Yes, college is expensive. The real surprise: Housing can be pricier than tuition. At public four-year colleges in 2023-24, the average cost for housing and food was $12,770 — higher than the $11,260 for tuition and fees, according to a 2023 College Board report. Students at community colleges and private schools also faced similarly high housing costs.
High housing prices can impact a student’s ability to thrive at college or complete their degree. According to a 2019 report by Temple University’s Hope Center in Philadelphia, about 56% of surveyed students said they experienced housing insecurity — including the inability to pay rent — in the previous year.
“We see escalating prices and escalating costs whether you’re on- or off-campus, and so it’s becoming a bigger piece of the college education funding puzzle for a lot of families,” says Olan Garrett, associate vice president of student affairs at Temple University.
There are strategies to lower your college housing costs, from getting roommates to carefully comparing on- and off-campus options. Advisors at your college can guide you toward affordable options, even in emergency situations.
Before you take out more student loans than necessary to pay for college housing, consider these expert-approved tips.
Start early and do your research
Start looking for housing as early as possible — for many students looking off-campus, that will be mid- to late-fall for the next academic year, says Garrett. You may have more time if you want to live on-campus: that selection process typically opens in the spring, he says.
“The later you wait, the fewer options there will be,” Garrett says.
One way to get ahead of the curve: reach out to leasing agents in your community. “For example, if you’re going to an open house or an apartment tour, find the leasing agent and get in contact with them about what other available units might come up,” suggests Matt Aini, chair of the Student HOMES Coalition, a student-run organization that promotes affordable student housing policies. This could help you find apartments that aren’t yet listed online.
Do some research on your potential landlord or rental management company before signing a binding lease. Reach out to friends and peers and look up online reviews.
“How have people perceived the way the landlord works? Is it a landlord that’s very responsive to requests?” says Garrett.
Compare on-campus and off-campus options
Off-campus living may come with more independence and cheaper rent — but when it comes to comparing costs with on-campus options, it’s not always “apples to apples,” says Garrett.
With on-campus living, utilities like heat, water, electricity, trash and WiFi are typically baked into your housing fee. The dorm may also come fully furnished. Off-campus rent doesn’t usually include these services, so you’ll have extra college expenses. Off-campus apartments may also require a security deposit and first month’s rent upfront.
Most college websites offer online cost-of-living calculators that can help you compare average costs of living on- or off-campus.
If your school is close to home and you have the option to continue living there, you may consider commuting to save money on housing.
Aini, who is a senior at the University of California, Berkeley, lives with his parents nearby and commutes to campus.
“I made a very conscious decision,” Aini says. “And among other things, you see the cost. And I think it just makes things easier.”
Get roommates and manage expectations
Having a roommate is part of the quintessential college experience for many freshmen at American universities. Even after freshman year, living with roommates allows you to split rent and utility bills.
“I do believe there’s value in roommates or shared living environments,” says Brenda Ice, senior associate dean and senior director of residential life at Brown University in Providence, R.I. “This isn’t me saying, ‘try to pack in as many people as you can in a particular house or apartment,’ but I do believe there is both a social benefit of living with more than one person in a shared space, while also helping to cut down on costs.”
Be willing to compromise on amenities to get a place that’s within your budget. You may not be able to live in a brand new or recently renovated residence hall without roommates.
“Understand the first goal of this is to be able to live in a place of comfort that allows you to sleep, study, do the things you need to do,” Garrett says.
Reach out to university resources
For help navigating housing options, reach out to your university’s housing and residence life office. School administrators can walk you though on-campus options, and some can help with off-campus housing.
“Have a conversation with a housing officer,” Garret says. “In most cases, one size does not fit all.”
Many colleges offer off-campus housing databases with vetted landlords and properties. Some may even offer free workshops. For example, Brown works with a campus partner to teach students about financial literacy, understanding leases, connecting with neighbors and more, Ice says.
Even if your school doesn’t offer such robust housing resources, it likely has a housing officer. At North Seattle College, a community college, housing resource specialist Shannon Thomas helps students through emergency housing situations.
“I make connections with agencies and programs all throughout the area, whether it’s community service organizations, city or state programming, private landlords, or other schools and agencies,” Thomas explains.
Submit the FAFSA to minimize borrowing costs
If you need to take out student loans for housing, then prioritize federal student loans, which have more generous protections and flexible repayment options. You must submit the FAFSA to qualify for federal student loans and need-based Pell Grants. If you’ve borrowed the maximum amount in federal loans, consider private student loans as a last resort to fill in any funding gaps.
Read your lease and communicate with landlords
If you plan to live off campus, understand that leases are binding legal documents with major financial implications. Violating your lease terms may result in extra fees, eviction and a stain on your record that could make it difficult to rent an apartment in the future.
Some schools, like Brown, employ attorneys to help students with legal advice, including reviewing lease terms and navigating landlord disputes. You can also bring your lease documents to a free legal clinic at your school or in your community, says Aini.
If you’re already living off-campus and foresee an issue paying rent, reach out to your landlord proactively, Garrett says.
“I’m channeling my wife here, who’s a property manager, she would say, ‘communicate with your landlord early … if you know you’re going to be an issue, let them know you’re going to be an issue.’ Most landlords are willing to work with you up front,” he explains.
Apply for emergency housing grants
According to the 2019 Hope Center survey, 14% of students at four-year colleges said they experienced homelessness in the past 12 months. At community colleges, that figure was 18%. The vast majority of these students temporarily stayed with a relative or friend, the survey found.
Grants can help you get by in emergency situations where you’re at risk of losing housing. States, cities and institutions usually offer these grants. To learn about your options, reach out to the housing officer at your institution.
For example, colleges in Washington state can dole out the Washington Student Achievement Council (WSAC) emergency grant.
To apply for the WSAC grant, students typically first meet with a housing coordinator at their school, says Thomas, who oversees the WSAC grant program at North Seattle College. The amount of money students can get from this grant is flexible, though Thomas says it goes up to roughly $3,000.
“We will assess their housing needs, their basic needs and then we’ll prioritize what those are and set a course for finding them,” Thomas says. “A student might drop in and say, ‘we’re moving into an apartment that’s going to cost us ‘X’ amount of money. I only have so much. I am not receiving assistance from my family, or can’t pay for a variety of reasons. And so can you help me with this?’ And so what happens is, we take a request for financial assistance and we explore it as a team.”
In an urgent situation, Thomas says he may refer students to a shelter or arrange for a stay in a motel.
“It’s pretty clear that if you’re addressing the basic needs of your students, that you’re going to improve your retention rates … and you’re also going to improve the quality of community on your campus,” Thomas says.
If you’re dreaming of owning your own home, whether that means a cute Colonial or a loft-style condo, you are likely contemplating financing, and that can mean a mortgage. A home loan can give you the funds required to purchase a property, but there can be a learning curve involved, especially if you are a first-time homebuyer. For instance, what term should you select? How do mortgage interest rates work, and is a fixed rate typically best?
In this guide, you’ll get the scoop on how home loans work, what kind of options you have, and how to assess which loan could be right for you.
What is a Mortgage?
A mortgage loan, also known simply as a mortgage, is issued to a borrower who is either buying or refinancing real estate.
The borrower signs a legal agreement that gives the lender the ability to take ownership of the property if the loan holder doesn’t make payments according to the agreed-upon terms.
Once issued a mortgage, the homebuyer will pay monthly principal (that’s the lump sum of the loan) and interest payments for a specific term. The most common term for a fixed-rate mortgage is 30 years, but terms of 20, 15, and even 10 years are available.
A shorter-term translates to a higher monthly payment but lower total interest costs. Put another way, you pay more every month, but the amount of interest over the life of the loan is lower.
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💡 Quick Tip: You deserve a more zen mortgage loan. When you buy a home, SoFi offers a guarantee that your loan will close on time. Backed by a $5,000 credit.‡
A Buffet of Mortgage Choices
When homebuyers apply for a loan, they’ll need to choose whether they want a fixed interest rate or an adjustable rate and the length of the loan.
Fixed-Rate Mortgage
The interest rate on the home loan doesn’t change, so the monthly principal and interest payment remains the same for the life of the loan. Whether mortgage rates increase or decrease, the loan holder is locked in for their monthly payment.
Adjustable-Rate Mortgage (ARM)
With an ARM, the interest rate is generally fixed for an initial period of time, such as five, seven, or 10 years, and then switches to a variable rate of interest. The rate fluctuates with the rate index that it’s tied to.
As the rate changes, monthly payments may increase or decrease. These loans generally have yearly and lifetime interest rate caps (or maximums) that limit how high the variable rate can adjust to.
Next, borrowers will need to decide what type of mortgage loan works best for them.
Conventional Loans
Conventional loans are loans that are not backed by a government agency and must adhere to the requirements of Fannie Mae, Freddie Mac, or other investors. Typically, conventional loans are issued with at least 3% down. However, it’s worth noting that private mortgage insurance (commonly known as PMI) is generally required on loans with a down payment of less than 20%.
The coverage protects the lender against the risk of default. Your mortgage servicer must cancel your PMI when the mortgage balance reaches 78% of the home’s value or when the mortgage hits the halfway point of the loan term, if you’re in good standing.
PMI typically costs 0.2% to 2% of the loan amount per year.
Down payment: Generally between 3% and 20% of the purchase price or appraised value of the home, depending on the lender’s requirements.
FHA Loans
Loans insured by the Federal Housing Authority, or FHA loans, can be attractive to first-time homebuyers or those who struggle to meet the minimum requirements for a conventional loan. In a SoFi survey of 500 would-be homeowners conducted in April 2024, 28% of people who had filled out a loan application had applied for this type of loan, and fully 63% of those who filled out an application had applied for some type of government-backed financing.
These loans usually require a one-time upfront mortgage insurance premium (or MIP vs. PMI), which typically can be added to the mortgage, and an annual insurance premium, which is collected in monthly installments for the life of the loan in most cases.
Down payment: Starts at 3.5%
Recommended: First-Time Homebuyer Guide
VA Loans
Loans guaranteed by the U.S Department of Veterans Affairs are available to veterans, active-duty service members, and eligible surviving spouses. SoFi’s survey showed that 12% of potential homebuyers who applied for a loan had filled out a VA loan application.
VA-backed loans require a one-time “VA funding fee,” which can be rolled into the loan. The fee is based on a percentage of the loan amount and may be waived for certain disabled vets. The current range is from 1.5% to 3.3% of the loan amount.
Down payment: None for approximately 80% of VA-backed home loans. 💡 Quick Tip: A VA loan can make home buying simple for qualified borrowers. Because the VA guarantees a portion of the loan, you could skip a down payment. Plus, you could qualify for lower interest rates, enjoy lower closing costs, and even bypass mortgage insurance.†
How Does a Mortgage Work?
There are several components to a monthly mortgage payment.
Principal: The principal is the value of the loan. The portion of the payment made toward the principal reduces how much a borrower owes on the loan.
Interest: Each month, interest will be factored into payments according to an amortization schedule. Even though a borrower’s fixed payment may stay the same over the course of the loan, the amount allocated toward interest generally decreases over time while the portion allocated to principal increases.
Taxes: To ensure that a borrower makes annual property tax payments, a lender may collect monthly property taxes with the monthly mortgage payment. This money can be kept in an escrow account until the property tax bill is due, and the lender can make the property tax payment at that time.
Homeowners insurance: Mortgage lenders usually require evidence of homeowners insurance, which can cover damage from catastrophes such as fire and storms. As with property taxes, many lenders collect the insurance premiums as part of the monthly payment and pay for the annual insurance premium out of an escrow account. Depending on your property location, you may have to add flood, wind, or other additional insurance.
Mortgage insurance: When a borrower presents a down payment of less than 20% of the value of the home, mortgage lenders typically require private mortgage insurance. When developing a budget for owning a home, it’s important to know the difference between mortgage insurance and homeowners insurance and whether both are required.
Reverse Mortgage Loans: What Are They?
A reverse mortgage is available to homeowners 62 and older to supplement their income or pay for healthcare expenses by tapping into their home equity.
The loan can come in the form of a lump-sum payment, monthly payments, a line of credit, or a combination, usually tax-free. Interest accrues on the loan balance, but no payments are required. When a borrower dies, sells the property, or moves out permanently, the loan must be repaid entirely.
The fees for an FHA-insured home equity conversion mortgage, typically the most common type of reverse mortgage, can add up:
• An initial mortgage insurance premium of 2% and an annual MIP that equals 0.5% of the outstanding mortgage balance
• Third-party charges for closing costs
• Loan origination fee
• Loan servicing fees
You can pay for most of the costs of the loan from the proceeds, which will reduce the net loan amount available to you.
You remain responsible for property taxes, homeowners insurance, utilities, maintenance, and other expenses.
A HUD site details all the criteria for borrowers, financial requirements, eligible property types, and how to find an HECM counselor, a mandatory step.
If you’re considering a reverse mortgage, learn as much as you can about this often complicated kind of mortgage before talking to a counselor or lender, the Federal Trade Commission advises.
How to Get A Mortgage
For many people, it can be a good idea to shop around to get an idea of what is out there.
Not only will you need to choose the lender, but you’ll need to decide on the length of the loan, whether to go with a fixed or variable interest rate, and weigh the applicable loan fees.
The first step is to have an idea of what you want and then seek out quotes from a few lenders. That way, you can do a side-by-side comparison of the loans.
Once you’ve selected a few lenders to get started with, the next step is to get prequalified or preapproved for a loan. Based on a limited amount of information, a lender will estimate how much it is willing to lend you.
When you’re serious about taking out a mortgage loan and putting an offer on a house, the next step is to get preapproved with a lender.
During the preapproval process, the lender will take a closer look at your finances, including your credit, employment, income, and assets to determine exactly what you qualify for. Once you’re preapproved, you’re likely to be considered a more serious buyer by home sellers.
When shopping around for a mortgage, it can be a good idea to consider the overall cost of the mortgage and any fees.
For example, some lenders may charge an origination fee for creating the loan, or a prepayment penalty if you want to pay back the loan ahead of schedule. There may also be fees to third parties that provide information or services required to process, approve, and close your loan.
To compare the true cost of two or more mortgage loans, it’s best to look at the annual percentage rate, or APR, not just the interest rate. The interest rate is the rate used to calculate your monthly payment, but the APR is an approximation of all of the costs associated with a loan, including the interest rate and other fees, expressed as a percentage. The APR makes it easier to compare the total cost of a loan across different offerings so you can assess what is a good mortgage rate for your budget.
The Takeaway
If the world of mortgages feels like a mystery to you, you are not alone. Before taking on this colossal commitment, it can be best to soak up as much as you can about how mortgage loans work, what kinds of mortgages are available, potential challenges, and steps to qualify. You’ll be better prepared to take on what can be a major step in your personal financial journey.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% – 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It’s online, with access to one-on-one help.
SoFi Mortgages: simple, smart, and so affordable.
†Veterans, Service members, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veterans Affairs. VA loans are subject to unique terms and conditions established by VA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. VA loans typically require a one-time funding fee except as may be exempted by VA guidelines. The fee may be financed or paid at closing. The amount of the fee depends on the type of loan, the total amount of the loan, and, depending on loan type, prior use of VA eligibility and down payment amount. The VA funding fee is typically non-refundable. SoFi is not affiliated with any government agency.
‡SoFi On-Time Close Guarantee: If all conditions of the Guarantee are met, and your loan does not close on or before the closing date on your purchase contract accepted by SoFi, and the delay is due to SoFi, SoFi will give you a credit toward closing costs or additional expenses caused by the delay in closing of up to $10,000.^ The following terms and conditions apply. This Guarantee is available only for loan applications submitted after 04/01/2024. Please discuss terms of this Guarantee with your loan officer. The mortgage must be a purchase transaction that is approved and funded by SoFi. This Guarantee does not apply to loans to purchase bank-owned properties or short-sale transactions. To qualify for the Guarantee, you must: (1) Sign up for access to SoFi’s online portal and upload all requested documents, (2) Submit documents requested by SoFi within 5 business days of the initial request and all additional doc requests within 2 business days (3) Submit an executed purchase contract on an eligible property with the closing date at least 25 calendar days from the receipt of executed Intent to Proceed and receipt of credit card deposit for an appraisal (30 days for VA loans; 40 days for Jumbo loans), (4) Lock your loan rate and satisfy all loan requirements and conditions at least 5 business days prior to your closing date as confirmed with your loan officer, and (5) Pay for and schedule an appraisal within 48 hours of the appraiser first contacting you by phone or email. This Guarantee will not be paid if any delays to closing are attributable to: a) the borrower(s), a third party, the seller or any other factors outside of SoFi control; b) if the information provided by the borrower(s) on the loan application could not be verified or was inaccurate or insufficient; c) attempting to fulfill federal/state regulatory requirements and/or agency guidelines; d) or the closing date is missed due to acts of God outside the control of SoFi. SoFi may change or terminate this offer at any time without notice to you. *To redeem the Guarantee if conditions met, see documentation provided by loan officer. *SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
SoFi Loan Products SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
SoFi Mortgages Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility for more information.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
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You may have heard that 20% is the ideal down payment on a house, but that doesn’t mean you must pony up that amount to become a homeowner. In truth, the average house down payment is considerably smaller. Currently, the median down payment for a house is 15%, according to data from the National Association of Realtors® (NAR).
Here, you’ll learn more about down payments so you can house-hunt like an insider. Getting a sense of what others are paying and how that differs based on geographic area is helpful. We’ll also share how you might access help if you can’t come up with 20%. Armed with this intel, you’ll be better prepared to navigate that major rite of passage: purchasing a home.
Table of Contents
Key Points
• The median down payment for a house in the US ranges widely from 10% to 35% of the purchase price.
• The amount of the down payment can vary based on factors like loan type, credit score, and lender requirements.
• A larger down payment can result in lower monthly mortgage payments and potentially better loan terms.
• Down payment assistance programs and gifts from family members can help with affordability.
• It’s important to save and plan for a down payment to achieve homeownership goals.
Average Down Payment Statistics
As of 2023, the median down payment for a house was 15%, or $63,908 if you consider that the median national home price in 2023 was $426,056, according to Redfin. This was up slightly from 13% in 2022, according to the NAR. (The median means half of buyers put down less and half put down more; it’s generally considered a better barometer than an average, because the latter can be thrown off by outliers — people who spend wildly more or less than usual.)
This 15% figure shows that the conventional wisdom that you need 20% down to purchase a home is, to a large extent, untrue. In fact, in an April 2024 SoFi survey of prospective homebuyers, many planned to put down far less than 20%. Almost a third of respondents (29%) said they planned to put down 10% or less, and 7% of those surveyed were exploring zero-down-payment options.
A 20% down payment will lower your mortgage amount and monthly payments vs. a smaller down payment, and will allow you to avoid private mortgage insurance (PMI), but it’s not the only game in town.
Average Down Payment on a House for First-Time Buyers
First-time buyers make about a third of all home purchases, and the typical down payment for first-time buyers in the NAR survey was 8%, while repeat buyers’ typical down payment was 19%. (Repeat buyers often have money from the sale of their first residence to put toward the purchase of their next one.)
Down Payment Requirements by Mortgage Loan Type
The amount of money you put down on a home may be governed in part by the type of mortgage loan you choose (and conversely, how much money you have saved for a down payment could dictate the type of mortgage you qualify for). Let’s take a look at the different loan types and their down payment requirements.
Remember that if you are buying your first home or you haven’t purchased a residence in three or more years, you may qualify as a first-time homebuyer and be eligible for special first-time homebuyer programs.
Conventional Loan
This is the kind of loan favored by most buyers, and for first-time homebuyers some conventional home loans can allow for as little as 3% down on a home purchase. A repeat homebuyer might need to put down a bit more — say 5%.
FHA Loan
An FHA loan, acquired through private lenders but guaranteed by the Federal Housing Administration, allows for a 3.5% minimum down payment if the borrower’s credit score is at least 580.
VA Loan and USDA Loan
These loans usually require no down payment, although there are still other hoops to jump through to qualify for one of these loans.
A VA loan backed by the Department of Veterans Affairs, is for eligible veterans, service members, Reservists, National Guard members, and some surviving spouses. The VA also issues direct loans to Native American veterans or non-Native American veterans married to Native Americans. For a typical VA loan borrower, no down payment is required.
A USDA loan backed by the U.S. Department of Agriculture is for households with low to moderate incomes buying homes in eligible rural areas. The USDA also offers direct subsidized loans for households with low and very low incomes. Typically, a credit score of 640 or higher is needed. While borrowers can make a down payment, one is not required.
Jumbo Loan
A jumbo loan is a loan for an amount over the conforming loan limit, which is set by the Federal Housing Finance Agency (FHFA). In most U.S. counties, the conforming loan limit for a single-family home in 2024 is $766,550. Minimum down payment rules for jumbo loans vary by lender but are generally higher than those for conforming loans. Some lenders require a 10% down payment, and others require as much as 20%.
For all of the above loan types, the home being purchased must be a primary residence in order to qualify for the minimum down payment, but a homebuyer can use a conventional or VA loan to purchase a multifamily property with up to four units if one unit will be owner-occupied.
Average Down Payment by Age Group
The latest NAR Home Buyers and Sellers Generational Trends Report breaks down by age the percentage of a home that was financed by homebuyers in 2023.
Older buyers tend to use proceeds from the sale of a previous residence to help fund the new home. Buyers 59 to 68 years old, for instance, put a median of 22% down, the NAR report shows.
Most younger buyers depend on savings for their down payment. Buyers ages 25 to 33 put down a median of 10%, and those ages 34 to 43, 13%. A fortunate 20% of the younger homebuyers (those age 25-33) received down payment help from a friend or relative.
Percentage of Home Financed
All buyers
Ages 25-33
Ages 34-43
Ages 44-58
Ages 59-68
Ages 69-77
Ages 78-99
50%
15%
6%
8%
15%
22%
31%
29%
50-59%
6%
2%
5%
5%
9%
14%
11%
60-69%
6%
2%
5%
6%
9%
11%
9%
71-79%
13%
13%
14%
14%
12%
9%
15%
80-89%
23%
26%
27%
22%
19%
18%
14%
90-94%
13%
19%
14%
12%
10%
4%
8%
95-99%
14%
22%
17%
12%
8%
4%
7%
100% (financed the whole purchase)
12%
9%
11%
13%
9%
9%
6%
Average Down Payment by State
The average house down payment in any given state is tied to home prices in that location. You can look into the cost of living by state for an overview and then find the median home value in a particular state at a given point in time and estimate what your down payment might be.
The least expensive states in which to buy a home? Iowa, Oklahoma, Ohio, Mississippi, and Louisiana are among them, according to Redfin.
Average Down Payment On a House in California
California, the most populous state and one of the largest by area, is joined by Hawaii and Colorado on many lists of the most expensive states in which to buy a house. Redfin shows a median sales price of $859,300 in California in spring of 2024. A 3% down payment would be $25,779; 10% down, $85,930; and 20% down, $152,260. The Los Angeles housing market is among the toughest in California, with the median sale price up more than 10% in the last year to $1,050,000. You might want to check out housing market trends by city as well if you are interested in finding out where owning a home could be more or less expensive.
Hawaii comes out near the top with a median home price of $754,800. Three percent down would be $22,644; 10% down, $75,480; and 20%, $150,960. In Hawaii, the conforming loan limit is $1,149,825, a reflection of the state’s high home prices. If you need a mortgage for more than that amount in Hawaii, you’ll be in the market for a jumbo loan.
Recommended: How to Afford a Down Payment on Your First Home
First-time homebuyers can prequalify for a SoFi mortgage loan, with as little as 3% down.
Source of Down Payment
You’re probably wondering where homebuyers get the money to afford a down payment, especially first-time homebuyers. NAR has polled buyers to probe that question. Not surprisingly, more than half of buyers (53%) simply say they have saved up the money — which of course isn’t simple at all.
Savings is especially likely to fund a home purchase for those ages 25-33. Almost three-quarters of younger buyers rely on it for their down payment. Older buyers also use savings but are more likely to draw on the sale of a primary residence. This is especially true after age 59.
Other down payment sources include gifts from relatives or friends, sale of stock, a loan or draw from a 401K or pension, or an inheritance. For those who don’t have generational wealth or savings to rely on, first-time homebuyer programs can make home ownership possible.
City, county, and state down payment assistance programs are also out there. They may take the form of grants or second mortgages, some with deferred payments or a forgivable balance.
How Does Your Down Payment Affect Your Monthly Payments?
Curious to see what your potential mortgage would look like based on different down payments? Start with a home affordability calculator (like the one below) to get a feel for how much you’ll need to put down and other expenses.
Or use this mortgage calculator to estimate how much your mortgage payments would be, depending on property value, down payment, interest rate, and repayment term.
What Do I Need to Buy a House?
If Your Down Payment Is Less Than 20%
If your down payment will be less than 20%, you now know that you’ll have plenty of company. (In SoFi’s survey, 14% of would-be buyers said not having an adequate down payment was their primary challenge.) Consider these ways to optimize the situation:
• A government loan could be the answer: FHA loans are popular with some first-time buyers because of the lenient credit requirements. The down payment for an FHA loan is just 3.5% if you have a credit score of 580 or more. Just know that upfront and monthly mortgage insurance premiums (MIP) always accompany FHA loans, and remain for the life of the loan if the down payment is under 10%. If you put 10% or more down, you’ll pay MIP for 11 years.
• You may be able to improve your loan terms: If you can’t pull together 20% for a down payment, you can still help yourself by showing lenders that you’re a good risk. You’ll likely need a FICO® score of at least 620 for a conventional loan. If you have that and other positive factors, you may qualify for a more attractive interest rate or better terms.
• You can eventually cancel PMI: Lenders are required to automatically cancel PMI when the loan balance gets to 78% LTV of the original value of the home. You also can ask your lender to cancel PMI on the date when the principal balance of your mortgage falls to 80% of the original home value.
You may be able to find down payment assistance: City, county, and state down payment assistance programs are out there, and SoFi’s survey suggests they don’t get enough attention: About half (49%) of the homebuyers who said they were challenged to come up with a down payment hadn’t looked into city or state down payment assistance programs. The assistance may take the form of grants or second mortgages, some with deferred payments or a forgivable balance.
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Dream Home Quiz
The Takeaway
What is the average down payment on a house? Currently, it’s about 15% of the home’s purchase price, which usually means mortgage insurance and higher payments for the buyer. But buyers who put less than 20% down on a house unlock the door to homeownership every day. If you want to join them, you can be helped along by low down payments for first-time homebuyers, as well as government loans, down payment assistance, and other programs.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% – 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It’s online, with access to one-on-one help.
SoFi Mortgages: simple, smart, and so affordable.
FAQ
Is 10% down payment enough for a house?
Yes. More than a third of all buyers put down 10% or even less to buy a home. Lower down payments are especially common among younger and/or first-time homebuyers.
What is the minimum you should put down on a house?
Conventional wisdom says the minimum down payment is 20%, but most buyers put down less — 15% is far more common. Younger buyers and first-time homebuyers, especially, often put down far less and some home loans allow you to finance 97% or even 100% of the home’s cost.
What factors can affect my down payment requirements?
The amount of down payment you’ll need to come up with depends on your loan type, credit history and credit score, the cost of the property you’re buying, and whether you are a first-time homebuyer.
What are the pros and cons of putting down less than 20% on a house?
Putting down less than 20% on a house might allow you to buy a home sooner. It might also permit you to set aside money for renovations or to pay off other debts. The disadvantage is that those who put down less than 20% usually have to pay for private mortgage insurance which adds to their monthly costs. (Those with FHA loans who put down less than 20% will pay a mortgage insurance premium.)
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*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
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¹FHA loans are subject to unique terms and conditions established by FHA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. FHA loans require an Upfront Mortgage Insurance Premium (UFMIP), which may be financed or paid at closing, in addition to monthly Mortgage Insurance Premiums (MIP). Maximum loan amounts vary by county. The minimum FHA mortgage down payment is 3.5% for those who qualify financially for a primary purchase. SoFi is not affiliated with any government agency.
†Veterans, Service members, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veterans Affairs. VA loans are subject to unique terms and conditions established by VA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. VA loans typically require a one-time funding fee except as may be exempted by VA guidelines. The fee may be financed or paid at closing. The amount of the fee depends on the type of loan, the total amount of the loan, and, depending on loan type, prior use of VA eligibility and down payment amount. The VA funding fee is typically non-refundable. SoFi is not affiliated with any government agency.
Montana is a state known for its wide-open spaces, breathtaking natural beauty, and a rugged, independent way of life. But like any state, living in Montana comes with both benefits and challenges. This article dives into the pros and cons of living in Montana to help you decide if it’s the right place for you.
Is Montana a good place to live?
Life in Montana is defined by its striking landscapes, from the towering Rocky Mountains in the west to the rolling prairies in the east. The largest city, Billings, offers a small but growing urban center with a mix of retail, entertainment, and industry jobs. Other notable cities like Missoula and Bozeman are hubs for adventure and home to top-tier universities, including the University of Montana and Montana State University. While urban areas are expanding, much of Montana retains a rural, frontier atmosphere, where people value space, privacy, and self-sufficiency.
Montana state overview
Population
1,084,225
Biggest cities in Montana
Billings, Missoula, Great Falls
Average rent in Billings
$1,425
Average rent in Missoula
$1,295
Average rent in Great Falls
$1,525
1. Pro: An outdoor paradise
Montana is an outdoor lover’s dream, providing access to some of the most stunning landscapes in the country. With two major national parks, Glacier and Yellowstone, plus countless state parks and wilderness areas, there’s no shortage of adventure. Whether you’re into hiking, fishing, skiing, or simply soaking in the views, you’ll find an outdoor activity for every season.
Insider scoop: For a true local experience, visit the hidden gem of Hyalite Canyon near Bozeman. It’s a favorite spot for locals, offering hiking trails, waterfalls, and ice climbing in the winter—without the crowds you’ll find in the national parks.
2. Con: Long, harsh winters
Montana winters can be brutal, especially in the northern and mountainous regions where temperatures can plummet well below freezing. Heavy snowfall and icy roads can make daily life challenging, and cabin fever is a real concern during the months of subzero temperatures. For those not accustomed to cold weather, the winter season can be a major downside. Cities like Great Falls and Helena regularly see snowfall starting as early as October and lasting through April.
Insider scoop: Embracing the winter is key—head to Bridger Bowl near Bozeman for some of the best skiing in the state, or check out Missoula’s winter markets for fresh produce and handmade goods that bring a bit of warmth to the coldest months.
3. Pro: No sales tax
Montana is one of the few states in the U.S. with no statewide sales tax, making it a good place for those who want to stretch their money further. Whether you’re buying a new car, furniture, or groceries, you’ll save a bit more on each purchase compared to states with high sales taxes.
4. Con: Limited public transportation
Montana’s sprawling geography and low population density mean that public transportation options are limited. Most residents need to rely on their own vehicles to get around, even within cities. Rural areas are especially challenging for those without a car, as bus and train routes are virtually non-existent outside of the larger urban centers. Ride-sharing options like Uber and Lyft are also less common, making transportation a potential headache for those without a reliable vehicle.
5. Pro: Low population density
Montana is one of the least densely populated states in the U.S., with only about 1.08 million residents spread over its vast landscape. This means plenty of room to breathe, privacy, and fewer crowded public spaces. The low population density is perfect for those who value solitude or are looking to escape the hustle and bustle of larger cities. Even in towns like Billings or Missoula, you won’t feel overwhelmed by crowds.
6. Con: Expensive housing in certain areas
While Montana is often associated with affordable living, certain cities, particularly Bozeman and Missoula, have seen a surge in housing prices in recent years. Driven by an influx of new residents, these cities now have a housing market that rivals much larger metro areas. The average rent for a one-bedroom apartment in Great Falls is around $1,525, while Billings averages $1,425. For long-time residents, this increase in housing costs is a notable con.
Insider scoop: If you’re looking for a more affordable option, consider cities like Helena, where rental rates are lower, averaging around $1,125 for a one-bedroom apartment.
7. Pro: Growing job market in certain sectors
While Montana has traditionally relied on agriculture, mining, and tourism, the state’s job market is expanding in sectors like tech, healthcare, and education. Cities like Bozeman have become tech hubs, attracting startups and remote workers looking for a better quality of life. The healthcare industry is also thriving, with hospitals and medical centers in cities like Billings and Missoula offering numerous job opportunities.
8. Con: Potential risk of wildlife
Living in Montana means sharing the landscape with a variety of wildlife, from deer and elk to bears and mountain lions. While these animals add to the state’s natural charm, they can also pose risks, especially if you live in rural or mountainous areas. Bears are particularly common near Glacier and Yellowstone National Parks, and it’s not unusual to see warnings about wildlife encounters on hiking trails. Keeping bear spray handy and securing garbage bins are common practices in many parts of the state.
Travel tip: Always make noise when hiking in bear country to avoid startling wildlife, and store food securely when camping to keep critters at bay.
9. Pro: Slower, laid-back lifestyle
Montana offers a slower pace of life that’s hard to find elsewhere. The state’s rural charm, wide-open spaces, and small-town atmosphere make it perfect for those looking to escape the stress of city living. Even in the larger cities like Billings or Great Falls, the pace is far more relaxed compared to the hustle of metropolitan areas. People in Montana tend to value a work-life balance and outdoor recreation, making it an ideal place for those looking to unwind and live a simpler life.
10. Con: Montana is windy
Montana is known for its windy conditions, especially in the eastern plains and mountainous areas. The state’s wide-open spaces and high-altitude landscapes create an ideal environment for strong winds, particularly during the winter and spring months. In cities like Great Falls, Helena, and Livingston, it’s not uncommon to experience wind gusts exceeding 50 mph, which can make outdoor activities less enjoyable and even hazardous. The wind can also lead to increased heating costs in the colder months, as it amplifies the chill factor.
The information provided on this website does not, and is not intended to, act as legal, financial or credit advice. See Lexington Law’s editorial disclosure for more information.
Many Americans don’t closely track their finances or know what their current credit score is. Being financially literate, especially when it comes to credit usage, can make it much easier to manage your finances and, over time, improve your situation. The good news is that numerous personal finance tools are available today to make things easier than ever.
Keep reading to learn more about the top four personal finance tools you should start using today.
What are financial tools?
Financial tools are apps or services that help you track and manage your financial transactions. These tools can help you stay within your spending limits, meet your financial goals and make informed financial decisions.
Today, you can access many of these tools online through a secure platform or app. For many, these tools are an essential part of financial management. They help simplify the financial tracking process and make it easier to understand your current financial status.
Top 4 types of personal finance tools available
1. Budgeting tools
Financial freedom doesn’t just happen overnight. It takes careful planning and continuous tracking of where you spend every dollar. This is why maintaining a personal budget is so important. Keeping a budget can ensure you’re saving enough to meet your future needs, preventing you from spending more money than you earn and helping you create an emergency fund.
Fortunately, you no longer need to rely on pen and paper to keep a budget and track your spending. Instead, there are a number of online tools you can use to quickly track where you spend every dime. While Mint has been a popular budgeting tool for many consumers, it’s ceasing operations as of January 1, 2024. Whether you’re looking for a Mint replacement or your first budgeting app, here’s a look at the top options available.
You Need A Budget: Commonly referred to as YNAB, this tool uses the zero-based budget system to track every dollar you earn and spend. The easy-to-use finance tool lets you link all your accounts, including bank accounts, credit cards and loan payments, to help you get a clear view of your financial status.
Goodbudget: This online tool uses the popular envelope budgeting system to ensure you’re tracking every dollar you spend. While you can’t link your bank account to Goodbudget, you can import data from your bank to keep everything up to date. The app shows you how much money you have left to spend in each category.
PocketGuard: PocketGuard is a simplified budgeting tool that links to your bank accounts, credit accounts and loans. It automatically tracks your bills to let you know how much you have left to spend. While it doesn’t have all the special features you might find with other budgeting apps, it’s a good choice for those who prefer a straightforward approach to budget tracking.
HoneyDue: This online budgeting tool is ideal for couples who want to sync their accounts. It lets users customize their own settings for what information they want to share with each other and how to split expenses. HoneyDue also offers special features such as bill reminders and goal setting.
2. Online banking tools
Nearly all banks, credit unions and credit card companies offer online services. Chances are, you already use these online tools to track your account balance, deposits and charges. While using these tools for basic services is a good first step, these apps offer so much more. Here’s a look at several other online services most financial institutions offer.
Online bill payment: Most banks and credit unions let you use their online platform to pay bills. This great feature allows you to instantly make payments online so you can avoid late payment fees.
Mobile check deposit: Fortunately, you don’t have to run to the bank every time you want to deposit a check. You can deposit it directly through your mobile device. In many cases, you can see funds from these deposits in your account almost immediately or the next day.
Transfer funds: When that work bonus hits your bank account, you don’t have to risk spending more of it than you planned. Instead, use your online banking platform to transfer the funds from your checking to your savings account instantly.
Credit score: Some banks and credit unions provide their customers with a look at their credit score. This feature can help you track your score over time.
3. Investment tools
According to the latest Gallup poll, 61 percent of adults in the United States own some type of stock. For many, their stock ownership is limited to their 401(k), but your investment options don’t have to stop there. Many online tools are ideal for beginner and long-time investors.
Best of all, you don’t need a lot of money to invest. In fact, you can get started with your spare change. If you’re ready to start building your investment portfolio, check out these online investment tools.
Acorns: Acorns is a good option for those just starting to invest. There are no minimum deposit requirements when you sign up for its Round-Ups program. This program rounds up every transaction you make to the nearest whole dollar. It then uses these funds to automatically invest your money and build your portfolio.
RobinHood: RobinHood is a popular investment app for those who want to take charge of their own investment options. There are no minimum balance requirements or commission fees, which is great for those looking for a low-cost way to start investing in the stock market. RobinHood even lets users buy cryptocurrency.
Fidelity: If you’re looking for an online tool that offers a hands-off approach to investment while also helping you better understand the stock market, Fidelity may be the right option for you. The combination of its robo-advisor services and online resources and tools make it easy to build a customized investment strategy.
Betterment: Through the Betterment app, you can start investing with as little as $10. This app lets you set your financial goals, risk level and starting amount. With these details, it automatically creates an investment plan to help you reach your goals.
4. Credit-related tools
Many people fail to understand the full impact their credit score has on their overall financial health. For instance, you may already know that your credit report and credit score can impact your ability to secure a credit card or obtain a car or home loan. But did you also know your credit score can determine your ability to rent an apartment, land a job or set up utilities in your name without a deposit?
It’s crucial you stay up to date on your credit score and credit report. First, tracking your credit can alert you to drops in your score and give you time to take steps to address any issues. Second, understanding issues on your credit report lets you create a strategy for repairing or rebuilding your credit.
Finally, regularly examining your credit report can help you quickly identify any errors that are wrongfully hurting your credit and take steps to fix them. It can also help you guard against identity theft.
You’re entitled to request one free copy of your credit report each year from each of the three major credit bureaus—Experian, TransUnion and Equifax. But you don’t have to wait until the end of the year to track your credit. Instead, you can use Lexington Law’s free credit assessment and other paid services to get updated information related to your credit. Using a combination of these tools can help you get a better handle on your financial status and set up a strategy to improve your credit.
Note: Articles have only been reviewed by the indicated attorney, not written by them. The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, reviewers, contributors, contributing firms, or their respective agents or employers.
Missouri may be known for big cities like St. Louis and Kansas City and BBQ cuisine, but it’s also known for its scenic landscapes. From the lush plains region to blue lakes and the famous Ozark Mountains, Missouri has plenty of towns that capture the spirit of the great outdoors. So, if you’re looking for a mountain town to call home, look no further than Missouri.
At Rent., we’ve collected a list of the best mountain towns in Missouri to live in this year. Each town has its own unique character and community feel mixed with peaceful surroundings and outdoor adventure. Read on to discover which areas made the list.
1. Branson
Mountain range: Ozark Mountains
Average rent price: $1,157
Population: 11,540
Houses for rent in Branson, MO
Apartments for rent in Branson, MO
Homes for sale in Branson, MO
The first mountain town on our list is Branson, a popular travel destination in the heart of the Ozark Mountains. Branson offers a unique blend of entertainment and outdoor adventure. The town has a vibrant theater scene with spots like Dolly Parton’s Stampede, the Hughes Brothers Theatre, The Dutton Family Theater, and Clay Cooper Theatre, among many others. You can check out all the museums, theatres, and landmarks in the Branson Theatre District.
If you’re looking to get outdoors, Branson is surrounded by several parks and lakes, providing ample opportunities for fishing, hiking, and boating. Some areas to explore include Table Rock State Park, the Branson Scenic Overlook, Ozark Mountain State Park, White River Balds Natural Area, and Talking Rocks Cavern. Branson’s proximity to the mountains allows for easy access to scenic trails and outdoor activities, making it a great city for those who love nature and entertainment.
2. Camdenton
Mountain range: Ozark Mountains
Average rent price: $1,925
Population: 3,750
Houses for rent in Camdenton, MO
Apartments for rent in Camdenton, MO
Homes for sale in Camdenton, MO
Camdenton lies within the scenic Ozark Mountains, offering residents a peaceful place to call home. There are plenty of outdoor activities to explore in the area such as Bridal Cave & Thunder Mountain Park and Ha Ha Tonka State Park, which features the Ha Ha Tonka Spring Trail and Ha Ha Tonka Castle Ruins. Camdenton is a gateway to the Lake of the Ozarks, making it a haven for water sports enthusiasts.
With a population of under 4,000, Camdenton is also known for its close-knit community and access to outdoor adventures. In town, you can check out places like Ozarks Amphitheater, a popular concert venue, and the many local restaurants and shops. With its rich history and welcoming atmosphere, Camdenton is a great choice.
3. Cape Girardeau
Mountain range: Ozark Mountains
Average rent price: $1,106
Population: 39,530
Houses for rent in Cape Girardeau, MO
Apartments for rent in Cape Girardeau, MO
Homes for sale in Cape Girardeau, MO
Located on the banks of the Mississippi River and in the Ozark Mountains, Cape Girardeau is a city rich in history and natural beauty. With a population of nearly 40,000, it offers a mix of city and outdoor living. Cape Girardeau is home to numerous parks, historical sites, and cultural institutions like Historic Fort D, the Crisp Museum, Cape Rock Park, and The Glenn House.
Cape Girardeau’s residents enjoy a variety of recreational activities, including hiking, biking, and exploring the nearby trails. The city also serves as a gateway to the Trail of Tears State Park and the Shawnee National Forest. Finally, the vibrant downtown area boasts unique shops, restaurants, and galleries, giving residents plenty to do in Cape Girardeau.
4. Farmington
Mountain range: St. Francois Mountains
Average rent price: $667
Population: 18,210
Houses for rent in Farmington, MO
Apartments for rent in Farmington, MO
Homes for sale in Farmington, MO
Farmington is a charming town set against the backdrop of the St. Francois Mountains, offering plenty of outdoor areas to explore. Home to about 18,000 people, residents enjoy access to a variety of outdoor activities, including hiking in nearby state parks like St. Joe State Park, Hawn State Park, and Hickory Canyons Natural Area.
You can also learn about the region’s rich mining history at the Missouri Mines State Historic Site. Farmington’s community is vibrant, with local festivals, farmers’ markets, and cultural events throughout the year. The downtown area is also home to plenty of local restaurants, shops, and historic architecture.
5. Hollister
Mountain range: Ozark Mountains
Average rent price: $1,231
Population: 4,450
Houses for rent in Hollister, MO
Apartments for rent in Hollister, MO
Homes for sale in Hollister, MO
Located just south of Branson is the quaint town of Hollister. The town is surrounded by rivers, lakes, and forests, making it a perfect spot for outdoor enthusiasts. Near green spaces and trails like Lost Canyon Cave and Nature Trail, Table Rock State Park, and the Drury-Mincy Conservation Area, there is always a place to explore in the Hollister area.
Residents of Hollister enjoy the town’s proximity to Branson, with its entertainment options, while having a more laid-back atmosphere. Hollister’s historic downtown area, with its unique architecture and local businesses, adds to the town’s charm and appeal.
6. Joplin
Mountain range: Ozark Mountains
Average rent price: $1,047
Population: 50,030
Houses for rent in Joplin, MO
Apartments for rent in Joplin, MO
Homes for sale in Joplin, MO
Sixth on our list is Joplin, a historic city known for its location along Route 66. Situated in the Ozark Mountains, Joplin is close to natural areas like Shoal Creek, the George Washington Carver National Monument, Grand Falls, and the OK-KS-MO Tri-State Marker.
Joplin’s residents have easy access to numerous parks, museums, and cultural venues. The town’s rich mining history is celebrated in local museums and attractions, like the Joplin History & Mineral Museum, Route 66 Mural Park, and the Joplin Union Depot. Joplin is also known for its vibrant arts scene, with galleries, theaters, and public art installations throughout the city, which showcase the city’s history.
7. Lebanon
Mountain range: Ozark Mountains
Average rent price: $996
Population: 14,900
Houses for rent in Lebanon, MO
Apartments for rent in Lebanon, MO
Homes for sale in Lebanon, MO
Lebanon offers a blend of outdoor adventure and small-town charm, close to parks like Bennett Spring State Park, Bear Creek Conservation Area, and the Lead Mine Conservation Area. The town is known for its beautiful parks, historic landmarks, and access to outdoor activities such as fishing, hiking, and camping.
For example, you can check out places like the Route 66 Museum, the E.D. Rush Covered Bridge, and the Boswell Park Rt 66 Murals. The town hosts several annual events that bring the community together, including festivals and farmers’ markets. Lebanon combines the tranquility of mountain living with modern city life.
8. Rolla
Mountain range: Ozark Mountains
Average rent price: $813
Population: 20,180
Houses for rent in Rolla, MO
Apartments for rent in Rolla, MO
Homes for sale in Rolla, MO
Rolla is a vibrant town just outside of the Mark Twain National Forest. This forest is home to popular trails like the Bell Mountain Trail, fishing areas, and campgrounds. You can also explore nearby areas like the Little Prairie Conservation Area, Maramec Spring Park, Indian Trail Conservation Area, and Dillard Mill State Historic Site.
Rolla is home to about 20,000 residents, where you’ll find the Missouri University of Science and Technology, giving the city a bustling atmosphere. The town is also home to several parks, venues, and museums like Ozark Rivers Audubon – Nature Center, Ber Juan Park, the Ozark Actors Theatre, and the Phelps County Historical Society. If you’re looking for small-town charm alongside nature, be sure to check out Rolla.
9. Springfield
Mountain range: Ozark Mountains
Average rent price: $1,559
Population: 167,700
Houses for rent in Springfield, MO
Apartments for rent in Springfield, MO
Homes for sale in Springfield, MO
Springfield is a bustling city surrounded by the natural beauty of the Ozark Mountains. With a population of over 167,000, Springfield offers a wide range of cultural, educational, and recreational activities. The city is known for its vibrant downtown area and unique attractions like the Pythian Castle, History Museum on the Square, the Discovery Center of Springfield, Route 66 Car Museum, and the World’s Largest Fork By Mass.
Springfield’s residents enjoy a variety of outdoor activities, including exploring the numerous parks and trails in the area. Some popular areas include the Fantastic Caverns, the Bois D’Arc Conservation Area, the Rutledge-Wilson Farm Park, the Nathanael Greene/Close Memorial Park, and the Valley Water Mill Park. If you’re looking for a big city that’s close to nature, then Springfield may be for you.
10. West Plains
Mountain range: Ozark Mountains
Average rent price: $625
Population: 12,110
Houses for rent in West Plains, MO
Apartments for rent in West Plains, MO
Homes for sale in West Plains, MO
West Plains is located in the Ozark Mountains and is known for its scenic beauty, with easy access to outdoor activities such as hiking, fishing, and hunting. It’s near popular locations like the Collins Ridge Trail, Cane Bluff, and White Ranch Conservation Area.
The town hosts a variety of cultural events and festivals, reflecting its rich heritage and community spirit. You can also find plenty of local restaurants, shops, and museums like the Harlin Museum. West Plains’ residents enjoy the benefits of rural living while having access to the amenities and conveniences of a larger town.
Note, this list is not comprehensive of all the mountain towns in Missouri. Towns must have average rental data to be included on the list. Average rental data from Rent.com during September 2024. Population data is sourced from the United States Census Bureau.
You might think that if you close a loan or credit card account it will no longer affect your credit report, but they can actually stay on your credit report for up to 10 years. During this time period, these accounts can help or hurt your credit score, depending on a number of factors.
Here’s what you should know about closing loan and credit card accounts from your credit report.
Key Points
• Closed credit accounts can stay on your credit report for up to 10 years, impacting your score.
• On-time payments on closed accounts positively affect your credit history.
• Late payments on closed accounts can negatively impact your credit history for seven to 10 years.
• Closing accounts can affect your credit utilization rate and credit mix, influencing your credit score.
• Removing closed accounts with poor payment history or fraudulent activity can build your credit profile.
How Closed Accounts Affect Your Credit
Closed credit accounts and loans can have varying effects on your credit, some positive and some negative, due to the factors that make up your credit rating. Here’s a closer look at three of those that are significant in this situation: your credit history, your credit utilization rate, and your credit mix.
Your Credit History
A closed account on which you made on-time payments will help your credit score by building your credit history. The effect will be less than if it were an open account, but it would be a positive factor nonetheless, since it shows that you can manage credit responsibly. However, if you made late payments on an account that is now closed, the negative impact may linger in your credit history for seven years and up to 10 years if you file for bankruptcy.
Longevity is a factor on your credit report. Credit scoring systems reward borrowers with a longer history of managing debt and repayment. That means that if you close an account and seven years pass, you’ll lose any benefit of having had that account. It won’t make a significant change, but it is another factor to be aware of.
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Your Credit Utilization Rate
Part of your credit rating is based on how much debt or credit you already have. Creditors look at your credit utilization ratio, which is how much credit you have available to you versus how much you actually use. The best case scenario is to not use more than 10% of your accessible credit; otherwise, no more than 30% is a good move.
Two examples:
• Say you have a $10,000 credit limit on your credit card, you might want to limit your balance to $1,000. That’s 10%.
• Otherwise, keeping your balance to no more than $3,000 would be 30%, the upper end of what’s considered a good credit utilization ratio.
If you close a loan or a credit card account, that might reduce the amount of credit available to you, which will increase your utilization rate. If you open a credit card or take out a loan, that will increase the amount of credit available to you, thereby decreasing your utilization rate.
Your Credit Mix
Credit scoring systems, such as the FICO® Score and VantageScore® look at the types of loans you have and how you manage them. These systems reward a mix of loan types, such as installment loans (auto loans and mortgages), and revolving accounts such as credit cards. Eliminating a credit card account or other type of loan (such as when it is closed and eventually drops off your report) could limit your credit mix, and that could negatively impact your credit score. Worth noting though: Credit mix counts for 10% of your score vs. 35% for your payment history (meaning, how successfully you make payments on time).
Why Do Closed Accounts Stay on Your Credit Report?
Both closed and open accounts can contribute to your credit rating as they stay on your credit report. That’s because the credit agencies can gain a fuller picture of your risk as a borrower the more information they have.
Monitoring and understanding your credit report (perhaps with a credit score monitoring app; your bank may offer this) is an important part of your financial wellness.
When to Remove a Closed Account from Your Credit Report
If possible, remove a closed account from your credit report if it has a poor payment history. Also, remove any accounts that are found to be fraudulent. If an account shows that you made regular, on-time payments, don’t remove it because it will be helping your score.
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How to Remove a Closed Account from Your Credit Report
A few factors affect your credit score; one of which is your credit history. As noted above, your credit history shows the loans and credit cards you have obtained in the past seven to 10 years, along with your repayment patterns. Even closed accounts are part of that narrative for the stated period of time.
That said, there may be a way to remove a closed account from your credit report, which you might want to do if it is having a negative effect. Here are some options.
1. File a Dispute if There Is an Error on Your Credit Report
It might be that you notice a fraudulent account when you check your credit report. If that is the case, you can remove the record by submitting a dispute in writing with each of the three credit bureaus (Equifax®, Experian®, and TransUnion®). You must include supporting documents. The bureaus will investigate your complaint and update your credit score if there is fraudulent data.
2. Contact the Creditor and Pursue a Goodwill Deletion
Another way to remove a closed account from your credit report is to directly contact the creditor that’s involved and ask them to remove the account from your credit report. (This is sometimes known as a goodwill letter or goodwill request.) The creditor will have to contact the credit bureau(s) directly to do so. You will be more successful if you have a positive credit history and relationship with the creditor.
3. Wait It Out
In time, a closed account will no longer be reflected on your credit report, but it might take seven to 10 years. The good news is that the accounts that stay the longest are usually ones that you closed in good standing, and these will positively influence your credit score.
Recommended: Why Did My Credit Score Drop After a Dispute?
What Does “Account Closed” Mean on a Credit Report?
“Account closed” on your credit report indicates an account that is no longer active. There can be several reasons for an account being closed.
• Perhaps it was an installment loan that you paid off.
• You might have opened a credit card account and then decided to close it (maybe you weren’t using it much).
• The creditor closed it, which could be positive (you paid off a loan) or negative (you weren’t paying your bills in a timely manner).
These are typical scenarios that lead to seeing “account closed” on your credit report.
How Long Will a Paid-off Account Take to Show up on Your Report?
Lenders usually update the credit report agencies with closed account information at the end of a billing cycle. Thus, it could take one or two months before a paid-off account is reflected on your credit report.
How Long Does a Closed Account Stay on My Credit Report?
As noted above, how long closed accounts stay on your credit report can vary.
• Accounts closed in good standing (paid on time and in full) can remain on your credit report for up to 10 years.
• Accounts closed due to nonpayment (these include collection accounts, some bankruptcies, and debt settlement) remain on your credit reports for seven years from the first missed payment or from being turned over to collections. The exception is Chapter 7 bankruptcy, which usually stays on your credit report for 10 years.
Practice Good Credit Habits Going Forward
Here’s advice that can help you manage existing credit card and loan accounts well.
• First, it’s always wise to take control of your budget. Whether you do that with the 50/30/20 budget rule or a financial tracking app, keeping on top of your income, your spending, and your saving can be a money-smart move.
• Check your credit score regularly to make sure there is no fraudulent activity. You might aim for an annual review.
• Extend your credit history as much as you can with accounts that are and have been in good standing. This means it’s probably in your best interest to occasionally use a credit card account and keep it in good shape vs. closing it because you don’t use it often. This can reduce your available credit and possibly lower your debt utilization ratio.
One good idea can be to use a credit card for predictable expenses, such as streaming services, and set up automatic payments. That way, you will be paying a set amount each month and building a positive credit history.
These moves can help you keep your financial profile in good shape.
The Takeaway
Closed credit accounts will stay with you for a long time, seven to 10 years usually. Keep accounts that you have owned for a long time open and in good standing whenever possible. If you have fraudulent accounts on your credit history or ones that were not managed well, you might take steps to have them removed and possibly build your credit profile. Keeping tabs on your credit score and your budget can be easy with the right tools, like those SoFi offers.
Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.
See exactly how your money comes and goes at a glance.
FAQ
Can I get closed accounts removed from my credit report?
You can remove a closed account from your credit report if you suspect it is fraudulent by filing a dispute with the three credit bureaus. You can also contact a creditor directly and ask them to remove a closed account. However, they are under no obligation to comply with this kind of request for a “goodwill” deletion. Alternatively, you can wait for seven to 10 years, after which closed accounts will fall off your credit history.
What is the 609 loophole?
The 609 loophole is a tactic that some people think will remove bad debt history from their credit reports. A section of the Fair Credit Reporting Act states that you can write a letter to gain documentation on what you may believe is an incorrect entry in your credit history. The 609 letter theory is that if a credit bureau cannot produce a piece of information, such as the original signed copy of your credit application, they have to remove the disputed item because it’s unverifiable. However, these steps are not the same as a dispute. Also, if you have legitimate debt, even without this documentation, the debt may remain. In other words, this process is unlikely to provide a shortcut to building your credit.
How long before a debt is uncollectible?
At which point a debt can no longer be collectible varies based on the type of debt and the state you live in. It is often between three and six years, but it could be as long as 20 years. After the statute of limitations that applies, a debt collector can no longer sue you for repayment, though some might still try to collect.
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Fall in Portland, Maine is a spectacular experience, filled with vibrant colors and a host of activities. September to October is the best time of year to enjoy the magic of fall in Portland, from the scenic coastal views to fun downtown festivities. Stroll through the charming streets of the Old Port, where you can explore local shops and enjoy seasonal treats at cozy cafes. Don’t miss the chance to visit nearby orchards for apple picking or take in breathtaking views on a scenic drive. With local festivals celebrating food, art, and community, there’s fall things to do in Portland, ME for everyone to enjoy.
Whether you’re searching for a house to rent in Portland, ME, an apartment to call home, or ready to purchase your first home in the city, , this city has so much to offer. Let’s explore 15 fall things to do in Portland, ME, where pops of color and cozy vibes create the perfect backdrop for autumn and give you a taste of why Portland is a good place to live.
1. Pop some tags at the local thrift shops
The community around thrift and vintage shopping in Portland is eclectic and supportive, hosting regular events like swap meets and pop-up markets. Whether you’re hunting for a vintage vinyl record, mid-century furniture, or stand-out fashion statements, you’ll be sure to find something unique at one of Portland’s thrift stores.
“One of my favorite things about Portland is the amount of thrift and vintage shops we have,” shares local photographer Shado of Shado of a Rose Photography. “All within a 10-minute walk you could get incredible vinyl at Moody Lords, find that new sweater you need for fall at Material Objects, or pick up a retro video game/movie poster from Electric Buddhas.”
And, if you’ve worked up an appetite while thrifting, Shado has you covered. ”If you’re in the mood for some food just pop over to Exchange street a few blocks away. Whether you’re getting incredible chicken from Crispy Gai, eating $1 oysters on a Wednesday night at Blyth and Burrows, or having dessert at Gorgeous Gelato, you really can’t go wrong when going out in the Old Port.”
2. Admire the fall foliage in Portland
Whether you’re walking, biking, or simply taking a drive, enjoying the fall foliage in and around Portland is a perfect way to experience the changing of the seasons. The contrast of the colorful foliage with the historic architecture and coastal scenery creates a picturesque setting that feels like a scene from a postcard.
Fall colors around town
“This small East Coast city, with its cozy New England town feel, offers a little bit of something for those wanting to feel at home or someone seeking a temporary home base to do some leaf-peeping in Maine during the fall season,” describes local Portland author Marpheen Chann.
One of the best ways to experience the fall foliage in Portland is by exploring the many parks and waterfront areas. “A walk or bike ride on smooth trails can take you around Back Cove, where you can get a quality photo of Downtown Portland from across the water at Payson Park. Continue your day at Portland’s Eastern Promenade, the perfect place for a picnic with scenic views of Casco Bay and its islands,” Chann shares.
Catch a train
You can also relax into a scenic tour of the fall foliage by hopping on the Maine Narrow Gauge. “From your comfortable seat on the historic train, take in the dazzling colors of autumn, set against the backdrop of Casco Bay. You’ll hear all about Portland’s history and learn about local landmarks from onboard narration,” describes Matt Levy, general manager of the Maine Narrow Gauge Railroad. You can also get special Pumpkin Train tickets for the last two weeks of October, and continue the fun into the holiday season with a Polar Express themed train ride.
Finish the day
Hungry after a day of exploring fall in Portland? “Experience some of Portland’s iconic and diverse restaurants without the summer crowds with Cambodian-Chinese eats at Oun Lidos on Market Street,” recommends Chann. “If you’re looking for a good spot for a drink or a casual date, pickup where you left off with a friend or a book at Novel on Congress Street or snag some downtown views high up at the Top of the East on High Street.”
Whether you’re walking around town or getting into the countryside, experiencing the fall colors in Portland is an autumn must-do – finished off with great food, of course.
3. Wander the picturesque streets of Portland
“Portland in the Fall is magical,” gushes Adria Moynihan Rusk, a painter at Still Life Studio in Portland. “You’ll skip the rush of summer tourists while being here at the most picturesque time of year. Check out the Old Port and Bayside neighborhoods to find a unique selection of local shops and breweries.”
Old Port
Portland’s neighborhoods offer a mix of maritime heritage and urban appeal, inviting you to spend your autumn days wandering their streets. “Fall is a perfect time to explore Portland,” agrees Sierra Bisson, author of the travel blog The Ocean Drifter. “Walk around the cobblestone streets of the Old Port, where you’ll find great shopping and amazing restaurants.”
Charming lanes and narrow alleys wind through the Old Port, where brick buildings house eclectic shops, art galleries, and cozy restaurants. “When you’re in the area, make sure to stop by must-try spots like Duckfat and Taco Escobarr,” Bisson continues. “If you’re in the mood for some nightlife, swing by Bonfire for a fun evening with a great atmosphere and drinks.”
The Waterfront
If you’re looking for places to stop by on your stroll, Rusk is full of suggestions. “Grab a latte at Bard Coffee and walk down Commercial Street to people-watch along the waterfront,” she shares. “Take the fairy out to Peak’s Island and back, and then head to Washington Avenue for a hot bowl of Pho Ga at Cong Tu Bot. Don’t forget to try the potato donuts at the Holy Donut.”
To finish off your day of exploring Portland in the fall, Rusk recommends, “Find a park bench on the East End promenade and watch the boat traffic skip across Casco Bay. It’s hard to do it wrong, so make an adventure of it.”
4. Warm your insides with local beer tasting
Portland, ME’s craft beer scene is renowned for its creativity, quality, and variety, making it one of the top destinations for beer lovers in the country. The city boasts a high concentration of breweries, from long standing favorites like Allagash Brewing Company to newer, experimental breweries like Bissell Brothers. Many breweries are located in Portland’s industrial areas and waterfront, offering taprooms where guests can sample a range of styles, from hoppy IPAs and smooth stouts to crisp lagers and sour ales.
“You absolutely have to check out at least one of the local breweries – Portland is known for its craft beer scene,” confirms Bisson of The Ocean Drifter blog.
Must-visit breweries
“Fall in Portland isn’t complete without attending Oktoberfest at one, or more, of the city’s great breweries,” seconds local tech expert and beverage connoisseur Dan DeSimone. “I especially like Belleflower, which is walking distance from a number of other breweries like Austin Street and Rising Tide. Tandem Coffee is right down the street too if you’re in the mood for a latte break (pumpkin spice optional) between beers.”
The East Bayside is another area that is renowned for its breweries, with local chocolate shop Dean’s Sweets offering the perfect neighborhood map to plan out your day of beverage sampling. “The East Bayside is one of the fastest-changing neighborhoods in Portland, ME,” reveals Kristin from Dean’s Sweets. “There are spirit makers, food trucks, hard seltzer, and cider right alongside the many breweries and wineries. And of course, chocolate at Dean’s Sweets, for those who want a gift for others or a nibble for yourself,” she laughs.
Join a beer tour for a unique beer-tasting experience
For a fun way to spend fall in Portland and sample the craft beer scene, consider a beer tour. “Join the Maine Brews Cruise for a cozy, festive journey through Maine’s craft alcohol scene amidst the backdrop of stunning fall foliage,” shares the Maine Brews Cruise team.
With options of a guided walk through the streets of Portland or having your own designated driver on a tour bus, the Maine Brews Cruise is perfect for those who enjoy a snug atmosphere while exploring local breweries, distilleries, and wineries. “With expert guides and a warm setting, you can learn, taste, and toast to the season – flannel attire recommended for the full autumn experience,” says the team.
You can also embrace Portland’s coastal vibe with a beer and boat tour through SeaPortland. “For those eager to experience Portland’s crisp fall beauty and rich history, SeaPortland provides exclusive tours that combine sightseeing with local brew tastings,” describes the crew. “You can explore historic Fort Scammel or enjoy a Harbor Cruise, where the vibrant fall colors enhance the flavor of each locally brewed beer. These 90-minute tours promise a blend of good vibes and spectacular sights, ideal for anyone looking to savor the season.”
However you prefer to indulge in the local craft beer scene, the city’s community-focused beer culture is a great fall thing to do in Portland.
5. Get outside into Portland’s local landscape
Portland is a mix of coastal beauty and historic urban charm. Located on a peninsula overlooking Casco Bay, the city’s waterfront features working harbors, marinas, and scenic parks like the Eastern Promenade. In the fall, the vibrant foliage adds to the town’s allure, making outdoor exploration a must.
See the scenery
“Visiting Portland in the fall is many people’s highlight of the year,” states Nick Robinson of Portland Schooner Co. “For a nature experience in town, try the walking trails at the Evergreen Cemetery where you can catch migrating birds in the trees, turtles and other amphibians in the ponds, and an array of tree species lighting up the landscape with their vibrant colors.”
You can also get a new perspective of Portland’s scenery via a historic wooden schooner, sailing your way around Casco Bay on the Maine-built boat through the Portland Schooner Co. “Don’t forget your hat, sunglasses, and cozy layers,” reminds Robinson.
Enjoy your dining outdoors
“Autumn in Portland is my favorite time of year,” confesses Chelsea K Ray, a wardrobe consultant and blogger based in the city. “Breakfast right on Casco Bay at the Porthole is a must. Walk off your lobster Benedict with a stroll along the East End Trail, and don’t forget to dip your toes in the ocean at East End Beach.”
Ray recommends doing some shopping at Mexicali Blues and Ports of Call on Commercial Street before enjoying fresh seafood at DiMillos, a floating restaurant that features beautiful waterfront views. “Wrap your day up with a cocktail at the Commercial Street Pub,” encourages Kay, noting that the pub is a true local’s spot where you can share your day’s adventures with other patrons.
6. Celebrate the season with Harvest on the Harbor
Since its inception in 2007, Harvest on the Harbor has celebrated Portland’s outstanding culinary scene, showcasing the talents of local chefs, brewers, distillers, and food artisans. “This is the 16th year for Harvest on the Harbor, which draws attendees from around the world to savor the deliciousness of Maine,” shares the Harvest on the Harbor team.
Portland has earned the reputation as “The Foodiest Small Town in America,” and the festival nods to this title by highlighting Maine’s rich food and beverage culture.
“Harvest on the Harbor is a celebration of Maine-made spirits, Maine lobster, Maine oysters and Maine seafood,” confirms the team. “With four events in three days there is something for everyone, including the Maine OysterFest, From The Sea and the Maine Cocktail Classic.”
Held the last weekend of October, Harvest on the Harbor offers a fun fall outing and a tasty celebration of Maine’s local flavors and traditions.
7. Indulge in Portland’s fall flavors and festivities
Portland celebrates fall with festivals, outdoor markets, food, and events like the Portland Farmers’ Market, which overflows with fresh produce, baked goods, and seasonal flowers.
Local eats and treats
“Portland is simply vibrant in autumn,” affirms Jamie, author of the blog Travel Addict. “Whether you are tasting local beers at the Portland Beer Hub, hiking on Peaks Island, or tasting the freshest of seafood along the waterfront, it’s the perfect fall destination with something for everyone. The cuisine is top notch – with incredibly fresh seafood at Scales and exquisite flavors at Duck Fat.”
Seasonal favorites like cider donuts, craft pumpkin ales, and hearty farm-to-table dishes become staples at eateries across the city, making a food tour a perfect fall thing to do in Portland.
“Maine Day Ventures keeps you moving and learning while you eat and shop,” suggests Kristin of Dean’s Sweets. “The guide gives an insider’s behind-the-scenes taste of the most popular spots in the city. The tour includes generous portions of some Maine specialties, including lobster, blueberries, craft beer, and the always-loved Maine potato, along with some up-and-coming foodie trends.”
Fall activities
Other fun fall activities come recommended from the Harvest on the Harbor team, including visiting corn mazes, hiking, trying award-winning restaurants, shopping and gallery hopping.
“Every Friday, the City of Portland hosts a First Friday Art Walk with gallery openings,” says Harvest on the Harbor. “Performing arts opportunities include the Portland Symphony Orchestra, celebrating its 100th season with performances at a few area breweries and a pay-what-you-can Chamber Series.”
8. See the city by sea
Experience Portland by sea for stunning views of Casco Bay, its islands, and iconic lighthouses like Portland Head Light. Fall tours provide a quieter, more intimate experience, with crisp air and warm autumn sunlight reflecting off the water.
“If you’re looking to enjoy Maine’s autumn spectacle, Casco Bay Custom Charters offers cozy flannel-wrapped adventures aboard vintage vessels,” shares Dyland Suhr from Maine Tour Company. “Enjoy breathtaking views of the colorful coastline with a bottomless mimosa brunch or a sunset dinner prepared by a private chef. This is the perfect opportunity for private groups to make unforgettable leaf-peeping memories on the water.”
Charter a boat for an intimate and private experience, or take the ferry across the bay to Peaks Island for a day of strolling amongst the neighborhood’s fall colors.
“Catch the ferry at Casco Bay Lines,” recommends Kristin from Dean’s Sweets. “The 30-minute trip across the bay is fun all on its own. Get some sun and enjoy the sparkling water and cool air along the way. If you’re lucky, you may see a bald eagle or a harbor seal.”
9. Take a day for everyone to play
“A trip with loved ones to Portland wouldn’t be complete without a visit to the Children’s Museum & Theatre of Maine, the state’s most visited museum and top destination for play located at Thompson’s Point,” says Shultzie Fay Willows, a representative for the museum.
Kids can explore hands-on exhibits like water and air activities, an outdoor playground, and an indoor climbing structure. They can also enjoy cultural displays, aquarium tours, performances at the country’s oldest children’s theater, and creative activities in MakerSpace – all included.
To round out the fall weekend in Portland, Willows is full of all-ages recommendations. “Afterward, paint some pottery next door at Color Me Mine or explore the fascinating International Cryptozoology Museum,” she shares. “For lunch, stop by Bissell Brothers, savor a grilled cheese at Sacred Profane, or enjoy hot dogs and pierogi at Leisure Time. There is something for everyone to do, try, and explore.”
10. Journey to the countryside for a true fall farm experience
A 40-minute drive from Portland, Bowdoinham comes alive in autumn with apple picking, pumpkin patches, and hot cider. This rural town along the Kennebec River is known for its vibrant farming community and fall harvest season.
If you’re looking for beautiful colors, Stonecipher Farm is an organic farm brimming with bright veggies in the autumn months. “The ‘no-till’ approach to vegetable production means a highly organized field system, resulting in an outstanding aesthetic,” claims Ian Jerolmack from the farm. “Folks have said it looks like the king’s garden.”
When you’re done exploring the farm, head back into town and sample from many other local farms at various Bowdoinham fall festivals, where vendors line up with their fresh offerings and handmade crafts.
11. Bring Fido along for the adventure
Portland is known for being an exceptionally dog-friendly city, welcoming four-legged companions in many public spaces and businesses. Numerous restaurants and breweries have outdoor patios where dogs are welcomed with water bowls and treats. The city’s pet-friendly vibe extends to shops, where many local businesses allow well-behaved dogs.
“There are many restaurants and locations that are dog-friendly throughout the city, just make sure to check their pet policy and local leash laws to ensure you and your dog have a great and safe time enjoying Maine’s fall together,” advises Portland pet photographer Gina Soule.
“Enjoying Portland in the fall alongside your four-legged best friend gives you a taste of the very best of Maine,” Soule continues. “From having your dog join you for a stroll along the Eastern Prom, exploring Higgins beach together, to enjoying an adult beverage around a fire on the patio at Maine Craft Distilling, you can’t go wrong with any of the numerous dog-friendly locations Portland has to offer.”
12. Cozy up with a good book
Fall and books are the perfect pair, whether you’re curling up in a chair by a roaring fire or sipping on tea at a local cafe with a book in hand. “Portland has a rich and robust bookish culture, with tons of amazing bookshops throughout the city,” adds Ash Holland, local owner to The Lucky Fox Bookshop.
Local favorites include Sherman’s, which opened in 1896, residing as Maine’s oldest bookstore. Another is Longfellow’s, a classic book shop with the perk of having the occasional feline guest wandering the store, available to adopt if it happens to choose you.
But if you’re after a fun and unique bookshop experience, look no further than The Lucky Fox Bookshop. A traveling and online bookstore, The Lucky Fox is an independently-run business that hosts pop-up shops at hot spots around Portland, and centers their collection around LGBTQ themes, fantasy, and works from marginalized authors. “Check out the event page to see where we’ll be setting up shop this fall and winter; or, explore the online shop to snag your next great read,” advises Holland.
As the weather gets cooler, many bookstores also host special events like author signings, book clubs, and seasonal sales, making bookshop hopping a perfect fall activity for a day in Portland.
13. Prepare to be spooked at a haunted house
A visit to a haunted house perfectly captures the fall mood, blending eerie history with spooky entertainment as the days grow shorter and colder.
While there are multiple haunted houses you can explore around Portland, nothing quite beats The Annual Haunting at the Parsonsfield Seminary. Originally built in the 1800s, its 42 rooms transform into an epic spooky mansion for the ultimate Halloween experience. You’ll be led on a tour through the building’s four floors for a suspenseful storytelling show, guaranteed to give you some scares. Tours are offered only the last two weekends of October, and the seminary changes its act every year for a truly unique time.
While the Parsonsfield Seminary is located an hour out of Portland, it’s more than worth the trip. Make a weekend of it by staying nearby with Backcountry Excursions, where owner Cliff Krolick ensures you get the full fall experience cozying up in one of his yurts or cabins nestled within the woods.
14. Travel off the beaten path on an oyster tour of Portland
“If you’re an oyster lover visiting Portland, be sure to check out the Maine Oyster Trail,” recommends Trixie Betz, an oyster expert.
The Maine Oyster Trail, of which Portland is a major hub, offers activities like farm tours, boat tours, raw bars, shuck trucks, and even kayaking adventures, where you can see oyster farming up close and taste the product directly from the source. It’s a great fall activity that combines education, fresh seafood, and Maine’s scenic coastline.
“Fall is the best time to enjoy oysters, and what better place to do that than in Maine,” shares Betz. “Not only will you enjoy delicious Maine oysters and learn about the industry, you’ll earn prizes along the way.”
The Maine Oyster Tour includes an oyster passport you can use to keep track of the places you’ve visited; the more establishments you check into, the more prizes you earn. The farm-to-table approach of the experience gives you the unique opportunity for direct interaction with Maine’s oyster farms, making the Maine Oyster Trail a perfect fall thing to do in Portland.
15. Escape the chill with local nightlife
Portland’s nightlife changes with the seasons, especially in the fall when outdoor patios stay open with heaters and fire pits. Many places also host seasonal events, from Halloween-themed parties to fall harvest festivals that go into the night. Rising Tide Brewing Company and Oxbow Blending & Bottling have both indoor and outdoor spaces, and you can often find live music or food trucks.
For local music and laid-back vibes, check out the Flask Lounge for nightly live music, dancing, and up-and-coming DJs and bands. “Nestled in the heart of Portland, Flask Lounge is your favorite down-to-earth neighborhood bar,” affirms Flask Lounge owner Jessica Nolette. “Known for its unassuming charm and the city’s most affordable drinks, it truly feels like home.”
If dancing isn’t your thing, cozy up inside an intimate cocktail bar instead. The Portland Hunt + Alpine Club will serve you creative drinks in a sleek, Scandinavian-inspired space. For a warm and vintage vibe, Blyth & Burrows features a speakeasy-style experience, with handcrafted cocktails celebrating the maritime history of Portland.
Whether you’re in the mood for craft beers, live music, dancing the night away, or a more elegant evening, exploring the nightlife in Portland fall will leave you feeling warmer than you started.
Discovering fall things to do in Portland, Maine
There’s truly something special about fall in Portland, Maine. From festive farmers’ markets to cozy cafes and autumnal events, there’s something for everyone to enjoy. Whether you’re a lifelong resident or a first-time visitor, there are a plethora of fall things to do in Portland just waiting to be discovered. So bundle up, head out into the brisk air, and immerse yourself in all the fall fun this enchanting New England city has to offer.
A safari is a guided tour, usually in Africa, that can bring you up close to elephants, zebras, giraffes, lions, rhinos and more. Often, these adventures involve taking open-sided safari vehicles into nature and observing and photographing wild animals in their natural habitats. (Other safaris are for hunting; here, we’ll focus on the former.) If you’re planning your first safari, here are some tips.
1. Work with a travel agency that specializes in planning safaris
Even if you’re an avid traveler, safari planning is still best left to the professionals. By using a reputable safari planning travel agency like Yellow Zebra, Abercrombie & Kent or Timbuktu, you can get several benefits:
Guidance on when and where to go based on your wants and needs. Your safari planning expert will likely have relevant information on where to go based on weather, animal migrations and what you’re looking to get out of your safari. (For instance, if you want to see hordes of wildebeest in July, your safari adviser might guide you to a different destination than if you’re looking for rhino encounters.)
On-the-ground experience about accommodations. Some safari planners have visited the properties themselves or have colleagues who have, which helps give you a better idea of what to expect before you book a property.
Help arranging transport during the safari. Even after you have the property you’re staying at sorted out, depending on where you’re going on safari, you may benefit from help arranging transport. For instance, if you’re flying to the northern Serengeti for a safari, you’ll likely fly into Kilimanjaro International Airport, but after that you may need to take a few additional, smaller flights to get closer to your accommodation (and even once you land at the airstrip closer to your accommodation, you’ll likely need a guide to pick you up and take you to your final destination). If you use a travel agency, it can set up all the internal transportation for you — and you’ll be thankful it did.
Advice about side trips to complement your safari. Even if you’re interested only in going on safari, you may want to talk to your safari travel adviser about nearby non-safari destinations to check out. For instance, you can add on some beach time in Zanzibar after your Serengeti safari or if you’re going on safari in South Africa, you could consider a beach trip to Mozambique afterward.
🤓Nerdy Tip
If you have a friend or family member who booked a safari through a travel agency and enjoyed their experience, tell the safari agency that you’ve been referred and it will sometimes offer you a discount on your booking.
2. Buy and bring the right equipment
There might not be many stores near your safari accommodation, so you’ll want to make sure you buy and bring the right equipment with you. Here are some items that you might want to bring on your safari:
Binoculars. Bringing a good pair of binoculars (we recommend either 8x, 10x or 12x magnification) will enhance your travel experience so you can see animals that are farther away, see birds better and get a closer view of your safari experience. Note that some safari accommodations offer complimentary use of binoculars during guests’ stay, so you should check with your accommodations before purchasing binoculars.
Camera. Rather than relying on your smartphone, consider purchasing or renting a camera with a telephoto lens so you can capture animals from far away for the best safari pictures. If you’re new to photography, you may want to take a few photography classes or watch instructional videos so you’re prepared to get the best shots of the animals and landscape during your safari.
Clothes that are appropriate for your safari. In general, you want to wear natural colors that blend in with the environment. Blue and black can attract tsetse flies, and try to stay away from bright colors. Additionally, depending on where you’re going, temperatures can fluctuate from cold in the mornings to hot in the afternoons, so you may want to consider safari pants that can be unzipped at the knee and turned into shorts.
Sunscreen and a wide-brimmed hat. There are days where you might spend 10-plus hours on the road and you want to make sure your skin is protected. Bringing sunscreen with you and wearing a wide-brimmed hat on your journey can help to protect your skin.
Bug spray. To help prevent mosquito and other insect bites, consider bringing bug spray such as DDT. Before deciding which bug spray to pack, check with local regulations to see if any chemicals are banned in the country you’re visiting.
Bringing the right gear can enhance your safari experience.
3. Check to see whether the planes that you’re flying to your safari have weight or other restrictions for luggage
Depending on where you’re going on safari, you may be in small planes that have luggage requirements that you may not have had to follow for other trips. For instance, Coastal Aviation in Tanzania has the following luggage restrictions for light aircraft flights:
Weight allowance of 33 pounds (15 kilograms) per person, including hand luggage.
All luggage must be in soft bags (i.e., duffel bags).
🤓Nerdy Tip
If you’ll be away for a week or more, check with your safari accommodation to see if it offers laundry services, which can help you pack lighter.
4. Embrace the experience, and expect accommodations that may be outside of what you’re used to
While there are some more traditional hotel options you could book on safari — such as Four Seasons Safari Lodge Serengeti and the JW Marriott Masai Mara Lodge — you may find yourself booking a safari where the accommodations are more akin to camping (albeit higher-end camping) than a hotel.
For instance, Wayo Serengeti Green Camp in northern Tanzania is so close to the animals that you can find zebras outside your accommodations, and you can even take walking safaris, but the camp differs from typical hotels in many ways, including:
“Bucket showers” instead of typical showers. (A bucket shower is basically when the staff warms water up upon request and then fills a bucket outside of your tent that connects to the shower in your tent.)
No Wi-Fi or electrical plugs in your room, with Wi-Fi and charging only in the common area.
Set lunch and dinner times with no room service, although many camps will provide you with a bagged breakfast, lunch or dinner upon request.
You may need to be escorted to and from your tent at night to ensure your safety, including using a flashlight to alert the staff when you’re ready to be picked up from your room.
If you’re booking a safari camp instead of a hotel, you should embrace the experience so that you can fully enjoy the tranquility instead of focusing on how the camp differs from the type of hotel experience you might normally book.
5. Look into what shots, medicines and visas you may need for your trip
As soon as you can after booking your trip, you should look into whether you need any special shots, medicines or visas for your safari. For instance, you must have a yellow fever vaccination and certificate to enter Kenya, Uganda and the Republic of Congo. Additionally, Tanzania requires citizens of the United States to get a visa to enter the country (note that you can pay for the visa on arrival).
We recommend booking an appointment with your doctor or going to a travel clinic to discuss shots and medicine and using the U.S. Department of State’s website to learn about the visas you may need.
How to book a safari on points
Safaris can be expensive, and a great way to save money on your safari is to use points. There are a couple of ways that you can book a safari on points:
Book your flights using points. A round-trip ticket from Los Angeles to Kilimanjaro, Tanzania, from June 2 to June 16, 2025, currently costs $1,704 in cash or you could use 139,000 Flying Blue miles and pay $441.10 in fees for the same flights. American Express, Chase, Capital One and Citi all let you transfer points to Air France’s Flying Blue program.
Book your accommodation using points. You can use points to book your safari accommodation either by booking a hotel like the JW Marriott Masai Mara Lodge, which allows Marriott Bonvoy members to pay for the stay with points, or by paying for your lodging with a credit card that lets you use points to offset the total balance owed, like Chase’s Pay Yourself Back program.
Even if you’re only able to offset a portion of your safari using points, it can help reduce the overall cost of what could otherwise be an expensive adventure.
Minnesota, known as the “Land of 10,000 Lakes,” blends natural beauty and city life. If you’re considering a move to this northern state, it’s essential to weigh the pros and cons of living in Minnesota. So, is Minnesota a good place to live? Let’s explore what makes it appealing and some challenges residents face.
Is Minnesota a good place to live?
Life in Minnesota is characterized by its stunning landscapes, friendly communities, and a strong emphasis on outdoor activities. The largest cities, Minneapolis and St. Paul, also known as the Twin Cities, boast a thriving arts scene, diverse culinary options, and numerous cultural festivals throughout the year. Major employers include Target, U.S. Bancorp, and the Mayo Clinic, contributing to diverse job market.
For opportunities to explore the outdoors, Minnesota offers a wealth of activities year-round. In the summer, residents can explore the state’s 10,000 lakes, with opportunities for kayaking, fishing, and swimming. The extensive trail system in parks like the Boundary Waters and the Superior Hiking Trail attract hikers and campers from all over. Whether you’re drawn to the thriving job market, the rich arts scene, or the endless outdoor adventures, Minnesota has something for everyone.
Minnesota state overview
Population
5,706,494
Biggest cities in Minnesota
Minneapolis, Saint Paul, Rochester
Average rent in Minneapolis
$1,649
Average rent in Saint Paul
$1,311
Average rent in Rochester
$1,464
1. Pro: Abundant outdoor activities
Minnesota is a great place to explore. With its 10,000 lakes and numerous parks, you can enjoy various activities year-round. In the summer, fishing, swimming, and boating on lakes like Lake Minnetonka or Lake of the Isles are popular pastimes. As the seasons change, the state’s natural beauty transforms, offering excellent opportunities for hiking in the lush forests, biking on scenic trails, and enjoying the vibrant fall colors. When winter arrives, residents can embrace snowshoeing, ice fishing, and skiing in places like Afton Alps.
Travel tip: Don’t miss the Boundary Waters Canoe Area Wilderness. This stunning location has pristine lakes and incredible opportunities for canoeing, fishing, and camping, making it perfect for a weekend getaway.
2. Con: The winters can be harsh
While the snow-covered landscape can be beautiful, winters in Minnesota can be brutal, with temperatures often plunging below freezing and snow accumulating frequently. This extreme weather can impact daily life, making commuting a challenge and limiting outdoor activities for some. The subzero temperatures can lead to icy roads and increased heating costs, forcing residents to bundle up and invest in winter gear.
3. Pro: Minnesotans are friendly
Minnesotans are known for their friendliness and community spirit, which is evident in the many local events and gatherings throughout the year. Neighborhoods often come together for community events, farmers’ markets, and festivals that celebrate local culture and history. Volunteering is a common practice, and many residents engage in initiatives that support local charities and businesses.
Insider scoop: Attend the Minnesota State Fair in late August to early September, where you can sample iconic local foods, enjoy live music, and experience the best of Minnesota culture.
4. Con: There are plenty of potholes to avoid
One of the more frustrating aspects of living in Minnesota is the prevalence of potholes, particularly during the spring months. The state’s harsh winter weather, with its constant freeze-thaw cycles, takes a serious toll on the roads, leading to an abundance of potholes. These road hazards can make driving less enjoyable and potentially cause damage to vehicles, such as flat tires or misaligned suspensions. In some areas, it can feel like you’re constantly dodging potholes on your daily commute, which can be a significant inconvenience for residents.
5. Pro: Rich cultural scene
The Twin Cities are home to a variety of museums, theaters, and galleries, including the Walker Art Center and the Minneapolis Institute of Art. These institutions host a wide range of exhibits and performances, showcasing local and international artists. Additionally, events like the Minnesota State Fair and the Twin Cities Jazz Festival highlight the state’s rich arts and music scene, offering opportunities for residents to explore and enjoy diverse cultural experiences.
Insider scoop: Take advantage of the Minneapolis Institute of Art, which offers free admission to its extensive collection of art from around the world. This gem not only showcases local artists but also hosts rotating exhibitions.
6. Con: High income taxes
Minnesota has one of the higher tax burdens in the country, which can be a drawback for some residents. State income tax rates can reach as high as 9.85% for those in higher income brackets, and property taxes can also be notable, impacting overall affordability. While these taxes fund essential services like education, healthcare, and infrastructure, they can strain budgets.
7. Pro: Commitment to sustainability
Minnesota is known for its commitment to sustainability and environmental protection. Many cities, including Minneapolis and St. Paul, promote green living initiatives, encouraging residents to adopt eco-friendly practices such as recycling, composting, and using public transportation. The state has also invested in renewable energy sources, making significant strides toward reducing its carbon footprint. Residents often engage in community efforts to protect local ecosystems and support sustainable agriculture.
Insider scoop: If you’re looking to get involved locally, check out Minnesota’s Zero Waste Challenge or volunteer with organizations like Minnesota Water Stewards, where you can actively contribute to keeping the state’s water sources clean and promote conservation efforts in your community.
8. Con: Limited public transportation
While the Twin Cities have a light rail system and bus services, public transportation options in other areas can be limited. Many suburban and rural communities lack comprehensive transit systems, which can make owning a car necessary for getting around. This limitation may be challenging for those who rely on public transport or prefer a car-free lifestyle. As a result, residents may need to budget for a vehicle and associated costs, such as insurance and maintenance.
9. Pro: Relatively lower cost of living in the state
One of the appealing aspects of living in Minnesota is its relatively lower cost of living compared to many other states, particularly in the Midwest. While cities like Minneapolis and St. Paul have seen rising housing costs, they are still more affordable than other major metropolitan areas in the U.S. The average rental rate for a one-bedroom apartment in Minneapolis hovers around $1,400 per month, while in smaller cities like St. Cloud, it’s significantly lower, averaging around $875. This lower cost of living makes Minnesota a good place to live for those looking to stretch their budget.
10. Con: Beware of the ticks
Ticks are a common nuisance in Minnesota, especially during the warmer months from late spring through early fall. These small, parasitic insects thrive in the state’s wooded areas, grassy fields, and even along hiking trails. The risk of tick bites can be a concern, as some ticks carry diseases such as Lyme disease and anaplasmosis. While enjoying Minnesota’s beautiful landscapes, residents must remain vigilant about tick prevention, including wearing long sleeves, using insect repellent, and conducting thorough tick checks.