Like other government-insured programs, FHA loans are offered by private mortgage lenders, so you might also have to meet a lender’s criteria to qualify. Additionally, you’ll have to pay for FHA mortgage insurance, which adds to your monthly payment and the cost of the loan. You’ll pay these premiums for as long as you have the mortgage, in most cases.
Compare: Current FHA loan rates
HomeReady mortgage
Available through many mortgage lenders, the HomeReady program is a conventional loan backed by Fannie Mae. The down payment requirement on a HomeReady loan is just 3 percent. While you’ll have to pay mortgage insurance to compensate for the low down payment, it’s often at a lower price tag compared to other conventional loans.
Home Possible mortgage
Backed by Freddie Mac, Home Possible is a similar mortgage program to HomeReady, with a 3 percent down payment and mortgage insurance requirements.
HomeOne mortgage
Freddie Mac also offers a 3 percent down mortgage option for first-time homebuyers who qualify through its HomeOne program. The main difference between this loan program and Freddie’s Home Possible mortgage is that a HomeOne mortgage does not impose income limits.
1 percent down mortgage programs
Some lenders are now offering mortgage programs for borrowers who qualify that only require a 1 percent down payment. Some examples include Rocket Mortgage’s ONE+ program and United Wholesale Mortgage’s Conventional 1% Down program. For these programs, the lender pays 2 percent of the required 3 percent down payment for a HomeReady or Home Possible loan — or up to a maximum contribution that varies by lender and loan size — and you only need to provide the remaining 1 percent.
Conventional 97 mortgage
A Conventional 97 mortgage is another Fannie and Freddie program that only requires a 3 percent down payment. You might pay more for private mortgage insurance (PMI) with this type of loan, but your payment depends on your financial profile. You can also request to cancel PMI when you reach 20 percent equity in your home.
Good Neighbor Next Door
The Good Neighbor Next Door (GNND) program is for borrowers who work in select public service professions — teachers, firefighters, law enforcement and emergency medical technicians — and are planning to buy a home in a qualifying area.
The program, sponsored by the U.S. Department of Housing and Urban Development (HUD), provides a discount of up to 50 percent on a home with a down payment of just $100. The borrower must qualify for a first mortgage, and the discounted portion of the home comes in the form of another loan. If the borrower continues to meet program requirements, the second mortgage won’t have to be repaid.
Pros and cons of a no-down payment mortgage
The ability to buy a home with no or very little money down can be appealing, but there are drawbacks, too.
Pros of no-down payment mortgages
You can buy a home sooner. When you don’t have to come up with a substantial down payment, it’s easier to buy a home sooner. Alternatively, if you want to take advantage of a good deal or a dip in the market, you can move fast without having to wait for your savings to accumulate.
You can keep more cash on hand. Even if you have enough to make a sizable down payment, you might want to keep that money liquid for emergency savings, remodeling or investing. Whatever the motive, with a low- or no-down payment mortgage, that extra cash remains available to you — not tied up in real estate.
Cons of no-down payment mortgages
You’ll have no or little equity. Home equity is the portion of your home you own outright (not financed by a mortgage). When you start with a low- or zero-down loan, you’ll have little to no equity. If home values fall, you could end up owing more on the home than it’s worth, making it difficult to sell or refinance.
Your interest rate might be higher. You might pay a higher interest rate for a no- or low-money down loan. That’s because with less money tied up in the home, a mortgage lender might view you as more of a risk. Of course, the higher your interest rate, the more you’ll pay overall.
You’ll need a bigger mortgage, which translates to higher costs. The less you put down, the more you’ll need to borrow, which means you’ll pay more in interest over the life of the loan.
You’ll pay fees. Both VA and USDA loans come with fees, which add to the cost of the loan.
Your offer for a home might not look as compelling. The housing market is still competitive in most places around the country. If someone else makes an offer with a large down payment, that buyer might look like a better bet in the seller’s eyes.
Should you get a no-down payment mortgage?
Deciding whether to go for a no-down payment mortgage depends largely on your financial circumstances and goals. Here are a couple of scenarios when a zero-down mortgage might be a good idea:
If you don’t have a lot of cash: Not having to make a large initial payment leaves more in your pocket, obviously, to cover closing costs or living expenses.
If you can afford to pay higher monthly payments: With a smaller down payment comes a bigger loan, which means higher monthly payments. But you might be able to manage a few hundred more month-to-month, even if you couldn’t scrape together a five-figure down payment.
If you plan to stay in the home long-term: When you take out a no-down payment mortgage, you’ll still need to pay closing costs and fees. If you decide to sell your home after a few years for a new one, you’ll have to pay these costs again. Weigh whether it makes financial sense to buy now or save up a little longer.
FAQ on no-down-payment mortgages
The Department of Veteran Affairs and the U.S. Department of Agriculture DA don’t set a minimum credit score requirement for, respectively, their no-money-down VA and USDA loans. However, most lenders offering these loans do, and they’d want them to be at least in the “fair” range: 620 for VA loans, 640 for USDA loans. Because you’re not bringing any cash to the table, and financing virtually all of your mortgage, the lender has to be extra-reassured that you pay your debts fully and on time.
You can explore down payment assistance programs that offer either grants or second mortgages that often become forgivable after several years. You can also solicit gift funds from family or friends. If neither of these is feasible, you may have to put your homeownership dream on hold for a while, while you save up and/or strengthen your credit score.
Have you been asking yourself, “Should I move to Wichita?” If you’re looking for a city that offers a high quality of life and a welcoming atmosphere, this city may be the perfect place for you. Located in the heart of the Midwest, Wichita offers a special blend of urban amenities and small-town charm. From its dynamic arts and culture scene to its rich aviation history, there’s always something to explore in this bustling city. So, before making the move to Wichita, it’s important to know if your lifestyle is compatible with the area. In this article, we’ll discuss the pros and cons of living in Wichita to help you decide if it’s the right place for you. Let’s jump in.
Wichita at a Glance
Walk Score: 35 | Bike Score: 44 | Transit Score: 20
Median Sale Price: $232,000 | Average Rent for 1-Bedroom Apartment: $860
Wichita neighborhoods | Houses for rent in Wichita | Apartments for rent in Wichita | Homes for sale in Wichita
Pro: Affordable cost of living
This city stands out for its affordability with the cost of living in Wichita 11% lower than the national average. This allows many residents to enjoy a comfortable lifestyle without breaking the bank. This affordability extends to various aspects of life, including groceries, utilities, and entertainment options. Additionally, the median home price in Wichita is about $200,000 less than the national average, making homeownership more accessible to a broader range of people.
Con: Limited public transportation
With a Transit Score of 20, one of the drawbacks of Wichita is the limited public transportation options. The city relies heavily on buses, with a lack of extensive subway or tram systems found in larger cities. This can make commuting challenging for those without a vehicle, particularly in areas not well-served by the existing bus routes. Additionally, the frequency and coverage of bus services can be limited, especially on weekends and evenings, further complicating mobility for residents without cars.
Pro: Cultural attractions
Wichita is home to an exciting cultural scene boasting a variety of museums, galleries, and theaters. For example, the nearby Wichita Art Museum houses one of the largest collections of American art in the country. There are also numerous festivals and events throughout the year, including the Wichita River Festival, which attracts visitors from all over with its concerts, food, and fireworks. These cultural attractions provide residents with enriching experiences and opportunities to engage with the community.
Con: Weather extremes
Residents of Wichita must be prepared to face weather extremes throughout the year. The city experiences hot, humid summers with temperatures often soaring above 90 degrees Fahrenheit, while winters can be bitterly cold and snowy. Additionally, Wichita is located in an area prone to severe weather. This includes thunderstorms and tornadoes, particularly during the spring and early summer months. These weather extremes can be a significant drawback for those not accustomed to such variability.
Pro: Strong job market
Wichita possesses a strong job market, especially in the aviation, healthcare, and manufacturing sectors. The city is known as the “Air Capital of the World,” hosting numerous aerospace companies, including Spirit AeroSystems and Textron Aviation. This specialization has created a wealth of job opportunities for engineers, mechanics, and other skilled professionals. Additionally, the city’s healthcare system is a major employer, providing a range of career options for those in medical and allied health professions.
Con: Limited nightlife options
For those seeking a bustling nightlife, Wichita may fall short of expectations. While there are bars and entertainment venues, the variety and scale of nightlife options are limited compared to larger cities. However, the city has been making efforts to revitalize its downtown area. These efforts have introduced new venues and events aimed at enhancing the nightlife experience.
Wichita boasts a strong sense of community spirit, with friendly residents and a welcoming atmosphere. The city holds volunteerism and community events, which foster a sense of belonging and involvement among locals. Neighborhood associations and local groups are active in organizing events, beautification projects, and other initiatives that enhance the quality of life. This community-minded approach makes Wichita a great place to live for those who value connectivity and a supportive environment.
Con: Limited diversity in dining options
While Wichita has a growing food scene, the diversity in dining options can be limited compared to larger metropolitan areas. Residents looking for international cuisine might find the choices somewhat restricted, with a heavier focus on traditional American and barbecue fare. However, the city has seen an influx of new restaurants and food trucks in recent years. This has been slowly broadening the culinary landscape to include more varied and international dishes.
Pro: Access to outdoor activities
Wichita is surrounded by natural beauty and offers numerous parks and recreational areas.The city’s location along the Arkansas River includes scenic paths and parks perfect for walking, biking, and picnicking. Sedgwick County Park and the Great Plains Nature Center offer additional spaces for hiking, bird watching, and connecting with nature. These green spaces are a significant advantage for those who enjoy spending time outdoors.
Con: Perception as a “flyover” city
Wichita sometimes struggles with the perception of being a “flyover” city, overlooked by those traveling between the coasts. This perception can impact the city’s ability to attract new businesses and tourists, who may not realize the cultural, recreational, and economic opportunities available. However, those who take the time to explore Wichita often discover a vibrant community full of surprises and hidden gems.
Pro: Innovative business environment
Wichita’s economy is not only strong in traditional sectors like aviation and healthcare but is also fostering an innovative business environment. The city is becoming a hub for startups and entrepreneurship, supported by initiatives like the e2e Accelerator and Wichita State University’s Innovation Campus. These efforts are creating a dynamic atmosphere for business development and innovation, attracting new talent and investment to the city. This entrepreneurial spirit is a significant pro for Wichita, signaling a bright future for its economy.
Con: Sparse public spaces in some areas
While Wichita offers beautiful parks and outdoor areas, the distribution of these public spaces can be uneven across the city. Some neighborhoods lack easy access to parks or recreational facilities, which can affect residents’ quality of life, particularly in more densely populated or underserved areas. Efforts are underway to address this imbalance, with plans for new parks and improvements to existing ones, aiming to ensure all Wichitans can enjoy the benefits of public spaces.
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.
Nestled in the heart of the Great Plains, South Dakota provides residents a unique blend of natural beauty, rich history, and tight-knit communities. Living in South Dakota means embracing a lifestyle defined by wide-open spaces, outdoor adventure, and a strong sense of community. From the city life of Sioux Falls, with its bustling downtown and vibrant cultural scene, to the historic charm of Rapid City, gateway to the Black Hills and home to iconic attractions like Mount Rushmore, South Dakota offers a diverse array of experiences. In this ApartmentGuide article, we’ll uncover the pros and cons of living in South Dakota, so you can learn what life is like in “The Mount Rushmore State.”
Renting in South Dakota snapshot
1. Pro: Expansive outdoor activities
With its diverse landscapes providing the perfect backdrop for various recreational activities, South Dakota is the perfect place for exploring. Residents can enjoy hiking in the Black Hills, fishing in the Missouri River, and camping in the state’s numerous parks and wilderness areas. For example, Custer State Park boasts scenic trails and wildlife viewing opportunities, while Badlands National Park offers unique rock formations and scenic overlooks.
2. Con: Harsh winters
South Dakota experiences harsh winters characterized by frigid temperatures, heavy snowfall, and strong winds, which can pose challenges for residents. Cities like Rapid City and Sioux Falls often contend with blizzards and extreme cold snaps, leading to hazardous driving conditions and disruptions to daily life.
3. Pro: Low cost of living
South Dakota boasts a low cost of living compared to many other states, with affordable housing, utilities, and overall expenses. Cities like Sioux Falls offer residents access to affordable housing options, with median home prices and rental rates below the national average. For instance, the median home price in Sioux Falls is $317,836 and the average rental price for a one-bedroom is $930, making housing more attainable for many South Dakotans.
4. Con: Limited entertainment options
South Dakota may have fewer entertainment options compared to more populous states, particularly in terms of nightlife, cultural attractions and restaurants. While cities like Aberdeen offer some entertainment venues and events, residents may find a lack of diversity and variety in recreational activities.
5. Pro: Strong sense of community
South Dakota is known for its strong sense of community, with residents often forming tight-knit bonds and supporting one another. Towns like Mitchell host community events and festivals that bring people together, such as the Shrine Circus, which adds to the community spirit.
6. Con: Limited public transportation
South Dakota may have limited public transportation options, especially in rural areas, which can hinder residents’ mobility and access to essential services. For instance, Sioux Falls has a transit score of 17, meaning there is minimal transit available.
7. Pro: Low traffic congestion
South Dakota enjoys low traffic congestion compared to more densely populated states, providing residents with shorter commute times and less stress on the road. Cities like Brookings have minimal traffic congestion, making it easier for residents to navigate urban areas and access amenities.
8. Con: Sparse population
South Dakota’s sparse population density, particularly in rural areas, can contribute to feelings of isolation and limited access to services and amenities. These rural towns and communities may be far removed from major urban centers and regional hubs, leading to challenges in accessing certain amenities and services.
9. Pro: Tax benefits
South Dakota’s lack of state income tax is a significant advantage for residents, allowing them to keep more of their earnings. This tax-friendly policy attracts individuals and businesses seeking to minimize their tax burden and maximize their disposable income.
10. Con: Economic dependence
South Dakota’s economy is heavily dependent on sectors such as agriculture, tourism, and healthcare, which can make it vulnerable to economic fluctuations. Deadwood and Spearfish rely on tourism and hospitality, while towns like Mitchell and Huron depend on agriculture and agribusiness. This economic dependence can lead to job insecurity and slower economic growth.
11. Pro: Sense of adventure
Whether it’s hiking to the summit of Harney Peak, the highest point in the Black Hills, or embarking on a scenic drive along the Needles Highway, there’s always something new to discover in the state. For example, the annual Buffalo Roundup in Custer State Park allows visitors to witness the thrilling sight of hundreds of bison thundering across the prairie, showcasing South Dakota’s rugged beauty and sense of adventure.
12. Con: Feeling of isolation
Methodology : The population data is from the United States Census Bureau, walkable cities are from Walk Score, and rental data is from ApartmentGuide.
The Federal Housing Administration (FHA) on Friday published Mortgagee Letter 2024-08, which extends a foreclosure moratorium on the Hawaiian island of Maui through Aug. 4, 2024, for FHA-insured forward mortgages and Home Equity Conversion Mortgages (HECMs).
The moratorium, initially scheduled to expire on May 6 after a previous extension, has been pushed out 90 days in recognition of the continued recovery efforts taking place after wildfires on the island in the summer of 2023.
Those fires devastated the town of Lahaina, destroying much of it and killing a confirmed 101 people as of February 2024, a figure revised slightly downward since the days following the fires. Two people remain listed as missing, and two-thirds of the victims were at or over the age of 60, according to reporting by The Associated Press.
“This extension recognizes the unprecedented disaster in Maui resulting from the August 2023 wildfires,” FHA said in an announcement of the extension. “Therefore, FHA has extended its moratorium to give borrowers with FHA-insured mortgages on properties located in Maui County more time to access federal, state, and/or local housing resources, and to consult with HUD-certified housing counselors, without the added burden of potential foreclosure actions.”
The new Mortgagee Letter also “extends the deadlines for first legal action and reasonable diligence time frames to 90 days from the new August 4, 2024, moratorium date for foreclosures initiated on FHA-insured single family forward mortgages on properties in Maui County,” FHA explained.
As was previously the case, the relief applies to both single-family forward mortgage borrowers as well as reverse borrowers through the HECM program under specific criteria.
“[M]ortgagees must extend the moratorium on foreclosures of FHA-insured [HECMs] secured by properties located in Maui County,” the guidance states. “The foreclosure moratorium is applicable only if the HECM is due and payable for reasons other than the death of the last remaining borrower and is not subject to a deferral period; and to the initiation of foreclosures, and foreclosures already in process.”
In the immediate aftermath of the fires, FHA reminded lenders and servicers of both forward and reverse mortgages that relief options are available for borrowers impacted by recent natural disasters.
At that time, FHA also reminded lenders that they should contact borrowers impacted by these disasters as soon as possible while encouraging them to use “any permissible means” to contact borrowers and provide forbearance relief.