Mardi Gras, distinct cuisine, music and nightlife are some of the draws that keep The Big Easy a favorite travel destination for people throughout the world. But you’re not looking for a fun weekend with your friends, you want to call New Orleans home.
That means you’re looking for the best apartments in New Orleans in the best neighborhood that will meet the needs and demands of your lifestyle. As a true melting pot, you’ll be able to find what you’re looking for. Whether it’s an immersive Creole experience or a slice of Europe, New Orleans has various neighborhoods full of colorful characters and fascinating stories.
Where to live in New Orleans
Unlike tourists, you won’t miss out on the things that make New Orleans a truly unique and amazing place to live. The proud collection of neighborhoods dispersed throughout the city. No matter if you’ve always dreamed of living in the most popular areas or are ready to discover the hidden gems that aren’t so hidden to residents. Get ready to live and breathe the real New Orleans.
Who’s coming with you?
Which one neighborhood characteristic can you not live without?
What’s your idea of quality downtime?
Which of these best describes your current life stage?
Your personal style could be best described as:
Which of the following is most important to you in choosing an apartment?
Where to Live in New Orleans
Uptown
In Uptown, vibrant 19th-century residences dominate the streets, making it impossible not to fall in love with the gorgeous architecture. Though the quieter surroundings and views of the Mississippi River are enough to convince anyone to move to Uptown, there’s so much more to get to know about this area. If you need to live close to outdoor activity, Audubon Park and Audubon Zoo provide tons of options. The park has a two-mile walking and bike path and vast amounts of green space for picnics, a game of a catch or a relaxing day of sunbathing. The zoo has 2,000-plus animals and a water park. Living in Uptown also gives you a wealth of food choices, and any restaurant you walk into is a paradise for your taste buds.
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New Orleans East
Image Source: Willowbrook Apartments
New Orleans East is a massive area, sprawling with residential homes and has a far more suburban feel. Long ago, New Orleans East was nothing but marshland, which is why you’ll be able to enjoy the beauty and peace of the wetlands. Audubon Louisiana Nature Center has biking and walking trails that give families the opportunity to spot local wildlife and a planetarium! Take the boardwalk paths at the Bayou Sauvage National Wildlife Refuge to watch great blue herons and alligators. The area took a hit after Hurricane Katrina, but various economic development and community projects are in the works and the passionate community keeps residents current of all going on. A wonderful place for those looking for opportunities to make a difference in their community, New Orleans East welcomes you.
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French Quarter
The hotbed of activity in NOLA, the French Quarter is unlike any other neighborhood in the country. Historic, storied and extremely popular, The Quarter, as it’s referred to locally, is the heart of the city. Townhomes and cottages found in The Quarter have Creole- and Spanish-influenced architecture. The modest exteriors conceal decadent interiors and perfectly manicured courtyards awaiting renters inside. The world-famous Bourbon Street has apartments that provide amazing views of the city and the partying going on below. With a nightlife that lures so many residents and tourists, it has some of the best restaurants and bars, random gatherings and music as the nights go on. Nearby, the Audubon Aquarium has a must-see otter exhibit that kids and adults love.
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Algiers
Image Source: 629 Atlantic Ave
The neighborhood of Algiers has sat right on the Mississippi River for 300 years. Unconnected to New Orleans, it’s accessible by a bridge and Ferry. Commuting to other areas in the city is easy with the Algiers Ferry, which gives you beautiful views of the NOLA skyline before dropping you off in the Quarter or Central Business District. Music and art lovers will love Algiers, too. There’s the Algiers Folk Art and Blues Museum which holds a festival in the fall and the Jazz Walk of Fame. The neighborhood streets have studios where you can learn new crafts, like glass blowing. What truly defines Algiers is the quaintness of it all — the coffee shops, the ferry ride, the Victorian cottages and urban community parks. It feels like a village instead of a New Orleans neighborhood.
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Gentilly
Image Source: 555 Chamberlain Dr
Typically ignored by tourists, Gentilly has a number of delicious restaurants, great places to shop and history like other areas in the city. Perfect for families and people who don’t want the high energy of other neighborhoods, Gentilly offers the University of New Orleans where art exhibitions and concerts are held. There’s also the Hellenic Cultural Center, which holds a very popular New Orleans Greek Fest. For those in the know, Gentilly has one of the best Mardi Gras parties, Krewe of Dreux – a huge informal outdoor party and parade. Located about 3 miles away from the French Quarter, Gentilly is not as walkable as other areas. There are major avenues with buses, but a car is the main — and probably best — way to get around if you live in this neighborhood.
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Garden District
Moving to Garden District will put you on a street lined with oak trees, humming streetcars, apartments that look like mansions and actual mansions. Garden District is a historic neighborhood with the classic architecture of the city and plenty of eating and shopping options. Highly walkable, you can still take the St. Charles Avenue Streetcar which extends from downtown to Uptown and goes directly through the Garden District. Magazine Street is another win for those who move to Garden District. Brunch is on another level at some restaurants, where it’s available all day. More than a place to get food, Magazine Street is famous for the shopping it offers, too. Independent shops dominate, but with the crowd that lives near, chain stores are starting to expand their presence.
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Metairie
Metairie has earned the distinction of being one of America’s Best Cities without technically being a city. So, needless to say, people who live here really enjoy what Metairie offers, specifically Old Metairie. Old Metairie is surprisingly walkable. You can easily make your way to the bank, gym and coffee shop in about two blocks. A quick run to the grocery store without a car in the suburbs is pretty amazing. For families, the number of schools and parks offered is shocking. There are programs for infants, part-time moms, public, private and even gifted programs. A night out is always needed, and even still, Metairie delivers without residents needing to leave the city limits. You’ll find an amazing food scene and high-end retail shopping.
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River Ridge
Image Source: Sawmill Creek Apartments
Suburban charm meets city convenience in River Ridge, where a happy balance of both is a perk of living here. Living near the Mississippi gives you a lot to enjoy in this suburb, including the Mississippi River Trail, which spans 3,000 miles and 10 states. It also connects you to other surrounding suburbs and is a favorite local place to watch the sunset. Zeringue and LaSalle Park have more trails to enjoy. A top priority in this suburb is schools. River Ridge, LA, is in the Jefferson Parish School System, which is highly rated. Kids will enjoy schools that prepare them well for college and any other future they choose.
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Rebecca Green is a content editor and writer for RentPath. She enjoys interior design, dogs and can tell you where to find the best pizza in Brooklyn. You can see some of her other published work on Apartment Guide.
Looking for jobs where you work alone? If you’re an introvert or simply want minimal human interaction, here are 40 ideas.
Looking for the best jobs where you work alone? If you’re an introvert or simply want minimal human interaction, here are 40 ideas.
With there being so many different types of jobs out there nowadays, more and more people are looking for jobs where they can be by themselves, away from the busy office or customers. They find comfort in jobs where they can do tasks on their own, letting them really concentrate and do well in what they do best.
For me, I have worked mostly alone for over a decade now, and I wouldn’t change it for the world. I enjoy the flexibility of working on my own and having less stress.
Jobs that let you work this way are usually appealing to introverted individuals, those who like a calmer setting, or people who just work better with more independence.
Knowing which jobs let you work alone is really important for those who want to find the right mix of being on their own and getting things done well.
Top Jobs Where You Work Alone
There are 40 jobs where you can work alone listed below. If you want to skip the list, here are some jobs that you may want to start learning more about first:
Benefits of Jobs Where You Work Alone
More and more people are looking for jobs where they can work alone, and I get it! I have been working mostly alone for over a decade and I really love it.
After all, a person spends so much of their time working, so you might as well like what you’re doing. If you’re an introvert, or if you like working by yourself, there are jobs where you can do just that.
Some of the positives of working alone include:
Less stress if you’re an introvert – If you’re an introvert, then you may feel stress when working with other people, such as coworkers and customers.
Getting more stuff done in less time – Working alone may mean that you can complete your tasks faster because there are fewer distractions.
Having a more flexible schedule – Some jobs where you work on your own sometimes let you choose when you want to work, as long as you get the work done.
If you’re looking for jobs where you work alone, think about what you’re good at and what you enjoy (and also think about what you don’t like!).
40 Jobs Where You Work Alone
Below are 40 jobs where you can work on your own. The jobs below range from earning a part-time to a full-time income too.
1. Proofreader
Proofreaders check and edit written content for errors and inconsistencies, and this job requires strong attention to detail and excellent grammar skills.
If you’re good at paying close attention to details, then proofreading could be an ideal work-alone job for you.
Authors, website owners, and students often hire proofreaders to improve their work. There’s a high demand for proofreaders, and you can find jobs through many different platforms.
Even the most skilled writers can make mistakes in grammar, punctuation, and spelling. That’s why hiring a proofreader can be very helpful for pretty much anyone and everyone.
If you want to find online proofreading jobs, I recommend joining this free 76-minute workshop focused on proofreading. In this workshop, you’ll learn how to begin your own freelance proofreading business.
Recommended reading: 20 Best Online Proofreading Jobs For Beginners (Earn $40,000+ A Year).
2. Virtual Assistant
One of my first side jobs was as a virtual assistant and it was a fun and flexible way to earn income. While you do have a boss when you are a VA, a lot of the tasks that you do will require you to take charge and complete them by yourself in your own home.
A virtual assistant is someone who helps people with office tasks from a distance. This could be from your home or while you’re traveling. It might include things like replying to emails, setting up appointments, and managing social media accounts.
This job can pay you more than $50,000 each year.
If you want to find part-time or full-time virtual assistant jobs, I recommend joining the free workshop called “5 Steps To Become a Virtual Assistant“.
Recommended reading: Best Ways To Find Virtual Assistant Jobs
3. Bookkeeper
Bookkeepers are people who keep track of all the money-related things for businesses such as writing down sales, keeping a record of expenses, and making financial reports.
This is a job where you can work alone and a typical salary is $40,000+ each year. Plus, you’ll mainly be dealing with numbers and not people.
You can join the free workshop that focuses on finding virtual bookkeeping jobs and how to begin your own freelance bookkeeping business by signing up for free here.
Recommended reading: How To Find Online Bookkeeping Jobs
4. Blogger
Blogging is a great way to make money while working on your own. It’s one of the reasons I really enjoy it, haha! I get to work by myself, for myself, and I can pick the projects I want to work on.
As a blogger, you write content for others to read online. You get to choose what you want to write about as well as how you want to make money blogging because there are so many different options (like affiliate marketing or displaying ads).
You can begin a successful blog about a specific topic like finance, travel, lifestyle, family, and many others.
Blogging is my main source of income, and it has completely transformed my life. I have the freedom to travel whenever I want, set my schedule, and be my boss.
Since I began Making Sense of Cents, I’ve made more than $5,000,000 from my blog. I earned this money by working with companies through sponsored partnerships, affiliate marketing, display ads, and selling online courses.
Learn more at How To Start A Blog FREE Course.
5. Delivery Driver
Delivery drivers pick up and drop off packages. And, they get to work by themself most of the time as they are in the vehicle alone.
A delivery driver may drive a car, truck, or even a bike, depending on the company they work for. They don’t usually have a boss watching them all day nor have to deal with very many customers for long periods.
6. Book Reviewer
Book reviewers read books and share their thoughts in book reviews.
There are websites where you can get paid for sharing your thoughts about books and you may earn money through PayPal or a bank transfer, and sometimes you get to keep the book you reviewed.
They don’t just want positive reviews either, they want to know what you really think! You see, authors and publishers like to send out free copies of their books so that they can get honest opinions. Just like us, they know it’s helpful to read reviews before deciding if a book is worth the time.
Some sites that pay for book reviews include Online Book Club, Kirkus Media, and BookBrowse.
Recommended reading: 7 Best Ways To Get Paid To Read Books
7. Deliver RVs or Cars
You can earn money by traveling across the country and delivering vehicles for people and dealerships. Sometimes you’ll be towing the vehicle, and other times you’ll be driving it.
If you want a job with minimal human interaction, this can be a good one to look into as you are mostly by yourself. You simply pick up the vehicle, drive by yourself, and then drop it off.
For this job, you need to have a clean driving record. Those who do this type of work can earn around $300 to $400 (or much more!) for each vehicle they deliver. It depends on the distance they are traveling and what is being transported.
8. Digital or Graphic Designer
A graphic designer is someone who creates designs for others, such as people and businesses.
As a digital designer, you may be making things like images, printables, planners, t-shirt designs, calendars, business card designs, social media graphics, stickers, logos, and more.
Recommended reading: How To Make Money As A Digital Designer
9. Pet Sitter and Dog Walker
Pet sitters and dog walkers take care of pets while pet owners are away, such as on vacation or in the hospital. Some of the tasks include feeding, taking dogs for walks, and playing with them.
You might have pets come to your home or you can go to their owner’s place (this is something that is agreed upon beforehand). Dog walkers earn around $20 for every hour walking a dog. Looking after someone’s pet overnight can earn a person around $25-$100+ or even more each day.
I have personally paid a person to watch my dogs overnight in their home $100 a day. She was so wonderful too and my dogs loved her.
Now, with this job, you’re not working entirely alone, because you will be with pets. But, they can be great friends and companions!
Rover is a company you can sign up with and list your dog walking and pet sitting services.
10. House Cleaner
House cleaners make sure homes and businesses are nice and clean. They might work alone or with a small group. They can earn between $25 to $50 an hour for cleaning for others.
You can work for a cleaning company, but you’ll likely make more money if you have your own business.
Starting this kind of business isn’t expensive because you likely already have the cleaning supplies you need. You can advertise your services on Facebook, tell your friends and family, or make an account on Care.com.
11. Transcriptionist
An online transcriptionist’s main task is to listen to video or audio files and then type out everything that is being said, a process known as transcribing. The aim is to accurately write down what is heard, without any mistakes in spelling, grammar, or punctuation.
There are many different types of transcriptionists as well – legal, general, and medical transcriptionists.
This job requires strong typing and listening skills, and you can work from home all by yourself.
Online transcriptionists earn around $15 to $30 per hour on average, with new transcribers on the lower end of that.
A helpful free resource to take is FREE Workshop: Is a Career in Transcription Right for You? You’ll learn how to get started as a transcriptionist, how you can find transcription work, and more.
Recommended reading: 18 Best Online Transcription Jobs For Beginners To Make $2,000 Monthly
12. House Flipper
House flippers buy, renovate, and sell properties for a profit. This job involves managing renovation projects, and you can work alone or with a small crew.
House flipping is when someone buys a property at a lower price, fixes it up (like painting, redoing the kitchen, and improving the outside appearance), and then sells it for more money to make a profit. This is done to make a quick return on the investment.
Recommended reading: 10 Best Books on Flipping Houses To Make Money
13. Grocery Shopper
Grocery shoppers buy groceries for people like you and me, offering a helpful service for those who don’t have the time or can’t shop on their own. You’ll work on your own and talk to clients through an app on your phone.
One service you can easily sign up with to become a grocery shopper is Instacart. This is a popular site for people who want to make extra money by shopping for and delivering groceries.
Instacart shoppers make money from a mix of base pay, tips from customers, and sometimes bonuses or rewards (like for finishing orders during busy times).
You can sign up here to get started as a grocery shopper with Instacart.
Recommended reading: Instacart Shopper Review: How much do Instacart Shoppers earn?
14. Affiliate Marketer
Affiliate marketers share products or services with their followers for a commission. You do this by placing a referral link on your website, blog, or social media (like Instagram). When people use that link to buy something, you then get a commission.
For example, if you share a link to a book on Amazon and someone buys it through your link, you make some money. Companies like Amazon want people like you to help them sell things, so they’re happy to work with you as it helps them.
If you get someone to sign up through your special link, the company gives you a commission for telling others about their product. It’s like a little thank-you for your help!
This is one of my favorite jobs where you work alone from home, and what I do full-time!
Click here to get Affiliate Marketing Tips – Free eBook.
15. Flea Market Flipper
Flea market flippers find underpriced items at flea markets, yard sales, and thrift stores, then resell them for a profit. This job requires a good eye for valuable items and the ability to research market value.
Finding items to resell may be one of the best jobs to work alone on this list because we all have things in our house we could probably sell. Plus, there are always things that you can buy for a low price and possibly resell for a profit.
If you are looking for work-alone jobs, this is a great one to look further into.
I recommend signing up for this great webinar, Turn Your Passion For Visiting Thrift Stores, Yard Sales & Flea Markets Into A Profitable Reselling Business In As Little As 14 Days, that will help you learn how to make money by flipping items as well.
16. Sell Printables on Etsy
Creating and selling digital printables on Etsy is a great way to work independently and earn money.
Making printables can also be a pretty hands-off job since you only have to create one digital file for each product, and you can sell it as many times as you like. It’s quite affordable to start because you only need a laptop or computer and an internet connection.
Printables are digital items that customers can download and print at home. They can include things like bridal shower games, grocery shopping checklists, budget planners, invitations, printable quotes for wall art, and patterns.
I recommend signing up for Free Workshop: How To Earn Money Selling Printables. This free training will give you great ideas on what you can sell, how to get started, the costs, and how to make sales.
17. Mechanic
Mechanics diagnose and repair vehicles, working independently or in small shops. Strong problem-solving skills and knowledge of automotive systems are important.
Being a mechanic is a job where you often work on your own. While they might work in a garage with other mechanics, they often have their own tasks to do. They need to be really careful and pay close attention to make sure everything gets fixed just right.
18. Dog Treat Baker
Do you really like dogs? If you do, here’s a way to work mainly alone and make an extra $500 to $1,000 or even more each month.
You don’t need to know how to bake beforehand, because you can learn this skill. You can make special treats like cupcakes, cookies, cakes, and more, all for dogs.
You can sign up for this free training workshop that shows how to start a dog treat bakery.
You can learn more at How I Make $4,000 Per Month Baking Dog Treats (With Zero Baking Experience!).
19. Amazon Seller
Selling items on Amazon is a job where you work alone (mostly) and don’t have to deal with customers face-to-face.
Even if you’re new to selling on Amazon, you can make money by selling household goods, books, electronics, and more.
If you’re interested in learning about starting an Amazon business, you can join this free training that will teach you how to sell products on Amazon and make around $100 to $500+ each day.
20. Stock Photo Photographer
Stock photo photographers work on their own, and this job can be done without talking to anyone for the most part. Almost all of the tasks can be done with just a camera and then uploading photos on a site.
Stock image sites are some of the most popular ways for photographers to sell their pictures. These are sites where customers can buy pictures for websites, TV shows, books, social media accounts, and more. There are stock photos that I have purchased within this blog post that you can take a look at to see an example.
One great thing about stock photo sites is that they can be a great form of passive income. You can take pictures, upload them, and earn money from an older photo for months or even years in the future. There is no need to talk to anyone as everything is online and mostly automated.
Some stock photo websites include Shutterstock, iStock, DepositPhotos, and Dreamstime.
Recommended reading: 18 Ways You Can Get Paid To Take Pictures
21. Social Media Manager
Social media managers post on social media accounts for businesses and their goal is to bring in new customers and help a business grow.
Social media managers may post a picture or a video of a product or the company, join in a viral trend to get more views (such as on TikTok), answer common questions from customers, and more.
This includes social media platforms such as TikTok, Pinterest, Instagram, Twitter, and Facebook.
Salary can vary, and this job can be done part-time or full-time.
22. Landscaper
A landscaper improves and maintains outdoor areas, such as by taking care of the lawn, planting flowers, or even renovating a whole outdoor area (such as to make it more enjoyable to sit outside and have company).
If you’re interested in jobs where you work alone outside, this is one to consider as you will be outdoors and working on your own a lot. Customers may talk to you occasionally, but you are mostly by yourself.
Landscapers work at houses, apartment complexes, businesses, or somewhere else.
23. Data Entry Clerk
Data entry clerks enter, update, and check information in databases or spreadsheets. They type information such as numbers and names into computers to keep things organized and recorded.
This job can sometimes be done remotely and alone, with minimal supervision or interaction with customers.
Data entry jobs typically pay around $15-$20 an hour.
24. Editor
Editors review and improve written content for clients and they usually work on their own as most of their time is spent editing content.
Their job is to read articles, blog posts, advertising, books, and more to make them better. They fix any mistakes in grammar or spelling and help the words flow smoothly.
Editors typically earn anywhere from $40-$60+ an hour.
25. Freelance Writer
Freelance writers write content for clients, such as blog posts, advertising, and more. Freelance writing jobs where you work by yourself are common as you’ll be given a topic to write about from the client, and when you are done you may be given some feedback (such as paragraphs to improve or add to). But, that is usually as much human interaction as you’ll get if you want.
You can find different writing jobs on platforms like Upwork and Fiverr, or even find clients on your own.
I was a freelance writer for many years before switching to working full-time writing here on Making Sense of Cents. It is a great career path where you can work from home mostly by yourself.
Recommended reading: 14 Places To Find Freelance Writing Jobs – (Start With No Experience!)
26. Translator
Translators convert written content from one language to another, requiring fluency in at least two languages. Freelance and remote opportunities are available.
If you know another language, you might be able to find a work-from-home job where you can earn money by reading books and translating them. Another option is to get paid for proofreading or editing translated books to ensure they read smoothly and accurately.
There are lots of places you can find translation jobs, such as UpWork, Babelcube, Today Translations, Ulatus, Fiverr, and more.
27. Computer Programmer
Computer programmers write and maintain computer software, often working alone on projects.
They use coding to tell computers what to do and create all sorts of things like apps, games, and websites.
28. Canva Template Designer
Creating and selling Canva templates online allows you to work alone.
A Canva template is like a ready-made design that you can use for things like making posters, Pinterest pins, ebooks, or presentations. It’s like having a helpful starting point if you’re not super good at designing things from scratch. Canva templates come with empty spaces where you can put in your own words and pictures and you can also change colors and fonts to make them just how you like. They’re really helpful for people who want their things to look nice without spending a lot of time on it.
Making and selling Canva templates can be a great way to earn extra money as you only need to create them once, and then you can sell them as many times as you like.
Recommended reading: How I Make $2,000+ Monthly Selling Canva Templates
29. Voice Over Actor
A voice-over actor is the person whose voice you hear but don’t see in YouTube videos, radio ads, educational videos, and more.
Voice-over actors many times work right from their own homes!
Voice actors don’t need experience for this job (eventually, it does help, yes). Instead, they need to have a voice that the company is looking for.
Recommended reading: How To Become A Voice Over Actor And Work From Anywhere
30. Truck Driver
Truck drivers are people who move things from one place to another. To do this job, truck drivers need a commercial driver’s license (CDL). This job often involves working by yourself for long hours.
The salary for a truck driver can depend on things like what kind of items they’re moving and the miles they have to drive. Usually, they can make between $45,000 and $75,000 or even more in a year.
31. UPS Driver
UPS drivers deliver packages to people’s homes and businesses. They do this mostly on their own, in their trucks by themselves.
UPS drivers make a good income and they earn about $30-$45 per hour or even more, depending on how many years they have worked at UPS and where they work.
32. Security Guard
Security guards protect property and/or people, and they usually work alone.
A security guard’s salary depends on things like where they work, how long they’ve been doing the job, and what exactly they have to do. Usually, they can make between $25,000 and $35,000 in a year.
33. Self-Storage Facility Owner
Self-storage facilities are where people store their belongings, like boxes of their mementos, vehicles, RVs, and more.
Owning a self-storage business can be a way to make money and run a business with low expenses, plus they typically only have a couple of employees.
Many of the times when I’ve been to a self-storage lot, it’s been just the owner or an employee of theirs working. There are almost no customers either.
Recommended reading: How To Invest In Self-Storage For Beginners
34. Laundromat Owner
Similar to a self-storage business, a laundromat typically does not have very many employees.
Running a laundromat can be a way to make money, with low costs, as most things are automated (the washer and dryer machines do all of the washing).
Recommended reading: Are Laundromats Profitable? How Much Do Laundromats Make?
35. Get Paid To Text
When getting paid to text, you will many times be talking to someone else, but it is all done through text messages.
Some jobs may include:
Text Therapy or Coach
Answering questions, such as if you are a mechanic, doctor, lawyer, veterinarian, home expert, appraiser, computer expert
Customer support
Recommended reading: 28 Ways To Get Paid To Text And Make Money
36. Survey Taker
Taking online surveys and answering questions for focus groups is not a full-time job, but it can be a way to make some extra money.
You share your thoughts and answer straightforward questions, and in return, you can receive cash or rewards such as Amazon gift cards.
The survey companies I recommend signing up for and the best-paying survey sites include:
American Consumer Opinion
Survey Junkie
Swagbucks
InboxDollars
Branded Surveys
Pinecone Research
Prize Rebel
User Interviews – These are the highest paying surveys with the average being around $60.
Recommended reading: 18 Best Paid Survey Sites To Make $100+ Per Month
37. Twitch Streamer
Twitch is a site where you can make money playing video games, talking online in a live stream, and more. A streamer may be able to make money from their own home and all alone. Yes, they do need to be live recording their life, but they are their own boss.
There are many ways to make money on Twitch such as with paid subscriptions, display ads, selling merchandise (like t-shirts and mugs), and more.
Some of the most successful Twitch streamers make hundreds of thousands or even millions of dollars each year, but, it’s important to know that most don’t earn much at all.
Recommended reading: How Much Do Twitch Streamers Make?
38. Litter Cleanup Worker
If you own a business, it’s important to keep your place clean and tidy. Nobody likes to see trash lying around, right?
That’s why some business owners are happy to pay for someone to clean up before their business opens for the day. A clean area makes the place look nice and welcoming for customers.
This business can be started all alone and earnings on average are about $30 to $50 for every hour you work. It’s pretty simple too. You’ll just need a broom, a dustpan, and some tools to help you pick up litter easily. It’s almost like taking a stroll while you work! Plus, you can choose when you want to do it, so it can fit nicely into your schedule.
Recommended reading: How I Started A $650,000 Per Year Litter Cleanup Business
39. Google Rater
A Search Engine Evaluator, also known as a Google Rater, is a person who looks at websites and blogs and gives them a score based on how good and helpful they are for Google.
You don’t need to be a tech expert or have a fancy background for this job. Google actually wants regular people, just like you, to rate websites. Plus, you can do this in your own language. Google works in lots of different countries, so you can help out right from where you are.
Recommended reading: How To Become a Search Engine Evaluator
40. Actuary
An actuary is a financial expert who helps businesses figure out and manage their money-related risks, such as for insurance, pensions, and investments.
They use mathematics and statistics to forecast what might happen and help companies make smarter financial decisions.
Actuaries can earn a good salary, and as they get more experience and pass more exams, they can make even more money. Depending on where they work and how experienced they are, actuaries earn average salaries of anywhere between $70,000 to well over $100,000 each year.
Frequently Asked Questions About Jobs Where You Work Alone
Here are answers to common questions about finding jobs where you work alone.
What are jobs with no interaction?What jobs allow me to work by myself?
Yes, there are jobs where you don’t need to talk to people a lot. For example, being a night shift security guard, a transcriptionist, or a stock photo photographer.
How can I work alone from home?
There are jobs where you can work alone at home such as being a blogger, a transcriptionist, or a computer programmer.
What are jobs where you work alone with no degree?
Many jobs don’t require bachelor’s or master’s degrees (a high school diploma will work for many on the list above) and offer the opportunity to work independently. Mowing lawns, painting houses, repairing cars, or walking dogs often don’t require formal education and focus more on skills and experience.
Which part-time jobs are best suited for solitary workers?
Many of the jobs in this blog post can be done part-time, such as any of the freelance jobs, house cleaning, dog walking, and taking surveys. That is one of the joys of many of the jobs above – you can choose your schedule.
What trade jobs can one perform independently?
Trade jobs that you can perform independently include carpentry, welding, or plumbing. These professions usually require specific skills or certifications but may offer opportunities to work alone.
Are there any tech jobs ideal for people who prefer to work alone?
Yes, there are tech jobs that can work well for people who want to work on their own such as web developers, software engineers, or data analysts. These roles usually involve solving problems and working independently, though there might be some instances where collaboration is needed from time to time.
What jobs can be done in isolation with no experience required?
Jobs such as house cleaning, taking surveys, and flea market flipping can be good places to start for entry-level jobs.
How can I find work-alone job opportunities near me?
To find work-alone job opportunities near you, try perusing local job boards, classified ads, or online sites like Indeed or LinkedIn. You can also network with people in your community or join online forums related to your interests to find jobs.
Jobs Where You Work Alone – Summary
I hope you enjoyed this article on jobs where you work alone.
These jobs are like a safe space for people who like being by themselves. It’s a place where you can really concentrate and do your own thing with low social interaction. Jobs where you work alone often appeal to introverts and individuals who require fewer distractions.
Jobs like writing, coding, and freelancing let you work on your own. Not everyone may like working alone, but for those who do, it can be a lot less stressful and overwhelming.
I have been working mostly on my own for years now, and I really love it!
Through our consumption of modern media over the years, we’ve had a picture of urban and suburban life painted for us. We’ve witnessed Carrie Bradshaw run through the busy streets of New York City, growing her career and attending social events. We’ve also watched The Simpsons, living as a family in Springfield, with the youngest kids going to school and enjoying the neighborhood life.
While drastically different in plot and purpose, shows like these have influenced the way we view urban vs. suburban vs. rural life. When it comes time to actually decide where to move and which type of area suits your lifestyle, it’s tricky to navigate through your own influences and opinions. We’ve broken down 11 tale-tell signs, saying and truths that can help you navigate the difference and work through your own natural biases about urban vs. suburban living.
Urban, by definition
Urban areas, also known as cities or metropolitan areas, are densely populated regions characterized by high human activity and development. Urban areas are typically the centers of economic, cultural and social activities.
They are also known for their higher population densities, taller buildings, extensive public transportation systems and greater access to amenities. They offer a wide range of job opportunities and cultural attractions, making them hubs of economic and social life.
City examples:
Suburban, by definition
Suburban areas are typically located on the outskirts of larger cities or urban centers. These areas often have lower population densities compared to urban areas, with a greater emphasis on single-family homes, larger yards and local green spaces. Suburbs are known for their relatively quiet and less crowded environment compared to urban centers. People who live in the suburbs often commute to work in the nearby city.
Suburb examples of the above cities:
Urban vs. suburban: 11 giveaways that will tell the difference
Suburban and urban life are very different. And there are some over-arching themes, traits and signs related to each that amplify just how different these areas are. Think you’ll be able to tell the difference? Try to guess what kind of area the person in these scenarios lives in.
1. You can’t remember the last time you had to use your car.
Answer:Urban. One of the benefits of city living is the walkability and access to alternative transportation options. People living in urban areas often rely on railways, trains, cabs, bikes, Ubers and walking shoes to get where they need to go in their day-to-day lives. Cars are unnecessary in these areas and some city residents don’t even own cars.
2. Local businesses are within walking distance to your place.
Answer: Urban, again. Between bodegas, family-owned coffee shops and thrift shops, local businesses are on almost every corner in city areas. The convenience provided by the walkability to all of these types of businesses is a huge draw for potential city residents.
3. You’ve driven an hour or more to a play, but you have the movie theater right around the corner.
Answer: Suburban. Suburban areas, while they may not have a wide variety of entertainment options, typically have chain stores, a handful of local shops, movie theatres, restaurants and parks. To experience larger excursions, like a play or concert, you most likely will have to commute to the nearest city.
4. It’s almost too quiet when you go to sleep at night.
Answer: Suburban. A huge difference between suburbia and urban areas is the noise. Suburban areas wind down as the sun sets, creating a quiet atmosphere for sleep. The most noise suburban residents hear is the buzz of cicadas or weather-related sounds.
5. Getting late-night food a routine staple.
Answer:Urban. Cities notoriously never sleep. Bodegas, food trucks and convenience stores stay open late to specifically cater to this mindset. Whether you’re craving a snack while watching a movie or worked late and need to grab dinner, urban areas ensure your snack venture is quick and easy.
6. Traffic sounds are almost white noise to you.
Answer:While this seems like it could be both, it’s urban. Suburban areas often involve residents commuting to work, meaning sitting in traffic. However, urban areas have traffic noises 24/7, creating a constant background hum of city life.
7. Waze is your most used app.
Answer:Suburban. As touched on before, suburban residents often commute to the nearest city for their jobs every day. This means calculating traffic, taking less congested routes and anticipating fluctuating commute times. Waze, a popular navigation app, is perfect for planning around traffic and getting where you need to go, in as little time as possible.
8. You’re genuinely surprised when you hear a car horn honk, and it’s usually followed by an apology wave.
Answer:Suburban, for sure. City life is absolutely more fast-paced than suburban life. This can influence tempers and patience levels whereas in a slower-paced suburban atmosphere, there’s less rush, more patience and certainly less defensive driving. Meaning suburban residents have little reason to ever use their car horns.
9. Boutique shops are a bit out of reach, but you can count the strip malls within a 5-minute commute to your house.
Answer: You guessed it, suburban. Suburban areas have access to amenities though these are typically chain stores with a few boutiques sprinkled in. Due to the ability to place large businesses that take up more square footage, like strip and outlet malls, residents of suburban areas are sure to find themselves shopping at such stores.
10. You ride the elevator with the same people and have never said more than a few words, if any.
Answer:Urban. We’re all familiar with the term “southern hospitality” and while suburban areas aren’t always southern, they’re friendlier. The fast-paced atmosphere of urban areas doesn’t lend itself to too many unplanned conversations, as people always have places to go and things to do.
11. You can Tetris almost anything in your place.
Answer: Urban, yet again. The packed nature of cities means less square footage in your apartment or rental property. This causes residents to get creative and perfect the practice of playing Tetris with their belongings, furniture and everything else in between.
Urban vs. suburban: not exactly a battle
Both of these lifestyles have a lot to offer their residents, it boils down to personal preference and priorities. Remember, no moving decision you ever make is permanent and it’s worth it to experience what both areas have to offer to truly appreciate the diversity of lifestyles and opportunities available.
Exploring both urban and suburban living can provide insights and enrich your life in unexpected ways. Still in the market for that perfect place, in suburbia or the city? Start and end your search with our list of apartments for rent.
Wesley is a Charlotte-based writer with a degree in Mass Communication from the University of South Carolina. Her background includes 6 years in non-profit communication and 4 years in editorial writing. She’s passionate about traveling, volunteering, cooking and drinking her morning iced coffee. When she’s not writing, you can find her relaxing with family or exploring Charlotte with her friends.
Nearly $100 billion in option arms are expected to reset in the next two years, with more than half early recasts, a new report released today by Fitch Ratings revealed.
Fitch expects about $29 billion to recast to significantly higher monthly mortgage payments in 2009 and another $67 billion to follow that in 2010.
While some of the loans may be naturally recasting after their initial teaser rate expires, $53 billion of the loans will be doing so because they reached their negative amortization cap, typically set at 110-115 percent of the original loan amount.
An early recast usually takes place if the borrower chooses to make only the minimum payment option each month, which is generally a one percent payment, a deep discount to the fully indexed rate.
To add insult to injury, home price depreciation will put the negative amortization borrower in an even greater hole, surely making many ponder simply walking away.
The only saving grace is the fact that the MTA, the index tied to many of these loans, is just 2.855 percent, down about two percent from a year earlier.
When combined with a standard margin of say 2.50 percent, the fully indexed rate sits below six percent, though Fitch estimates the average payment increase on recasting loans to be 63 percent, or an average increase of $1,053 a month.
“The combined impact of payment shock, negative amortization, declining home prices and restricted availability of mortgage credit may leave many option ARMs’ borrowers unwilling to continue paying their mortgage,” said U.S. RMBS group head Huxley Somerville.
“Also, because of their use as an affordability product, option ARM defaults will likely spread into higher priced neighborhoods, as many borrowers leveraged the very low minimum monthly payment to buy more expensive homes.”
Fitch sees the 90-day plus delinquency rate of 2004-2007 vintage option arm loans more than doubling the current delinquency rate, which ranges between 10 and 24 percent.
Known as the Village of Plainfield, Plainfield, IL, is a thriving community that offers a perfect blend of small-town charm and modern amenities. Nestled in the scenic beauty of the Prairie State, Plainfield boasts a rich history, a welcoming atmosphere, and plenty to do around town. From endless outdoor recreation opportunities to the city’s love of art, you’re sure to find something to love.
But what is Plainfield, IL, known for? If you’re looking at homes for sale in Plainfield or are just curious about what the city has to offer, this Redfin guide has everything you need to know. To give you a taste, read on for 10things to love about Plainfield.
1. Historic downtown
Plainfield’s historic downtown is a true gem that is listed on the National Register of Historic Places. Upgraded in 2009, the city center is a pedestrian-focused haven lined with vintage storefronts, trees, and small-town charm. Visitors and residents alike can explore boutique shops, antique stores, and art galleries. Local cafes and restaurants offer delicious fare, and the area often hosts community events, including farmers’ markets, parades, and live music performances from local bands.
2. Parks and recreation
Plainfield takes pride in its abundant green spaces. With over 80 parks and miles of trails, residents have ample opportunities for outdoor activities.
The most popular park is Settler’s Park, which features a splash pad for kids, picnic areas, trails, and hosts numerous community events throughout the year, including concerts and outdoor movies. Commissioners Park, Van Horn Woods, and Four Seasons Park are other hotspots that host ice rinks, sports fields, forests, and large open spaces for relaxation.
The city is also home to numerous nature preserves, such as the Prairie Bluff Reserve, which is home to over 3 miles of trails for cycling, skiing, and more. Other preserves include the Rock Run Preserve, Eaton Preserve, and Riverview Farmstead Preserve, which all serve important roles in protecting local biodiversity.
3. Lake Renwick Preserve
The largest and most famous natural landmark in the Plainfield area is the Lake Renwick Preserve, which is part of the Lily Cache Creek preservation system. This scenic gem features a 200 acre lake with structures designed to provide nesting homes for birds. The preserve is home to the largest protected nesting location of herons in Illinois, although public viewing is limited during nesting season. Additionally, cycling and fishing are only allowed in certain areas.
There are three ways to access the preserve: through Copley Nature Park, Heron rookery Nature Preserve, or Turtle Lake. Unfortunately, only a few hundred feet from the preserve is a sand and gravel mine, which may impact the local wildlife.
4. The DuPage River
The DuPage River runs through Plainfield, offering picturesque riverfront areas for relaxation and recreation. Fishing, kayaking, and serene waterfront walks are just a few ways to enjoy the natural beauty of the river. The city also recently adopted a Riverfront Master Plan, which aims to further highlight the DuPage River with overlooks, improved shoreline management, and recreation space.
There are numerous trails that follow the river and connect different parks around the city. For example, the 30+ mile Dupage River Trail follows the river through most of Plainfield before heading north to Naperville and south to Shorewood. The trail connects Mather Woods, Renwick Park, Settlers’ Park, and Eaton Preserve. Other trails around the city also follow the river, although they may be disconnected.
5. Historical landmarks
Plainfield boasts a rich history, and several historical landmarks showcase its past. The Naper Settlement offers a glimpse into the region’s history, while the historic Barber House serves as a testament to the town’s architectural heritage. Additionally, the area is home to a historic gas station, a Civil War enlistment center, and an opera house that was originally a church and town hall.
6. Lewis University
Founded in 1932 just 20 miles outside of Plainfield, Lewis University has a rich history of academic excellence and community engagement. Inspired by its Catholic and Lasallian heritage, the university is known for its diverse range of undergraduate and graduate programs, covering fields such as business, aviation, religion, education, healthcare, and the arts.
One of the standout features of Lewis University is its commitment to innovation and technology. The university’s aviation program, for example, is renowned for its state-of-the-art flight simulation facilities and providing students with hands-on experience in aeronautics. The university offers undergraduate and graduate programs, including air traffic control management, aviation maintenance, and unmanned aircraft systems.
The Plainfield Historic Preservation Commission recently created a self-guided walking tour that showcases the area’s history and highlights local architecture and businesses. The tour includes 53 historic properties around the town.
7. Annual events
The town comes alive with a variety of annual festivals and events year-round. Yearly favorites include the seasonal Farmers Market, Irish Parade, Harvest 5k, and Homecoming Parade, which celebrates the new school year and welcoming alumni back to the area. Holiday celebrations are also popular in Plainfield, such as Spooktacular and The Heart of Christmas.
No matter who you are or what you celebrate, you’re sure to find a community event to help you feel at home.
8. Proximity to Chicago
Plainfield’s proximity to Chicago is one of its standout features. Located just 35 miles southwest of downtown Chicago, Plainfield offers residents the best of both worlds – a serene suburban lifestyle with easy access to the vibrant Windy City.
While it’s easiest to drive from Plainfield to Chicago, taking just over an hour, the city does offer two bus routes on weekdays. However, public transportation is minimal in Plainfield, so plan on driving a car.
9. Plainfield tornado of 1990
A devastating F5 tornado struck Plainfield on August 28, 1990, the strongest August tornado in US history and one of the strongest of all time. It remains as one of the most memorable events in the village’s history and led to significant rebuilding and growth in the community.
10. Community spirit
Community spirit is at the heart of what makes Plainfield, IL, a special place to live. Residents actively volunteer at libraries, parks, animal sheltered, and food banks, creating a sense of togetherness. Neighborhood associations also organize events, and local businesses support the town and contribute to its historic roots. Strong community engagement, welcoming neighbors, and ample public services helps make Plainfield a welcoming town open to everyone.
What is Plainfield, IL, known for? Final thoughts
Plainfield, IL, is more than just a suburban town; it’s a thriving community with a rich history, excellent schools, and a strong sense of unity among its residents. From a charming downtown to natural beauty and diverse amenities, Plainfield offers something for people from all walks of life. And, with a convenient location near just an hour outside Chicago, it’s no wonder that Plainfield is a growing city beloved by locals.
So, if you’re considering living in Plainfield and want to buy a home or rent an apartment, you’re sure to find something to love.
Welcome to Episode 6 of The Kings Table Podcast, a captivating new show hosted by Ashish, Mike, Aaron, and Matt. Join us for an unfiltered, authentic experience as we gather weekly to delve into the raw discussions that drive our lives, businesses, economics, and the world.
Meet the hosts:
1. Mike (The Sage) Ayala is an accomplished investor, speaker, and podcast host, who stands at the helm of Investing for Freedom, guiding busy professionals and entrepreneurs toward the path of genuine liberation and optimal living. 2. Ashish (Hostess with the Most-est) Nathu is a founder and CEO, entrepreneur, real estate investor, triathlete, and host of the Rich Equation Podcast. 3. Matt (Hero of Hospitality) Aitchison is a distinguished real estate investor, captivating speaker, and committed philanthropist. 4. Aaron (The Trend Spotter) Amuchastegui is a seasoned real estate virtuoso with a remarkable track record of over 1,000 house transactions, predominantly acquired through astute foreclosure purchases at courthouse auctions.
In this episode, we explore the intricate world of business partnerships and the crucial decisions surrounding them. We share valuable lessons on how to evaluate if a partnership is the right fit, increase the odds of partnership success, and recognize the signs that indicate a partnership may not be the best path. We also talk about the triggers and forks in the road that can lead to business partnership problems and how to stay aware to make informed choices. Pivoting your business is a strategic decision, and we discuss the right timing for it. Learn when it’s appropriate to pivot and when patience is key. Finally, we unravel the complexities of walking away from a deal. Gain insights into recognizing the signs that it’s the right time to move on.
Highlights:
01:16 – What are the lessons people should take to either decide if the partnership is good for them, increase the odds of partnership and when do you know when you shouldn’t be in a partnership. 18:20 – Triggers or forks on the road to make you aware and avoid business partnership problems, so you have a choice to continue or separate 22:06 – Creating structured business partnerships 34:51 – When is it appropriate to pivot your business and when you should wait 59:38 – When to know it is a good time to walk away from a deal
Connect with us!
We eagerly await your feedback about the show! Kindly share your thoughts via text message at this number: (844) 447-1555.
Mike Ayala: Instagram: https://www.instagram.com/themikeayala/ YouTube: https://www.youtube.com/channel/UCoa4pNSAYxBM6nSn2jCrPYA Website: https://investingforfreedom.co/
But depending on how a lender interprets the guidelines, the client could have gotten his application rejected for not having consistent employment for a two-year period without interruptions, explained Gastelum.
“It really comes down to interpretation of the guideline. One lender could have said, ‘Oh, he was out a week, so it’s interrupted and therefore, the second employment doesn’t work.’ The problem is, a mortgage credit reject (MCR) is kind of like your scarlet letter, to be completely honest,” Gastelum said.
When a lender rejects an FHA application, it discourages the next lender from even reviewing the application because of the extra work the underwriters have to do to override that MCR, mortgage pros told HousingWire.
All FHA mortgage lenders use a system by the U.S. Department of Housing and Urban Development (HUD) called FHA Connection, a database used to insure and generate FHA case numbers associated with the borrower’s home loan application. When the borrower is denied for an FHA mortgage loan, an MCR report had to be created for that denial. That changed on September 11.
The FHA’s announcement in early September to waive a requirement that FHA-approved lenders flag rejected loans in the FHA Connection system is a step in the right direction since declined borrowers don’t have to overcome a stigma, loan officers said.
In a rate-rising environment where it has become more difficult for first-time buyers to get into the market, borrowers won’t have to deal with a file that has an MCR for six months. Even after the six-month period is over, the borrower’s case number would still be attached to his/her social security number.
Demand for FHA loans have risen over the past year to comprise 23.8% of mortgage applications in August 2023, up from 17% from the same period a year ago, according to the Mortgage Bankers Association.
The FHA/VA share in Q2 2023 stood at 22.9% of the entire mortgage origination volume, up from 18% in Q2 2022, according to data compiled by Inside Mortgage Finance and Urban Institute.
Loan officers said that the FHA’s waiver will give borrowers a fairer shot at obtaining financing. Borrowers won’t be subject to lenders’ different underwriting interpretations that could lead to a rejection of their mortgage applications.
“That (MCR) is a subjective stigma based on credit risk tolerance of the particular lender that you went to initially. “This is an underwriting technicality that is unfair and it is a good move to create more fairness,” Billy Taylor, CEO of Hometown Lenders, said.
“We are really happy about this change because it’s going to provide more opportunity for loan officers and is going to provide more opportunity for buyers to get a second chance,”Michael Borodinsky, VP and branch manager at Caliber Home Loans, said.
Overcoming overlays
The FHA credit requirements are strict, but borrowers can get an FHA loan with no credit score. In fact, HUD forbids lenders from declining a borrower’s FHA loan application simply because they lack a credit history.
In such a case, lenders will ask for documentation, including a letter from the landlord documenting on-time rent payments, payment history of utility companies and cell phone or internet provider.
Lenders, however, have overlays – rules on top of the federal rules that were published as lenders need to sell those loans to investors who do not want to buy high-risk loans.
“Those overlays – it could be higher standards, it could be lower debt-to-income (DTI) ratios – still exist on a subjective basis on a lender-by-lender basis. So a borrower not knowing that they could qualify for a loan where their credit score is below 640 or 620 could be subject to a denial and then not realize that they could be approved somewhere else,” Borodinsky said.
Generally, the FHA requires a minimum 580 credit score with a down payment of 3.5% to qualify for a FHA loan. Under FHA guidelines, borrowers with credit scores between 500 and 579 must make a down payment of at least 10%. But they may also face tighter requirements. Lenders may require a lower loan-to-value (LTV) ratio or ask that the borrower make a larger down payment.
Reasons for a MCR vary, said Ted Tozer, non-resident fellow at the Urban Institute‘s Housing Finance Policy Center (HFPC) and the former head of Ginnie Mae.
“It could be low credit scores, or it could be geographics too – maybe they’re in a market that it’s a soft market where they’re looking at home prices that could be falling. Lenders don’t want to tilt their portfolio to one where these 3.5% down payments could very well become over 100% LTV just because home prices fall,” Tozer noted.
Industry personnel frequently complained that FHA Connection often didn’t provide sufficient information about mortgage credit rejects to determine why the applicant was rejected, said Peter Idziak, senior associate attorney at Polunsky Beitel Green.
“It could be the lender’s own standards could be higher or different, or in addition to just the FHA qualifications,” Idziak said.
For a prospective homebuyer, the new waiver should avoid a possible misrepresentation of their actual creditworthiness, JR Younathan, SVP and California state mortgage production manager at California Bank & Trust, said
“The given waiver doesn’t necessarily open new paths to compete as they could have done that previously. It would only open a new path in the instance that the other lender wasn’t willing to investigate the reasons the denial was registered, and instead rejected the loan file/borrower on the fact it existed at all, thus eliminating that ability to compete,” Younathan noted.
Regardless of whether the applicant is walking in to the lender for the first or second time, the lender should be armed with enough financial information to assess the credit risk.
“The lender should be confident enough to know what questions to ask, how to analyze their income, how to analyze all the other risk profiles, it really shouldn’t make that much difference, because they should be in a situation where they should be asking the right questions to really understand,” Tozer said.
Beggars can’t be choosers
Though loan officers are unanimous that the waiver will make FHA loans more accessible for borrowers, LOs interviewed by HousingWire don’t expect it to increase their production volume.
In a highly competitive environment, lenders had already taken that extra effort to approve loans that would’ve been rejected or already rejected from another lender.
“We’re more likely to underwrite a 500 credit score than a big bank who’s saying ‘I don’t want that risky loan in my portfolio. I don’t want I don’t even want to underwrite it, because I don’t want a 500 or 520 or 560 borrower in my portfolio,’” Taylor, of Hometown Lenders, said.
Hometown Lenders would perform a manual underwriting for an applicant with a lower credit score to try to get an approval rather than simply rejecting a lower credit score borrower, he said.
The FHA loan program requires lenders to seek manual underwriting review when a borrower has a credit score lower than 620 and a DTI greater than 43%. According to HUD, borrowers could qualify with a 580 credit score and a DTI of 50%.
“That (loan origination) is the only way we make income. I don’t think it (the new waiver) would affect us at all, we would have looked at that borrower whether there’s an MCR on there or not,” Taylor noted.
To override an existing MCR would require a level two underwrite – meaning two underwriters would have to underwrite the file as they have the authorization to override the MCR in the FHA Connection system.
Because the mortgage credit reject is going to be eliminated, we’re no longer going to have to deal with a second underwrite, Gastelum said.
“It’s not going to be more business. If anything it’s going to bring some of the borrowers that got declined at other companies back to the marketplace sooner,” Gastelum said.
FHA loan limits rose to a maximum of more than $1 million and mortgage insurance premiums for FHA loans were cut by 30 bps this year in line with home price inflation and to provide relief from the steep rise in mortgage rates.
Some loan officers noted that while the FHA’s decision to cut MIPs was a step in the right direction, the upfront mortgage premium (UFMIP), which amounts to 1.75% of the base loan amount, as well as a monthly premium for the life of the loan, could still be a burden for borrowers compared to those with a conventional loan.
However, affordability will still remain challenging for borrowers as wages would need to rise and home prices would need to fall to tackle that issue, Taylor noted.
“You’re not going to change affordability — which is the real reason people don’t have access to housing — by taking MCR off,” said Taylor.
But any little bit helps, Borodinsky said, citing a tough mortgage origination market that he’s never seen before.
“I welcome anything that moves the needle even fractionally. Because in this market, beggars can’t be choosers. This market is unlike any market we’ve seen in over 30 years in terms of there being no inventory, high interest rates and a real problem compounded with what’s called the lock-in effect,” Borodinsky said.
An emergency fund is more than a nest egg, it’s a lifeline. Unfortunately, we can’t predict every cost associated with buying a home, new or old. When it comes to unforeseen but necessary replacements and renovations, the price tags can pile up.
The main point here is control. With an emergency fund, you have the ability to maintain a normal life if something goes wrong. Say your boiler must be replaced earlier than expected, or perhaps you’ve found termites in the walls. Instead of going into disaster mode, you can simply dip into the fund you’ve made for just this reason. An emergency fund is about giving you the room to breathe.
How Much Money Do I Save?
The amount you should save is proportional to your lifestyle. For example, if you are planning to build a house or do any renovations, you should definitely have a little contingency money around. If you have recently bought a home and there are no foreseeable issues with the structure, you should still build an emergency fund, just in case.
Financial guru Suze Orman (of Oprah fame) recommends saving enough money to live off of comfortably for eight months. Yes, really. Eight. Whole. Months.
And How Do I Save All That Money?
While it may seem like a lofty goal to build an eight-month emergency fund, it’s actually very doable with some slight cost-shaving. The best way to save is putting a little money away each month. Try creating sustainable goals, earmarking a certain amount you want to put away in a savings account each month.
Additionally, some people find success in cutting costs. Monthly subscriptions and bills weighing you down? Find ways to trim savings! Keep track of your expenses by going through all your checks, credit card charges and ATM withdrawals. Make a note whenever you spend: rent, mortgage, utilities, transportation, healthcare, groceries, meals, entertainment, clothes, etc. Is there anywhere you can cut back? Instead of going out to dinner 4 times a week, try 1 or 2. Ultimately, you should be shooting to save around $100 dollars by trimming extra expenses.
In more extreme cases for an immediate emergency fund, there are quicker solutions. Some people have taken on second jobs or side jobs. It can be as simple as babysitting or dog walking to bartending on the weekends. And, of course, one of the most obvious ways to earn some immediate cash is to sell things. If you can really do without the extra sofa, put it up on Craigslist for some quick cash!
Where Does This Money Go?
One of the most important lessons about an emergency fund is where to put it and where not to put it. Emergency fund money should preferably go in a savings account where it can stay as liquid cash. The worst place to put this money is somewhere that it is not easily accessible. That is to say, don’t invest an emergency fund; resist the urge to put that money back into the market or into stocks.
Once you have a nice stockpile of money, it’s a lot easier to go about your home owning business. Whether it is replacing some plumbing or getting a better energy and cooling system, you will be able to make improvements to your home without breaking a sweat or breaking the bank.
Carter Wessman
Carter Wessman is originally from the charming town of Norfolk, Massachusetts. When he isn’t busy writing about mortgage related topics, you can find him playing table tennis, or jamming on his bass guitar.
How fast is fast enough? Ask Guaranteed Rate, which just launched “5 Minute Approval” for mortgage applications.
This new “innovation” from the Chicago-based mortgage lender allows borrowers to get approved for a home loan in just five minutes.
Interestingly, it comes not long after their Same Day Mortgage, which apparently wasn’t quick enough for some.
It might also be a sign of the times, with mortgage application volume at its lowest levels since the 1990s.
As the name suggests, customers can get approved for a home loan in as little as five minutes and possibly close in just 10 days.
How Does This New 5 Minute Mortgage Approval Work?
Those who are in a really big rush to get a mortgage can now take advantage of Guaranteed Rate’s so-called 5 Minute Approval.
As noted, the company only just launched Same Day Mortgage back in March, but apparently they had their sights set on faster.
And faster is exactly what this is. How it works appears relatively simple.
You visit their website, access the secure portal, sign the initial application package, then upload any requested documents.
This can apparently be done without any human interaction as well, and is about three minutes faster than Rocket Mortgage’s 8-minute full approval launched back in 2015.
To date, Guaranteed Rate has “successfully approved” more than 100 loans within 5 minutes via their pilot program.
It’s unclear how much is needed from the borrower as they didn’t provide the details, but that obviously seems lightning fast.
Also not totally clear if this is a full loan approval or a more basic mortgage pre-approval.
Simply visiting a website and filling out a form can easily take five minutes, so my assumption is they aren’t asking for much here. It’s unclear if credit is pulled, but I’d guess at least a soft pull is required.
If document upload is needed, that would likely take several minutes to track down from other websites.
Perhaps they allow applicants to link bank accounts, pay stubs, and other key information to speed up this process.
Either way, only a cookie-cutter vanilla loan scenario is going to get a mortgage approval in as little as five minutes.
This means a W-2 borrower with good credit and nothing out of the ordinary. And perhaps really fast fingers and a fiber internet connection to make it through the application in record time.
Jokes aside, it’s available for both home purchases and mortgage refinances, assuming you’re the impatient type. Okay, I guess one more joke.
Guaranteed Rate President and CEO Victor Ciardelli notes that you can even be touring a house and generate the insanely fast approval while you’re walking around.
Is Speed Still Necessary in Today’s Cooler Housing Market?
While it feels like a distant memory, there used to be a waiting list to refinance a mortgage at certain banks.
And many loans took two months or longer to close, due to unprecedented demand related to record low mortgage rates.
Several years ago, just getting an underwriting decision could take a couple weeks.
Not so today, with mortgage application volume down to 1996 levels, per the latest report from the Mortgage Bankers Association (MBA).
But despite depressed levels of demand, there are still bidding wars and multiple offers on many home sales because inventory is also rock-bottom.
At last glance, months’ supply was hovering around three months, which is well below a healthy market at 4-5 months of supply or more.
So it’s not just low demand, it’s also a story of very limited supply.
Guaranteed Rate cited Zillow data that found 48% of homes for sale still receive three or more offers.
This means it can still pay to have a mortgage approval in-hand if and when you tour a property.
Of course, a same day approval vs. five minute approval might just be splitting hairs.
Perhaps more importantly, Guaranteed Rate says applicants can close on their home loan in as little as 10 days.
Getting to the finish line that quickly seems a lot more valuable than rushing through an approval at the start.
Read more: Guaranteed Rate’s OneDown Offers a 1% Mortgage and $1,000 Toward Lender Fees
You want to become a homeowner but aren’t sure how you’re going to save up for your down payment. Typically, you’re going to need at least 3% to 5% for a down payment for a conventional mortgage, or 20% on a loan that doesn’t require private mortgage insurance.
Fortunately, there are a number of methods you can use to stash away money for your future home. Here are some of the best ways to save for a house and get one step closer to your dream.
1. Creating a Budget
Living on a budget may not be easy, but in the long run it can help you save money to put toward a home purchase. Creating a budget to track where your money is going is a good first step in a house savings plan.
Some effective ways to do this are recording expenses in a spreadsheet or using a budgeting app to determine your spending practices and identify where changes can be made to meet your savings goal. 💡 Quick Tip: Want to save more, spend smarter? Let your bank manage the basics. It’s surprisingly easy, and secure, when you open an online bank account.
2. Using Cash Envelopes
The theory behind this method is that it may be harder to part with cash than it is to swipe a debit or credit card. The cash envelope budgeting method involves distributing cash each month (or pay period) into envelopes based on categories you establish. When you’re out of cash for each category, you stop spending.
3. Deleting Your Stored Cards
Do you store your payment information on Amazon or other e-commerce stores? If so, it’s time to consider deleting them from each store or from your browser settings. If you have to manually input your card each time you want to make a purchase, you may just stop spending so much money online.
4. Downsizing Your Life
Another one of the tips for saving for a house involves downsizing your life. This could mean moving to a smaller rental or to a more affordable area of town. Just keep in mind that there is always a flip side to downsizing. For instance, your smaller apartment may not include parking, so you might be taking on an expense you didn’t have before. Moving to a different part of town might mean spending more on transportation costs getting to work each day. It’s a good idea to weigh the pros and cons before making any big decisions.
5. Setting Up Automatic Transfers
Reaching your savings goals might happen faster by setting up automatic transfers from checking account to savings account each time you’re paid. If your paycheck is direct-deposited, you may also be able to split the deposit into more than one account, on a percentage or dollar-amount basis.
6. Postponing Vacation
This method can reap plenty of savings if your usual vacation is a costly one. Instead of taking a big trip, a staycation may be entertaining and less expensive. Check out your local newspaper’s website to find free activities and events in your area. Art museums sometimes offer free admission days, and area nature trails are generally free and can be a good way to have fun and get exercise in one fell swoop. Now is the time to be creative since you’re working on your house savings plan.
7. Tackling Your Debt
If you get 4.50% APY in your high-yield savings account, but you carry a credit card balance with an interest rate of 23.99%, it may make more sense to put your money towards your debt right now rather than savings.
8. Eating at Home
Dining out is expensive. The average American household spends more than $3,000 per year on eating out. By skipping the takeout and restaurants and cooking your meals at home, you can add that money to your house savings plan.
9. Making Your Own Coffee
It’s a cliche, but it’s true: If you skip the lattes, you could boost your savings. The average American spends $92 per month on coffee, which adds up to about $1,100 per year. Purchasing a coffee maker and brewing your own cup of joe as opposed to hitting up a coffee shop every day will likely improve your home savings plan.
10. Using Coupons at the Grocery Store
Looking for coupons for items you normally buy anyway can trim your grocery bill. Coupons can be found on coupon websites and on brands’ websites.
Recommended: Tips for Grocery Shopping on a Budget
11. Buying Things on Sale
Just because you want something doesn’t mean you need to have it right away. Waiting to buy things when they go on sale is another one of the best tips for saving for a house. Along with looking at stores’ advertised sales, you could always create a Google alert to find out when things go on sale by typing in your favorite stores’ names + sales on Google Alerts. 💡 Quick Tip: If you’re saving for a short-term goal — whether it’s a vacation, a wedding, or the down payment on a house — consider opening a high-yield savings account. The higher APY that you’ll earn will help your money grow faster, but the funds stay liquid, so they are easy to access when you reach your goal.
12. Using Promo Codes
Promo codes are like coupons for online purchases. Browser extensions that search the web for deals can bring those promo codes to you and save you precious search time and effort.
13. Cutting Out Cable
Cable television can be a major monthly expense for some households, sometimes hundreds of dollars every month. One of the best ways to save is to cut the cord, switch to streaming services, and potentially pay much less per month on your favorite entertainment by saving on streaming services.
14. Canceling Your Subscriptions
You may be spending money on monthly subscriptions without realizing how much. Canceling subscriptions to things like lifestyle boxes you aren’t using anymore or magazines you don’t read can add up to significant savings.
15. Making the Most of the Library
The local library is a fantastic resource. You can borrow books, magazines, and movies instead of buying them, and some libraries even offer access to free audiobooks. Libraries are funded by taxes, so you’re probably already contributing to this resource—there’s little reason to pay twice for items it provides as a public service.
16. Canceling Your Gym Membership
Gym memberships can be pricey, but exercise is not. Using free, online workout videos and things in your home as exercise equipment (e.g., stepping on your stairs, doing wall or table pushups, or using a chair for barre exercises), or walking around your neighborhood can save money over a gym membership.
17. Shopping Around for Insurance
You may be overpaying for insurance. Comparing rates and getting different quotes for your car, renter’s, pet, health, and other types of insurance can ensure you’re getting the best deal possible.
18. Steering Clear of Checking Account Fees
Is your bank charging you a monthly maintenance fee just to keep your account open? If so, it might be worth looking into switching banks or asking your bank how you can avoid these fees. For example, if you have a direct deposit into the account or maintain a minimum daily account balance, you may be eligible for a fee-free account.
19. Selling Your Stuff
Do you have things you never use anymore? Could they fetch some cash? Holding a garage sale or selling your stuff online might net a few dollars to add to your house savings plan. You’ll probably want to buy new things for your new home anyway, and selling your old things will allow you to save up.
20. Asking Your Boss for a Raise
During your annual performance review, consider asking for a raise, highlighting your accomplishments and why you deserve more money. Be specific about improvements you’ve made to the company by backing up your accomplishments with data.
21. Switching to a Better Job
If you aren’t making enough money in your current position, then consider switching to a higher-paying job. It’s a good idea to keep your current job until you find a new one, though.
22. Taking on a Side Hustle
If you have the time and energy, earning extra money on nights and weekends with a side hustle might be an option. For instance, you could start a dropshipping business, take up freelancing, or do affiliate marketing.
23. Signing Up for a Travel Rewards Credit Card
If you need to travel or you are still planning a vacation, using a travel rewards credit card may be a good idea. These cards offer certain rewards for different categories such as travel, gas, and dining out, and allow you to put your rewards towards flights, hotels, rental cars, and more. Plus, many of them offer other ways to save, such as providing you with rental car and baggage delay insurance or no foreign transaction fees.
Recommended: Credit Card Rewards 101: Getting the Most Out of Your Credit Card
24. Getting a Cash Back Credit Card
With a cash-back credit card, you can earn cash rewards every time you spend. Putting that cash back toward a statement credit or bank transfer will help accelerate your savings.
25. Renting Your Spare Room
If you have an extra room in your apartment that you aren’t using, you could get a roommate or list it on a rental site to reduce your overall living expenses. Just make sure that you get permission from your landlord before inviting anyone else to move in.
26. Renting Out Your Storage Space
Another one of the best ways to save for a house is to rent out your unused storage space on a peer-to-peer site. You could generate income without having to do much work at all, and you won’t have to live with someone else—just their stuff.
27. Making Your House Savings Plan Known
Your Aunt Mildred may always get you boxes of chocolates for your birthday, and your dad might give you gift cards for Amazon. But letting your family and friends know you’re trying to save for a home might plant the seed for them to give you cash instead. If you’re getting married, this is a time to tell people about your plans so that instead of registry gifts, they might give you cash for your future home.
28. Opening a High-Yield Savings Account
Putting your money into a regular savings account may not result in much of a return. However, putting money in a high yield savings account may net more interest and get you closer to reaching your savings goals. A high-yield savings account typically offers 20 to 25 times the national average of a typical savings account.
29. Hiring an Accountant at Tax Time
If you’ve been doing your taxes on your own every year, you may have missed potential tax savings you might be eligible for. A tax professional may be able to maximize your savings, possibly resulting in a larger refund, or minimize taxes you owe.
30. Saving Your Tax Refund
If you get a tax refund, consider saving it instead of spending it. The money can be a nice addition to your down payment, possibly even earning interest in high-yield savings account until you need it.
31. Changing Your Tax Withholding
Among the best ways to save for a house is by keeping more money from your paycheck. If your withholding is too high, the IRS is essentially holding your money for you all year round. Instead of getting a large tax refund, keeping your money now and investing it in an interest-bearing account will help you save up for your home.
The Takeaway
Saving for a house takes some time and effort, but there are many different ways to do it. For instance, by eating out less, you could potentially save thousands of dollars a year. Launching a side hustle could increase your income. And opening a high-yield savings account, which typically offers considerably higher interest rates than a traditional savings account, could also help your money grow — and help you achieve your dream of home ownership.
Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.
Better banking is here with up to 4.50% APY on SoFi Checking and Savings.
Photo credit: iStock/Talaj
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4.50% APY SoFi members with direct deposit activity can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a deposit to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.
SoFi members with Qualifying Deposits can earn 4.50% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.
SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.50% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.
SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.
Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.
Interest rates are variable and subject to change at any time. These rates are current as of 8/9/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet..