You know that cool girl whose perfectly curated apartment reflects her vibe to a T? Every piece of decor goes together seamlessly, and her space feels entirely unique to her. We all strive to be that girl, but more often than not, sourcing decor that reflects your individual style and personality is more challenging than it seems. It can feel like you’re constantly removing stuff from your cart because it’s way out of budget, not totally your style, or so basic you feel like you’ve seen it a million times before. No shade to more popular retailers, but if you’re only shopping at the same few home decor stores as everyone else, you’re never going to find pieces that really feel extraordinary. If you’re ready to refresh your shopping habits, keep reading for nine under-the-radar home decor stores where cool girls are shopping.
Urban Outfitters may be a spot you usually turn to for clothes, but their home decor section shouldn’t be overlooked. From investment-worthy pieces like high-quality wood furniture to small, quirky knickknacks, there’s a huge range of home items with plenty of personality to fill your space. It’s a great place to shop if you love trying out new trends and unexpected styles.
If you want pieces that look chic and on-trend but don’t cost a fortune, H&M’s home section is the place to shop. They have tons of minimalist pieces with a high-end look but without the hefty price tag. Whether you want to refresh your bedding, invest in some new artwork, or snag some accessories to bump up your bookshelf wealth, you’re sure to find something you’re obsessed with.
You might be familiar with the Museum of Modern Art as a tourist attraction, but the MoMA Design Store is a hidden gem full of all sorts of artsy decor pieces. The MoMA’s curatorial department selects the items they sell, so you know you’re getting high-quality, well-designed pieces. This retailer is the ideal source if you like to collect unique pieces that you haven’t seen anywhere else.
You may be familiar with Chip and Joanna Gaines’s Hearth & Hand collection at Target, but their best designs are sold directly through the Magnolia brand’s site. Think less modern farmhouse and more moody cottagecore. In addition to vintage-style decor and furniture that looks like you sourced it from a flea market, you can also find authentic, one-of-a-kind antiques in their Found + Collected section. For anyone who loves a cozy, collected-over-time look, this is about to be your new go-to.
Zara has been a go-to for fashion girlies for years, but the retailer’s home decor division doesn’t get the same hype. Head to the Zara Home site to find all sorts of products ranging from kitchen and dining essentials to decorative accessories to accent furniture. Almost everything boasts an affordable price tag and a chic contemporary look that’s definitely cool girl-approved.
If you want truly individualistic pieces no one else will have, Etsy is the spot. The site has literally anything your interior design-loving heart might desire: affordable artwork, authentic vintage finds, handmade pieces from independent artists, and beyond. Plus, many sellers let you personalize their items, so you can get something completely one-of-a-kind.
You may recognize some Terrain pieces from its sister store, Anthropologie, but they have even more incredible decor to shop at their own URL. The home and garden brand has many bright, fun pieces to add a pop of color to your space. It’s one of the best home decor stores to shop if you love garden-inspired pieces with lots of florals.
If you need to find prints to fill a gallery wall, Society6 is the place to look. The online marketplace sells artwork from over 450,000 independent artists, so the odds of finding something for your space are very much in your favor. Also, if you fall in love with one design, you can often find the same artwork on prints on throw pillows, trays, blankets, and more.
9. Local small businesses
Local small businesses are arguably the best place to find high-quality decor that isn’t a dime a dozen. Your neighborhood boutiques, vintage shops, and thrift stores will have a wide selection of pieces you can’t find at larger retailers. You’ll also be supporting the local economy and often purchasing secondhand. I mean, what’s cooler than being able to answer the “Where did you get that?” question with “I thrifted it.” If you aren’t sure how to find good small businesses near you, turn to social media to do some recon. Comb through hometown influencers or bloggers to see who they tag, or simply take a Saturday to go exploring! You can also find places through Facebook Marketplace (small businesses and pop-up shops often post items there) or ask your friends and family to see if they have any recommendations.
The Mile High City, Denver, CO, is known for its vibrant neighborhoods, stunning mountain views, and a thriving arts and culture scene. With an average rent of $2,123 for a one-bedroom apartment, Denver offers a variety of luxurious living options for renters. If you’re looking to rent an apartment in Denver, you’ll find a range of neighborhoods to explore, each with its own unique charm and appeal.
8 Most Expensive Neighborhoods in Denver
From the picturesque Highland to the bustling streets of Downtown, there are plenty of fantastic neighborhoods in Denver. Whether you’re looking for a luxurious home to rent in Denver or wondering where to live in the city, read on to find out what neighborhoods made the list.
1. LoDo 2. Highland 3. Northwest Denver 4. Park Hill 5. Downtown 6. Cherry Creek 7. Baker 8. Far Southeast Denver
Let’s jump in and see what these neighborhoods have to offer.
1. LoDo
Average 1-bedroom rent: $3,831 Apartments for rent in LoDo
LoDo is the most expensive neighborhood in Denver, as the average rent for a one-bedroom unit is $3,831, which is over $1,700 above Denver’s average rent. There are plenty of reasons why this neighborhood draws residents. Architecturally, the neighborhood combines some of the oldest buildings in Denver with new developments and condominium buildings. LoDo is also home to attractions like Confluence Park and the Museum of Contemporary Art, making it a prime location to explore the city. If you’re looking for a taste of the neighborhood, there are a variety of local restaurants to explore, showcasing Denver’s food scene. For renters living in Denver without a car, bus stops and train stations are close to LoDo.
2. Highland
Average 1-bedroom rent: $3,813 Apartments for rent in Highland
Highland is a bustling area that’s north of downtown Denver. This beautiful neighborhood overlooks Downtown Denver and provides easy access to lots of attractions like the Denver Aquarium and Elitch Gardens. Highland is well-known for its green spaces like Highland Park and Hirshorn Park, and the charming shops and cafes along 32nd Avenue. The average rent for one-bedroom apartments is $3,813, which is about $1,700 above the city’s average, making it a pricier neighborhood. However, Highland’s charm and amenities are well worth it.
3. Northwest Denver
Average 1-bedroom rent: $3,676 Apartments for rent in Northwest Denver
With an average one-bedroom rent of $3,676, Northwest Denver is the third most expensive neighborhood in Denver. This neighborhood has plenty of historic homes in styles like Victorian and Craftsman, as well as properties with picturesque views of the city. Northwest Denver is also near the highway, making it a convenient location for commuters. And if you’re looking for a relaxing afternoon you can find several incredible parks in the neighborhood, including Berkeley Lake Park, Rocky Mountain Lake Park, and Sloan Lake.
4. Park Hill
Average 1-bedroom rent: $3,562 Apartments for rent in Park Hill
Just about 5 miles east of downtown, Park Hill is a stellar neighborhood if you want to live close to the heart of the city without being fully immersed in the bustle. While more expensive, the perks of living in Park Hill offset the costs. The tree lined streets frame historic mansions and single family homes with graceful lawns. The 17th Avenue Parkway is especially beautiful and was designed by Frederick Law Olmsted. Residents can also walk to attractions like the Denver Zoo or parks like City Park and Park Hill.
5. Downtown
Average 1-bedroom rent: $2,905 Apartments for rent in Downtown
Next up is Downtown, the fifth most expensive neighborhood in Denver. Downtown is full of history and charm with tree-lined streets, historic buildings, and museums. It’s also full of parks, shops, and restaurants. Renters who want to live in the center of it all will love Downtown. Walk to Coors Field for a baseball game, stroll through Larimer Square, or take in the opera at the Denver Performing Arts Complex. It’s no wonder the rents are more than $500 above Denver’s average.
6. Cherry Creek
Average 1-bedroom rent: $2,706 Apartments for rent in Cherry Creek
Cherry Creek takes the sixth spot on our list of most expensive neighborhoods in Denver. The average rent for a one-bedroom unit is roughly $500 more than the city’s average. Just north of the curve of the eponymous Cherry Creek, this neighborhood is a great option to consider if you’re looking to be near the Cherry Creek Shopping Center. For those who prefer the outdoors, Cherry Creek Park and Pulaski Park offer relaxation and recreation. The neighborhood is about 4 miles from downtown, which means you’ll have easy access to the city-center, without living in the bustling atmosphere.
7. Baker
Average 1-bedroom rent: $2,481 Apartments for rent in Baker
A well-loved and very hip Denver neighborhood, Baker is next on our list. Neighborhood highlights include the art-deco Mayan Theatre and the Blue Bonnet Restaurant. South Broadway runs right through Baker and is full of eclectic shops and restaurants, meaning there’s plenty to do throughout the week. There are countless historic buildings in Baker, so make sure to explore the area’s charm. If you need to commute to work, there are lots of options as the Alameda Station is nearby.
8. Far Southeast Denver
Average 1-bedroom rent: $2,319 Apartments for rent in Far Southeast Denver
The final neighborhood on our list is Far Southeast Denver. This area has a vibrant feeling with popular restaurants and quirky shops. You can find parks like Bible Park and Rosamond Park, perfect for enjoying a sunny day in Denver. I-25, Speer Boulevard, and the RTD provide residents quick access to Downtown.
Methodology: Whether a neighborhood has an average 1-bedroom rent price over the city’s average. Average rental data from Rent.com in June 2024.
Would Donald Trump’s return to the White House be good for the mortgage industry? Experts aren’t so sure.
The majority of mortgage professionals voted Republican in 2020 and say they’ll do the same this November, according to a recent Arizent survey. Many housing finance players still support President Biden, but the business is about the most Republican-leaning group among their financial services peers also surveyed.
No matter who’s in the Oval Office over the following four years, stakeholders suggest neither leader will directly help lenders and origination activity.
“We’re not assuming the election changes anything significantly for the mortgage industry,” said Bose George, managing director at Keefe, Bruyette and Woods.
Lenders are most worried about interest rates, a number the president, despite any past criticisms, has no control over. Experts who spoke to National Mortgage News about a possible Trump second term pointed to the small impacts his potential second term could deliver.
Inside: Here is the real answer from a day trader and long term investor on how fast can you make money in stocks? Increase freedom by day or swing trading.
The answer depends.
It depends on what your particular objectives are for making money.
If you are a day trader, you obviously can make quick money during the day.
If you are a swing trader, you can make money over the course of typically two to five days. Most swing trades are closed within 30 days.
If you are a long-term investor, it takes longer to make money in the stock market since the rate of return is slower with index funds or mutual funds.
The biggest caveat for the average person to make money with stocks quickly is they buy at the wrong times and sell at the wrong times.
Everyone has heard the mantra of buy low, sell high. Right?
Sounds simple enough.
However, the amateur investor does not understand how the overall market moves, the momentum of the day, and their particular stock of choice.
Personally, I know I can make money with stocks quickly. For me, I average $300-500 in a day easily (and way more using options). But, I have moved from novice investor by taking this investing course. I have practiced with paper trading (simulated account) and I have worked hard to get the results that I see on a consistent basis.
My mantra is… I need to be consistent enough to achieve remarkable results in the stock market.
That is your answer to how fast can I make money in the stocks.
Even Jean-Jacques Rousseau, a philosopher, writer, and composer has a perfect quote when it comes to making money fast in stocks, “Patience is bitter, but its fruit is sweet.”
If you don’t understand what patience means, you are not prepared to make money fast in stocks.
You have to be disciplined enough to pull the trigger at the right time and exit before you get greedy or lose everything.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
Trading involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Past performance is not necessarily indicative of future results.
Your results will vary. Trade at your own risk.
How Fast Can you Make Money In Stocks?
You can make money quickly in a matter of seconds. You can also lose money in a matter of seconds.
The brutal truth… day trading is not made for everyone.
However, you can make consistent income to supplement your paycheck. And that right there is enticing for anyone.
As a day trader, you close out all of your trades on the same day. Thus, you will have a realized gain or loss at the end of the day. This is the fastest way to make money in the stock market.
As a swing trader, you will hold your trades until the stock moves to your desired price. Once you close your trades, that is when you have a realized gain or loss.
For long term investing, that is normally a buy and hold strategy of holding a stock, EFT, or index fund for longer than a year.
The best part is you can design what type of trading style works best for your personality and maximize the profits you are capable of.
In order to have the highest success rates of making money in the quickest time possible, I highly recommend that you take this course.
Trading has been a life-changing event for her, as well as her 1000s of students that have all made over $1,000 per day. That is a testament to the quality education that you would receive on how to trade.
So, if you were wondering can you make $1000 a month trading stocks? The answer is yes and you can make $1000 a day if you take the course I have taken.
Personally, I truly believe that spending the money on this online investing course is money better spent paying a financial advisor or paying for college.
Is Day trading worth It?
Can you make a living day trading?
Yes, it is very possible to make day trading a viable career path for you.
There are many benefits to being a day trader because you set your own hours. Since you are your own boss, you do not have to answer to anybody else. And in many cases, you could possibly work fewer hours than a regular salaried position.
On the flip side of being a day trader is you will have highs and lows. Until you fully grasp the concept that as a trader you will not win 100% of the time, you will struggle. In fact, most traders are probably executing trades with 50% wins and 50% are losses; that is what they call their batting average.
As an active trader, you must be careful to protect your account balance through the proper execution of risk management. (If you don’t understand this risk concept, then you must watch this video).
The goal for a day trader is to lose small amounts of money and reap a bigger reward of profit at the end of the day.
According to Glassdoor, the average day trader makes $71,260 a year. Thus, day trading is a very viable career because this is a higher potential than the average salaried $60000 per year that somebody else can provide for you.
Now, let’s break down how much does the average day trader make in days, weeks, and months.
The stock market is open for trading for about 252 days per year. This can fluctuate slightly based on holidays, Leap Year, or major events.
Average Trader Makes
Daily
$282.78
Weekly
$1,370.38
Monthly
$5,938.33
Yearly
$71,260.00
Your results will vary. Trade at your own risk.
Now, what if you love your job and just want to supplement your income with trading? That is completely possible and something many people do today.
Check out this person’s journey.
Serious About Learning How Fast You Can Earn Money In Stocks?
The stock market can be tricky. The stock market can be a beast to try to understand. That is why so many financial gurus are always making predictions and a very small handful actually pan out.
In the most simplistic form, a stock price is when a buyer and seller agree on a specific price. That price can move up and it can move down throughout the day. But at that particular moment in time, that is where the buyers and sellers agree on a price.
Once you move from a novice investor to a beginner investor to a good investor to an advanced investor, you are able to increase how fast you can potentially earn money.
The biggest mistake is to just jump into the market and start trading without any clue to what you are doing.
To have a greater probability of success, then you must take a top-notch investing course. The other option is to skip the cost of the course and lose even more in the stock market. Your choice.
I picked this top-notch investing course and am very happy with my decision. Thus, I highly recommend it to others who are serious about trading to supplement their income.
Check out my Trade and Travel Review – Join the $1000 in a Day Club!
If you don’t have cash for the full course upfront, just start with the basic Trade and Travel course. You can always upgrade to VIP once you begin profiting off the stock market and move to advanced trading strategies of shorting and options.
On top of that, you need to spend time practicing your trades in a simulated account; also known, as paper trading.
Practice everything you are learning from the course without losing money. You are trading with fake money until you can get the hang of day and swing trading.
Learn how the stocks move.
Learn how the market reacts.
Master your trading plan.
Refine your trading mindset.
Once you are comfortable and ready, then you can move on to a live trading account. That is where you actually start reaping what you have sown.
Day trading or swing trading is not a waste of time or a bad idea if you know how to execute properly and know your long term goal.
Plus it helps you find time freedom in your life.
Best Stocks to Invest in 2023
Are you trying to find the best stocks to invest in the current year? It may remind you of looking into an eight ball, taking your best guess, and then throwing a dart to hit a bullseye.
There are over 6000 stocks that trade on the NYSE & Nasdaq (source)!
That is a lot of companies to search through to find the best stocks for 2021. Typically, day traders look heavily on technology stocks and growth stocks.
So, how do you go along and pick the best stocks?
One option is to listen to the big financial gurus on TV or in the news telling you to buy this or that stock. They may have some good ideas, but they also may have a few misses. Plus those stocks may be at all time highs.
Another option is you copy what your friend has done. See the stocks they picked, and hopefully, you don’t get burned by a bad stock pick.
Look around your house and find products that you use and believe will continue to do better. (Buyer beware… your favorite products may not be the best stocks in their sector.)
If you truly want to be a savvy investor, then you need to find an easier way for you to pick stocks that fit within your financial portfolio. Even better to find stocks that align with your values and ethics.
More importantly, do this research without spending a ton of your own time!
If you are looking for the best stocks to invest in right now, you can use the Motley Fool’s services to help you pick the best stocks right now.
The other option is to do all of your due diligence and time picking your own company.
Personally, I use Motley Fool’s Stock Advisory. It is an easy way to start with a group of solid companies and less time for me to search out all other detailed information provided.
Is it possible to make a living trading stocks?
Most aspiring day traders will never become profitable. Even though this is the perfect early morning job.
Sad, but true.
That is because they do not have a system (aka trading plan) in place. They were not taught how to trade effectively, manage risk, and happily close a trade for a profit or a loss.
Unfortunately, trying to trade by the seat of your pants and whatever fits your fancy, will not work. The same goes for trading with you you hear on popular Reddit forums, Discord groups, or Twitter.
You have to know when to buy, how much to buy, what your risk tolerance is, when you plan to sell (win or lose), and your potential profit.
Just because you calculate a potential profit of $1,000 does not mean that it is a great trade since you may lose 3000 dollars to make that $1,000 profit happen. And in that case, that trade is not worth it.
There is a consensus out there that day trading is not worth it. Probably because those people lost a ton of money in the market because they were clueless on how to trade.
The question becomes are you willing to advance your knowledge more than the average person to make a living trading stocks.
To be successful at making money in stocks, you must understand how the market moves, be able to make solid decisions on buying or selling the stock or option.
If you struggle to make simple decisions on what you are going to have for dinner, then day trading might not be for you. So, stick with long-term investing with index funds.
If you have an inkling to add another type of income, then day trading or swing trading might be favorable for you. Or a desire of I don’t want to work anymore.
Day trading is a good idea if you are looking to change your personal finance situation and find freedom by increasing your net worth.
Think about how your life and how your stress level can be transformed by short term investing. What can you possibly accomplish by using the stock market as another stream of income?
I cannot stress enough that you must take a solid investing course.
Are you Ready to Make Money Fast in Stocks?
In conclusion, the real answer is yes, you can make money fast in the stock market. Even more when you have successful trade options (VIP level). The market comes with risk and you can also lose money fast in the stock market.
Yes, now is a good time to invest in stocks.
The determination will be decided by how much time you spend truly learning about how to make real money in the stock market.
If you’re following Twitter, discord, Reddit groups, or just following the trends, you may have some success, but it is not guaranteed for a long time.
If you have a proven reliable trading system, like I have taken I you can make the progress you need to start making real money in the stock market.
But remember, nothing is guaranteed.
Nothing that I have said in this post is a promise that you are guaranteed to make money in the stock market. All I’m saying is…it is possible.
You can learn how to make 300 dollars fast. Or even make 5000 fast.
You just have to put in the time, the dedication, and the desire to do it.
Just remember, do not start trading with real money until you have made significant progress in a simulated account and feel confident in your ability to make money in a live account.
You must be able to take money away from other people in the stock market and not have them steal your money.
LearnHow to Get Weekly Paychecks From The Stock Market
Trading involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Past performance is not necessarily indicative of future results.
Your results will vary. Trade at your own risk.
Know someone else that needs this, too? Then, please share!!
Did the post resonate with you?
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
We live in a fast-paced world and are accustomed to immediate gratification. Just as we can get groceries delivered in minutes and order a new movie online with a few clicks, so too do we often expect our bank deposits to be available immediately.
But it doesn’t always work that way when it comes to finances. Some things do require a wait, even though it may seem like they should happen instantaneously. When money is put into a bank account, it can take a while for the deposited funds to appear and become available. Here’s a simple breakdown of how long it takes for funds to clear.
What Are Cleared Funds?
Depositing money into a bank account doesn’t always make those funds appear immediately. It can take time for the funds to clear and become available to use. This is because banks and credit unions may place a temporary hold on the deposit. When this happens, the account holder can see their “total balance” on their account and their “available balance.” The latter is the amount of the total balance minus any pending deposits. The available balance is, as the name indicates, what is available for use.
Why Banks Put a Hold on Deposits
One reason why banks don’t immediately declare deposits to be cleared funds is to help avoid issues that can arise when a deposit bounces. Having a brief waiting period helps protect customers from bank fraud and from paying unnecessary fees. If a bank were to allow a customer to spend funds from a check that ends up bouncing, the customer would then need to repay the bank the amount they deposited and probably pay an overdraft fee (even if the customer wasn’t at fault).
Some holds take longer than others. The federal government regulates the max amount of time a banking institution can hold onto the funds before they make them available to the account holder. Banks and credit unions also have their own policies regarding how long it will take for funds to become available after a deposit, which can be shorter than federal regulations. It can be helpful to review your bank’s policies for holding deposits so you can get a better idea of when cleared funds will become available. That way, you won’t accidentally overdraw your account.
How Do Cleared Funds Work?
Cleared funds appear in a bank account, such as a checking account, after the holding period ends. Usually, this holding period lasts until the next business day, but it can take longer. Weekends and holidays can slow this process down. The type of deposit made can also affect the timeline.
Here’s a specific example: If you deposit a check via an ATM that is not part of your bank’s network, you will probably have to wait a while to access the money. It may take up to five days before that check becomes available cash in your account.
Compare that to the case of electronic deposits made via the Automated Clearing House (ACH). The funds can actually clear and become available as soon as the same day. Having a paycheck deposited via direct deposit can help you access your money a lot faster than if you deposited a check at an ATM.
Breakdown of Times of Cleared Funds
All banks and credit unions have their own timeline they follow surrounding cleared funds. In addition, the federal government sets a maximum limit for how long they can make consumers wait to access their deposit.
Here’s a quick breakdown of the federally allowed wait times for different types of transactions, from wiring money to check deposits.
Type of Deposit
Timeline
Direct Deposit
Up to the second business day
Wire Transfer
Up to the second business day
Paper check (less than $200)*
Next Business Day
Cash*
Same day or next business day
U.S. Treasury check*
Next Business Day
U.S. Postal Service money order*
Next business day
State or local government check*
Next business day
Casher’s, certified, or teller’s check*
Next business day
Mobile check deposit
Up to second business day
Federal Reserve and Federal Home Loan checks*
Next business day
Any other checks or non-U.S. Postal Service money orders
Second business day
Deposits made at an ATM owned by the customer’s financial institution
Second business day
Deposits made at an ATM not owned by the customer’s financial institution
Fifth business day
*Deposited in person.
It’s worth noting that these are the maximum hold times allowed; in many cases these deposits happen much quicker. Again, it’s worth reviewing the bank’s funds availability policy. This will be listed in the account agreement given to you, the account holder, when you opened an account. You can also ask the bank for a copy of their holding policies or look online for it.
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When Can You Withdrawal Cleared Funds?
Deposits often clear in segments. That is, a portion of the funds will become available in your checking account before the whole amount deposited is ready for use. In most cases, the bank has to allow the customer to access $225 from the deposit at the start of the next business day. You could either withdraw cash or write a check. Usually the rest of the deposit is available on the second business day, unless something occurs to trigger a delay.
Cleared Funds vs Available Funds
The terms “cleared funds” and “available funds” both refer to funds that are available for immediate withdrawal or use. It’s important to keep in mind that simply depositing a check doesn’t mean you can use the money right away.
• Regarding a deposit, the $225 that must be made available by the next business day is known as your cleared or available funds. So on the next day, you can go ahead and use that amount.
• However, the rest of your deposit may not yet be available. If you try to draw against it, you are risking overdraft and charges. The full amount of the deposit may take up to a few more days to become ready for use.
Reasons Why Deposits May Be Delayed Until They Become Cleared Funds
There are a few different reasons why deposits can be delayed on their path to becoming cleared funds. Let’s examine some of these.
Deposits Over $5,000
When it comes to large deposits (excluding cash or electronic payments), the bank is typically required to make the first $5,525 of the deposit available by the second business day and the remainder available on the seventh business day, or later.
Recommended: Where to Cash a Check Without Paying a Fee
Brand New Customer Accounts
Newer customer accounts (less than 30 days old) can experience deposit delays up to nine days. Although with official checks and electronic payments, partial funds can be available the next day. (If you are in this situation and in a rush to make a payment, you can look into other ways to send money to another’s bank account, such as P2P apps. These can draw upon other available funds.)
Post-Dated or Fraudulent Checks
If a bank has reason to suspect a deposit is suspicious (such as if a check appears to be fraudulent), then it may hold the funds for longer than normal. A couple of examples of what might cause this kind of hold:
• A check is post-dated, meaning it’s been filled out to show a date that is in the future.
• A check is more than 60 days old.
The Takeaway
Cleared funds are the funds that become available once a deposit to a bank account clears. That means the money is ready for use. The timeline for funds clearing depends on several factors, such as where, when, and how the deposit was made and how large the amount is. Some funds may clear right away, while others can take a few days. However, federal laws are in place regarding how long a bank can wait to clear funds. By understanding this process, you can likely manage your financial life a little better and avoid situations that involve overdrafts or bounced checks.
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FAQ
What is the difference between a cleared balance and an available balance?
A cleared balance (or cleared funds) and an available balance are the same thing — it’s the amount of money in your account that is available for immediate withdrawal or use.
How long does it take to get money cleared?
Some deposits clear as soon as the same day, but most generally clear the next business day. In some cases, though, a deposit can take as long as nine days to clear. Check with your bank to know their timelines.
Can you reverse a cleared check?
Once a check has cleared, there is little that can be done to reverse the transaction. If, however, a cleared check is to be found fraudulent, it may be possible for a bank to intervene.
Photo credit: iStock/RgStudio
SoFi members with direct deposit activity can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit 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, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.
As an alternative to direct deposit, SoFi members with Qualifying Deposits can earn 4.60% 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 4.60% 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 10/24/2023. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.
The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
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.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.
The bond market has a lot on its mind after this past week of economic data and events. Inflation quickly and increasingly looks like it may (finally) be turning the long-hoped-for corner. Timely employment metrics raise questions about labor market softening and Fed speakers are so eager to avoid jumping the gun on rate cuts after the Q1 inflation surprise that traders may wonder if they’ve moved from one side of the center to the other.
Nothing about today will change or inform any of that, it seems. We might have hoped that Import Prices would add to the disinflationary vibes, but alas, bonds actually lost ground after that (though not necessarily because of it. After Consumer Sentiment data also failed to inspire, it’s clear that bonds are checked out for the week and the trades coming in are occurring for reasons that are unrelated to today’s events.
Average mortgage rates edged a little higher last Friday. But that didn’t spoil a good week during which those rates tumbled overall.
Earlier this morning, markets were signaling that mortgage rates today might increase. But these early mini-trends often alter speed or switch direction as the hours pass.
Current mortgage and refinance rates
Find your lowest rate. Start here
Program
Mortgage Rate
APR*
Change
Conventional 15-year fixed
6.445%
6.524%
+0.01
30-year fixed VA
6.962%
7.008%
+0.28
Conventional 30-year fixed
7.007%
7.057%
+0.01
Conventional 20-year fixed
6.774%
6.829%
+0.08
Conventional 10-year fixed
6.377%
6.455%
+0.03
5/1 ARM Conventional
6.612%
7.913%
-0.03
30-year fixed FHA
6.907%
6.953%
+0.2
Rates are provided by our partner network, and may not reflect the market. Your rate might be different. Click here for a personalized rate quote. See our rate assumptions See our rate assumptions here.
Should you lock your mortgage rate today?
Don’t be fooled by recent falls in mortgage rates. It may feel as if those rates have been falling more than rising, not least because they have since mid-April. But there was a sharp rise immediately before the subsequent fall. And, if you go back three months, mortgage rates were lower then than they are now.
Looking across the longer term, mortgage rates remain on an upward trajectory. But, this year, they’ve effectively been moving sideways so perhaps the upward trend is moderating or plateauing.
What we’re not seeing yet are sustained falls. And I judge the chances of falls and rises at roughly 50-50. Would you want to bet on those odds? I wouldn’t.
So, my personal rate lock recommendations remain:
LOCK if closing in 7 days
LOCK if closing in 15 days
LOCK if closing in 30 days
LOCK if closing in 45 days
LOCKif closing in 60days
Of course, don’t lock your rate when mortgage rates look likely to fall. My recommendations are based on longer trends. And, within those, there will be rate-friendly days and longer periods that you can take advantage of.
With so much uncertainty at the moment, your instincts could easily turn out to be as good as mine — or better. So, let your gut and your own tolerance for risk help guide you.
>Related: 7 Tips to get the best refinance rate
Market data affecting today’s mortgage rates
Here’s a snapshot of the state of play this morning at about 9:50 a.m. (ET). The data are mostly compared with roughly the same time the business day before, so much of the movement will often have happened in the previous session. The numbers are:
The yield on 10-year Treasury notes climbed to 4.29% from 4.22%. (Bad for mortgage rates.) More than any other market, mortgage rates typically tend to follow these particular Treasury bond yields
Major stock indexes were falling this morning. (Good for mortgage rates.) When investors buy shares, they’re often selling bonds, which pushes those prices down and increases yields and mortgage rates. The opposite may happen when indexes are lower. But this is an imperfect relationship
Oil prices ticked down to $79.05 from $79.07 a barrel. (Neutral for mortgage rates*.) Energy prices play a prominent role in creating inflation and also point to future economic activity
Goldprices decreased to $2,337 from $2,346 an ounce. (Neutral for mortgage rates*.) It is generally better for rates when gold prices rise and worse when they fall. Because gold tends to rise when investors worry about the economy.
CNN Business Fear & Greed index — inched down to 38 from 40 out of 100. (Good for mortgage rates.) “Greedy” investors push bond prices down (and interest rates up) as they leave the bond market and move into stocks, while “fearful” investors do the opposite. So, lower readings are often better than higher ones
*A movement of less than $20 on gold prices or 40 cents on oil ones is a change of 1% or less. So we only count meaningful differences as good or bad for mortgage rates.
Caveats about markets and rates
Before the pandemic, post-pandemic upheavals, and war in Ukraine, you could look at the above figures and make a pretty good guess about what would happen to mortgage rates that day. But that’s no longer the case. We still make daily calls. And are usually right. But our record for accuracy won’t achieve its former high levels until things settle down.
So, use markets only as a rough guide. Because they have to be exceptionally strong or weak to rely on them. But, with that caveat, mortgage rates today look likely to rise. However, be aware that “intraday swings” (when rates change speed or direction during the day) are a common feature right now.
Find your lowest rate. Start here
What’s driving mortgage rates today?
This week
Seven senior Federal Reserve officials have speaking engagements today and tomorrow. And they may try to correct any misapprehensions markets still have following last Wednesday’s Fed events.
The Fed made it pretty clear then that it expected to make only one cut to general interest rates during 2024. But markets are already second-guessing that, with the CME Group finding investors reckon there’s a 70% chance of two such cuts.
That explains markets’ muted reaction to last week’s pronouncements by the Fed. They simply didn’t believe the central bank’s message.
Investors have a pretty patchy record for second-guessing the Fed. But they’re sometimes correct. If they’re right this time, that could be good for mortgage rates. But, if the Fed sticks to its guns, that could be bad for them.
Today
This morning’s lone economic report is the June Empire State manufacturing survey. I don’t remember the last time that affected mortgage rates so we shouldn’t lose any sleep over it.
There is some economic news around that could influence markets. China’s growth is slowing and its property market is in trouble. And the French snap parliamentary election is freaking out some investors as the possibility of a hard-right party taking power is regarded as economically undesirable.
But the Chinese and French news would normally be helpful to mortgage rates. So, why were those rates rising overnight?
Well, it may be that investors are jittery over tomorrow’s economic data.
Tomorrow
Tomorrow morning, we’re due May data on:
Retail sales — Markets expect sales to edge up by 0.2% from April’s 0.0%
Industrial production and capacity utilization — Markets expect industrial production also to nudge up to 0.4% from April’s 0.0%. And capacity utilization, too, is expected to improve: to 78.6% from 78.4%
So, markets are expecting those numbers to show improvements, which would normally be bad for mortgage rates. But, luckily, those expectations are already baked into mortgage rates. And it’s the gap between those and tomorrow’s actual numbers that could create volatility.
For the best chance of mortgage rates falling, we’d like to see smaller numbers than markets are expecting. Bigger ones could push those rates upward.
The rest of the week
Bond markets are closed on Wednesday for the Juneteenth holiday. So, mortgage rates shouldn’t move that day, and my daily report won’t appear.
I’ll brief you on Thursday and Friday’s economic reports that might move mortgage rates on the day before each appears. But most on the calendar rarely affect those rates.
If you’re hungry for more information about what’s moving mortgage rates, do click through to the latest weekend edition of this daily report. It provides a deeper analysis together with a preview of what to expect in the coming week. It’s published each Saturday morning soon after 10 a.m. Eastern.
Recent trends
According to Freddie Mac’s archives, the weekly all-time lowest rate for 30-year, fixed-rate mortgages was set on Jan. 7, 2021, when it stood at 2.65%. The weekly all-time high was 18.63% on Sep. 10, 1981.
Freddie’s Jun. 13 report put that same weekly average at 6.95%, down from the previous week’s 6.99%. But note that Freddie’s data are almost always out of date by the time it announces its weekly figures. Still, they’re a good way to track trends.
Expert forecasts for mortgage rates
Looking further ahead, Fannie Mae and the Mortgage Bankers Association (MBA) each has a team of economists dedicated to monitoring and forecasting what will happen to the economy, the housing sector and mortgage rates.
And here are their rate forecasts for the last three quarters of 2024 and the first quarter of 2025 (Q2/24, Q3/24 Q4/24 and Q1/25).
The numbers in the table below are for 30-year, fixed-rate mortgages. Fannie’s were updated on May 22 and the MBA’s on May 17.
Forecaster
Q2/24
Q3/24
Q4/24
Q1/25
Fannie Mae
7.1%
7.1%
7.0%
6.9%
MBA
6.9%
6.7%
6.5%
6.4%
Of course, given so many unknowables, both these forecasts might be even more speculative than usual. And their past record for accuracy hasn’t been wildly impressive.
Important notes on today’s mortgage rates
Here are some things you need to know:
Typically, mortgage rates go up when the economy’s doing well and down when it’s in trouble. But there are exceptions. Read ‘How mortgage rates are determined and why you should care’
Only “top-tier” borrowers (with stellar credit scores, big down payments, and very healthy finances) get the ultralow mortgage rates you’ll see advertised
Lenders vary. Yours may or may not follow the crowd when it comes to daily rate movements — though they all usually follow the broader trend over time
When daily rate changes are small, some lenders will adjust closing costs and leave their rate cards the same
Refinance rates are typically close to those for purchases.
A lot is going on at the moment. And nobody can claim to know with certainty what will happen to mortgage rates in the coming hours, days, weeks or months.
Find your lowest mortgage rate today
You should comparison shop widely, no matter what sort of mortgage you want. Federal regulator the Consumer Financial Protection Bureau found in May 2023:
“Mortgage borrowers are paying around $100 a month more depending on which lender they choose, for the same type of loan and the same consumer characteristics (such as credit score and down payment).”
In other words, over the lifetime of a 30-year loan, homebuyers who don’t bother to get quotes from multiple lenders risk losing an average of $36,000. What could you do with that sort of money?
Verify your new rate
Mortgage rate methodology
The Mortgage Reports receives rates based on selected criteria from multiple lending partners each day. We arrive at an average rate and APR for each loan type to display in our chart. Because we average an array of rates, it gives you a better idea of what you might find in the marketplace. Furthermore, we average rates for the same loan types. For example, FHA fixed with FHA fixed. The end result is a good snapshot of daily rates and how they change over time.
How your mortgage interest rate is determined
Mortgage and refinance rates vary a lot depending on each borrower’s unique situation.
Factors that determine your mortgage interest rate include:
Overall strength of the economy — A strong economy usually means higher rates, while a weaker one can push current mortgage rates down to promote borrowing
Lender capacity — When a lender is very busy, it will increase rates to deter new business and give its loan officers some breathing room
Property type (condo, single-family, town house, etc.) — A primary residence, meaning a home you plan to live in full time, will have a lower interest rate. Investment properties, second homes, and vacation homes have higher mortgage rates
Loan-to-value ratio (determined by your down payment) — Your loan-to-value ratio (LTV) compares your loan amount to the value of the home. A lower LTV, meaning a bigger down payment, gets you a lower mortgage rate
Debt-To-Income ratio — This number compares your total monthly debts to your pretax income. The more debt you currently have, the less room you’ll have in your budget for a mortgage payment
Loan term — Loans with a shorter term (like a 15-year mortgage) typically have lower rates than a 30-year loan term
Borrower’s credit score — Typically the higher your credit score is, the lower your mortgage rate, and vice versa
Mortgage discount points — Borrowers have the option to buy discount points or ‘mortgage points’ at closing. These let you pay money upfront to lower your interest rate
Remember, every mortgage lender weighs these factors a little differently.
To find the best rate for your situation, you’ll want to get personalized estimates from a few different lenders.
Verify your new rate. Start here
Are refinance rates the same as mortgage rates?
Rates for a home purchase and mortgage refinance are often similar.
However, some lenders will charge more for a refinance under certain circumstances.
Typically when rates fall, homeowners rush to refinance. They see an opportunity to lock in a lower rate and payment for the rest of their loan.
This creates a tidal wave of new work for mortgage lenders.
Unfortunately, some lenders don’t have the capacity or crew to process a large number of refinance loan applications.
In this case, a lender might raise its rates to deter new business and give loan officers time to process loans currently in the pipeline.
Also, cashing out equity can result in a higher rate when refinancing.
Cash-out refinances pose a greater risk for mortgage lenders, so they’re often priced higher than new home purchases and rate-term refinances.
Check your refinance rates today. Start here
How to get the lowest mortgage or refinance rate
Since rates can vary, always shop around when buying a house or refinancing a mortgage.
Comparison shopping can potentially save thousands, even tens of thousands of dollars over the life of your loan.
Here are a few tips to keep in mind:
1. Get multiple quotes
Many borrowers make the mistake of accepting the first mortgage or refinance offer they receive.
Some simply go with the bank they use for checking and savings since that can seem easiest.
However, your bank might not offer the best mortgage deal for you. And if you’re refinancing, your financial situation may have changed enough that your current lender is no longer your best bet.
So get multiple quotes from at least three different lenders to find the right one for you.
2. Compare Loan Estimates
When shopping for a mortgage or refinance, lenders will provide a Loan Estimate that breaks down important costs associated with the loan.
You’ll want to read these Loan Estimates carefully and compare costs and fees line-by-line, including:
Interest rate
Annual percentage rate (APR)
Monthly mortgage payment
Loan origination fees
Rate lock fees
Closing costs
Remember, the lowest interest rate isn’t always the best deal.
Annual percentage rate (APR) can help you compare the ‘real’ cost of two loans. It estimates your total yearly cost including interest and fees.
Also, pay close attention to your closing costs.
Some lenders may bring their rates down by charging more upfront via discount points. These can add thousands to your out-of-pocket costs.
3. Negotiate your mortgage rate
You can also negotiate your mortgage rate to get a better deal.
Let’s say you get loan estimates from two lenders. Lender A offers the better rate, but you prefer your loan terms from Lender B. Talk to Lender B and see if they can beat the former’s pricing.
You might be surprised to find that a lender is willing to give you a lower interest rate in order to keep your business.
And if they’re not, keep shopping — there’s a good chance someone will.
Fixed-rate mortgage vs. adjustable-rate mortgage: Which is right for you?
Mortgage borrowers can choose between a fixed-rate mortgage and an adjustable-rate mortgage (ARM).
Fixed-rate mortgages (FRMs) have interest rates that never change unless you decide to refinance. This results in predictable monthly payments and stability over the life of your loan.
Adjustable-rate loans have a low interest rate that’s fixed for a set number of years (typically five or seven). After the initial fixed-rate period, the interest rate adjusts every year based on market conditions.
With each rate adjustment, a borrower’s mortgage rate can either increase, decrease, or stay the same. These loans are unpredictable since monthly payments can change each year.
Adjustable-rate mortgages are fitting for borrowers who expect to move before their first rate adjustment, or who can afford a higher future payment.
In most other cases, a fixed-rate mortgage is typically the safer and better choice.
Remember, if rates drop sharply, you are free to refinance and lock in a lower rate and payment later on.
How your credit score affects your mortgage rate
You don’t need a high credit score to qualify for a home purchase or refinance, but your credit score will affect your rate.
This is because credit history determines risk level.
Historically speaking, borrowers with higher credit scores are less likely to default on their mortgages, so they qualify for lower rates.
So, for the best rate, aim for a credit score of 720 or higher.
Mortgage programs that don’t require a high score include:
Conventional home loans — minimum 620 credit score
FHA loans — minimum 500 credit score (with a 10% down payment) or 580 (with a 3.5% down payment)
VA loans — no minimum credit score, but 620 is common
USDA loans — minimum 640 credit score
Ideally, you want to check your credit report and score at least 6 months before applying for a mortgage. This gives you time to sort out any errors and make sure your score is as high as possible.
If you’re ready to apply now, it’s still worth checking so you have a good idea of what loan programs you might qualify for and how your score will affect your rate.
You can get your credit report from AnnualCreditReport.com and your score from MyFico.com.
How big of a down payment do I need?
Nowadays, mortgage programs don’t require the conventional 20 percent down.
Indeed, first-time home buyers put only 6 percent down on average.
Down payment minimums vary depending on the loan program. For example:
Conventional home loans require a down payment between 3% and 5%
FHA loans require 3.5% down
VA and USDA loans allow zero down payment
Jumbo loans typically require at least 5% to 10% down
Keep in mind, a higher down payment reduces your risk as a borrower and helps you negotiate a better mortgage rate.
If you are able to make a 20 percent down payment, you can avoid paying for mortgage insurance.
This is an added cost paid by the borrower, which protects their lender in case of default or foreclosure.
But a big down payment is not required.
For many people, it makes sense to make a smaller down payment in order to buy a house sooner and start building home equity.
Verify your new rate. Start here
Choosing the right type of home loan
No two mortgage loans are alike, so it’s important to know your options and choose the right type of mortgage.
The five main types of mortgages include:
Fixed-rate mortgage (FRM)
Your interest rate remains the same over the life of the loan. This is a good option for borrowers who expect to live in their homes long-term.
The most popular loan option is the 30-year mortgage, but 15- and 20-year terms are also commonly available.
Adjustable-rate mortgage (ARM)
Adjustable-rate loans have a fixed interest rate for the first few years. Then, your mortgage rate resets every year.
Your rate and payment can rise or fall annually depending on how the broader interest rate trends.
ARMs are ideal for borrowers who expect to move prior to their first rate adjustment (usually in 5 or 7 years).
For those who plan to stay in their home long-term, a fixed-rate mortgage is typically recommended.
Jumbo mortgage
A jumbo loan is a mortgage that exceeds the conforming loan limit set by Fannie Mae and Freddie Mac.
In 2023, the conforming loan limit is $726,200 in most areas.
Jumbo loans are perfect for borrowers who need a larger loan to purchase a high-priced property, especially in big cities with high real estate values.
FHA mortgage
A government loan backed by the Federal Housing Administration for low- to moderate-income borrowers. FHA loans feature low credit score and down payment requirements.
VA mortgage
A government loan backed by the Department of Veterans Affairs. To be eligible, you must be active-duty military, a veteran, a Reservist or National Guard service member, or an eligible spouse.
VA loans allow no down payment and have exceptionally low mortgage rates.
USDA mortgage
USDA loans are a government program backed by the U.S. Department of Agriculture. They offer a no-down-payment solution for borrowers who purchase real estate in an eligible rural area. To qualify, your income must be at or below the local median.
Bank statement loan
Borrowers can qualify for a mortgage without tax returns, using their personal or business bank account as evidence of their financial circumstances. This is an option for self-employed or seasonally-employed borrowers.
Portfolio/Non-QM loan
These are mortgages that lenders don’t sell on the secondary mortgage market. And this gives lenders the flexibility to set their own guidelines.
Non-QM loans may have lower credit score requirements or offer low-down-payment options without mortgage insurance.
Choosing the right mortgage lender
The lender or loan program that’s right for one person might not be right for another.
Explore your options and then pick a loan based on your credit score, down payment, and financial goals, as well as local home prices.
Whether you’re getting a mortgage for a home purchase or a refinance, always shop around and compare rates and terms.
Typically, it only takes a few hours to get quotes from multiple lenders. And it could save you thousands in the long run.
Time to make a move? Let us find the right mortgage for you
Current mortgage rates methodology
We receive current mortgage rates each day from a network of mortgage lenders that offer home purchase and refinance loans. Those mortgage rates shown here are based on sample borrower profiles that vary by loan type. See our full loan assumptions here.
Attorneys representing Ginnie Mae and the U.S. Department of Housing and Urban Development (HUD) submitted a motion to change the court venue where a case with Texas Capital Bank (TCB) is taking place, arguing that a contract clause has been violated by TCB’s choice to file the case in Amarillo, Texas, as opposed to Dallas.
This is according to court filings reviewed by HousingWire’s Reverse Mortgage Daily (RMD).
The government contends that by filing the case in Amarillo instead of Dallas, TCB has violated a “forum selection clause” in its tail agreement with Reverse Mortgage Funding (RMF), the agreement at the center of the dispute.
The government contends that by executing a tail agreement with RMF, the bank agreed “that Dallas County, Texas, where TCB is headquartered, would be the exclusive venue for ‘any litigation involving [the tail agreement] or any loan document,’” the filing reads.
“TCB’s lawsuit ‘involve[s]’ both the tail agreement and loan documents […]. TCB was thus obligated to file this suit in Dallas County. TCB disregarded this obligation and chose to file in Amarillo, which has no connection to the litigation.”
The U.S. Supreme Court has previously established that forum selection clauses must be enforced. Despite the agreement being between TCB and RMF, the fact that the bank’s dispute with the government has to do with the tail agreement means that the clause is enforceable in this instance, government attorneys argue.
Other precedent has established that “non-signatories” to original agreements can enforce them “where, under the circumstances, the non-signatories enjoyed a sufficiently close nexus to the dispute or to another signatory such that it was foreseeable that they would be bound,” attorneys said in citing prior case law from the Fifth Circuit Court of Appeals.
Ginnie Mae also owns the assets that are at the heart of the agreement, attorneys said, and the original agreement specified “that TCB’s rights and interests related to the Collateral are subject to Ginnie Mae’s rights.”
The government made the filing Saturday, June 15. As of mid-day Monday, TCB has not filed any motion in reply, although the government specified that the bank was opposed to the motion.
TCB brought its suit against Ginnie Mae in October 2023, alleging the government-owned company had “extinguished, in return for no consideration, TCB’s first priority lien on tens of millions of dollars in collateral” stemming from the [FHA]-sponsored [HECM] program.”
This was after Ginnie Mae allegedly turned to TCB in an effort to avoid “a catastrophic disruption of the HECM program.” In return for lending money to RMF, TCB said it received a first priority lien “on certain HECM collateral,” which the bank described as “critically important” since without it, the only collateral TCB could rely on was a bankrupt company in RMF.
In subsequent filings, Ginnie Mae denied the accusations outside of material facts related to executed agreements between all parties and the regulations governing the HMBS program. While Ginnie Mae sought to have the case dismissed, the presiding judge allowed the bulk of the case to continue and dismissed only small portions of the initial complaint.
Last week, government attorneys requested an extension of the deadline to submit discovery materials relevant to the TCB case from mid-June to mid-July. They said that an ongoing audit from the HUD Office of the Inspector General (OIG), as well as confidentiality concerns, necessitated more time to submit documents to the court record.
The extension request was unopposed and Magistrate Judge Lee Ann Reno approved it on June 13. Late last week, the government filed an extensive collection of documents related to the actions leading up to its seizure of RMF’s servicing operation in December 2022.
After a makeover, Omni Hotel & Resorts’ Select Guest loyalty program is now a spend-based rewards system, with members earning Omni Credits that can be redeemed for hotel stays.
Program members are rewarded for spending more with the brand; big spenders have access to a faster path to elite status and the chance to earn and redeem awards more quickly.
Technically, you can get all the way to its top-tier elite status level through spend alone. Want to host an event or big dinner? Why not do it when checked into the hotel to earn extra Omni Credits?
These changes make its loyalty program more in line with other major hotel loyalty programs in terms of your ability to spend to earn elite status tiers. Here’s what you can expect with the new version of the program.
How to earn Omni Credits
The new program awards Omni hotel points (known as Omni Credits) for qualifying purchases. Examples include eligible room rates, spending at onsite restaurants, bars and spas, and spend on other activities like hotel-run golf courses.
Members earn points at different rates depending on the type of purchase:
Per eligible room rate: Members earn 5-10 Omni Credits.
Per $100 of eligible purchases beyond the room: Members earn 1 Omni Credit.
The higher your elite status, the more Omni Credits you earn. Tier three and tier four levels, called Champion and Icon, earn 10 Omni Credits per night stay instead of five (like the two lower levels).
🤓Nerdy Tip
If your spending beyond the room rate doesn’t reach the minimum $100 increment, you won’t earn extra on the non-room spend. What’s more, this total does not round up. If you spend $199 on hotel dining, you’d earn only 1 Omni Credit — not 2 — unless you exceed the $200 mark.
Elite status tiers
Omni’s Select Guest loyalty program has four tiers of status: Member, Insider, Champion and Icon. Status is earned by qualifying spending with the brand and can be unlocked at $1,000, $4,000 and $8,000 spend levels, or “Tier Dollars.” Tier Dollars include most charges to the room except taxes, gratuities and fees.
Member
General members receive these benefits:
Free deluxe Wi-Fi.
Free bottled water and a welcome drink upon arrival.
Earn 5 Omni Credits per room night.
Earn 1 Omni Credit per $100 of other hotel purchases.
Insider
Once you spend at least $1,000 in Tier Dollars within the calendar year, you advance to tier 2, the Insider level.
Insider benefits include:
Earn 5 Omni Credits per room night.
Earn 1 Omni Credit per $100 of other hotel purchases.
Free deluxe Wi-Fi and bottled water upon arrival.
Daily beverages comped by the hotel.
Two complimentary clothing items pressed or two shoeshines during the stay.
Champion
After you spend $4,000 in Tier Dollars within the calendar year, you will level up to Champion status.
Champion benefits include:
Earn 10 Omni Credits per eligible room night.
Earn 1 Omni Credit per $100 of purchases.
Free one-room-type upgrade.
Check-in as early as 1 p.m.
Checkout as late as 3 p.m.
Free bottled water each day.
Daily beverage delivered in the morning.
Four complimentary items pressed or four shoeshines.
Local market amenity provided upon arrival.
Guaranteed room availability if checking with the hotel at least 24 hours before arrival.
Icon
This is the top-tier level within the program and is for guests who spend at least $8,000 in Tier Dollars within the calendar year.
Icon benefits include:
Earn 10 Omni Credits per eligible room night.
Earn 2 Omni Credits per $100 of purchases in addition to the room spend.
Free premium Wi-Fi.
Free two-tier room upgrade.
Check-in as early as 9 a.m.
Checkout as late as 6 p.m.
Suite upgrade on redemption stays.
Guaranteed room availability by 4 p.m. on the day of arrival (available for one room per member).
Turndown housekeeping service.
Free bottled water daily.
Daily beverage delivered each morning.
Unlimited complimentary clothes pressing and shoeshines.
Chef-inspired welcome amenity/snack plus the choice of beverage the first night of the stay.
Ability to gift Champion status to another member.
It’s clear that the more business you do with Omni Hotels & Resorts, the more benefits you will receive when achieving different elite status tiers.
How to redeem Omni Credits
Once you earn 100 Omni Credits (or 20 stays at the lower two status levels), you can redeem them for a night’s stay.
There are no complex award charts or dynamic pricing for your award redemptions, and Omni Credits are valid for 36 months from the date of earning.
🤓Nerdy Tip
When the program changed in January 2024, it converted existing Award Credits to Omni Credits at the rate of 1:5.
Omni Select Guest gives more rewards for frequent travelers (and spenders)
The more you spend with Omni, the faster your path to elite status and free night redemptions. These changes to the program make it more rewarding and put it more in line with other hotel loyalty programs. By spending $8,000 with the brand within a calendar year, you will reach the program’s highest elite status tier, Icon. 100 Omni Credits will net you a free award night, which can be redeemed on non-blackout dates at any of the 50+ Omni destinations in the U.S.
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