For nearly 30 years, Deion Sanders has been a recognizable name in the sports world. He’s made headlines again this summer after being named the new head football coach at the University of Colorado Boulder and subsequently undergoing a roster overhaul that resulted in the departure of 81% of last year’s roster.
A majority of the exits were made after Sanders and the coaching staff audited the roster and determined it wasn’t optimized for the desired productivity and results. This move has paid off as three weeks into the 2023 season (as of this writing), the Colorado Buffaloes were 3-0 and hosted ESPN’s College GameDay.
Similarly, many lenders are currently auditing their roster of vendors and technologies to optimize productivity and return on investment (ROI).
One of the more commonly used metrics to determine a lender’s ROI is the per-loan pre-tax net production income, and the biggest factors impacting this metric are production volume in both dollars and units. Closing fewer loans means the production costs are spread out over fewer units, thereby increasing the production cost per loan.
Since peaking at $5,535 in Q3 2020, thanks to historically high production volume, the per-loan, pre-tax net production income for independent mortgage bankers (IMBs) has been falling. The most recent report from the Mortgage Bankers Association (MBA) shows that IMBs lost an average of $534 per loan in Q2 2023. The good news is that the last two quarters have shown steady improvement from Q4 2022.
For many lenders, priorities for this year include migrating their systems to the cloud and increasing production volumes, lead generation efficiency and productivity, which includes engaging business intelligence (BI) tools that can provide insights necessary when making staffing decisions. And they’re making sure they have the technologies to do so.
A very common sentiment in the industry is that now is the time to double down on implementing new tech because lenders have the time to focus on it. Obviously, that is a great mindset for vendors, but it isn’t really a great course of action for lenders because most are trying to decrease costs, not increase them.
Conduct a tech stack audit as a first step
As well as tabling tech stack additions initiated during the pandemic, lenders are reevaluating their current tech stack compositions, looking for areas where they can cut costs without sacrificing productivity or efficiency.
When auditing a tech stack, there are several factors to consider beyond immediate cost savings. These factors include the need the tech satisfies, the usefulness of the tech, operational errors, utilization, system functionality and vendor deficiency.
The objective of a tech stack audit is to consolidate, optimize and replace unnecessary tech. The benefits of considering these factors during a tech stack audit include reducing software redundancies, streamlining back-end processes, maximizing the advantages of integration, minimizing billing issues, decreasing the need for additional employee training and improving data flow.
While every lender will have unique considerations during a tech stack audit, there are basic steps that should be taken to realize the potential benefits of the audit. The first step in any audit is to compile a list.
It’s basically impossible to conduct a successful tech stack audit without knowing every software currently in it. This list should also be compared to accounting records to ensure that all tech is accounted for while verifying the current spend on each tool.
Analyze the audit to take decisive action
Once the tech stack list has been compiled, or as the list is compiled, it’s time to expand the data set associated with each technology.
This includes information such as the department(s) that use the software, type of software, features and functionalities, total number of users, definition of an active user, number of active users, annual cost and relevant integrations.
Lenders can also use this time to survey employees on why they do or do not use particular tools and the qualitative and quantitative impact of each tool.
With this information in hand, it becomes easier to determine the value each software brings, if there are better solutions on the market and how it affects the customer experience.
This information provides lenders with a greater understanding of the effectiveness of each technology, where there are overlaps in functionalities and the adoption rate of the technology within the organization.
Having these factors analyzed with the same criteria allows lenders to determine where to make cuts and improve efficiency by eliminating redundant, outdated and unused software.
A leaner tech stack should improve ROI, streamline business
As lenders slim down their tech stacks, they should quickly see increases in their ROI. This will typically result from a combination of several factors. Reducing expenses should positively impact the profit and loss statement (P&L), including showing a net increase in revenue.
A leaner tech stack will help streamline training for new employees and clearly outlining the benefits and features of each tool should also lead to increased adoption by existing employees. A greater understanding of a tech stack’s offerings and how to maximize the benefits and efficiencies of each tool will improve employee satisfaction and provide a better customer experience.
By reducing a tech stack’s offerings, lenders also mitigate risk by minimizing software entry points, passwords and data access, keeping data and back-end processes clean and reducing the potential for quality control issues by eliminating software redundancies.
With much of the mortgage process reliant on the software in a lender’s tech stack, it’s improbable that a lender will see a reduction in their tech stack roster like the one orchestrated by Coach Sanders.
Unlike the Colorado football team, though, lenders shouldn’t be looking to build a new tech stack from scratch, but they can make winning moves with their tech stacks. Lenders should focus on increasing production volumes, operational efficiencies and profits. With these goals in mind, they should be able to easily reach their desired results of a tech stack audit.
It can be a little overwhelming to choose the right Diwali decorations for your home, especially if you are on a budget. Finding the right decor items for your home that will beautify your space and be affordable can be difficult to find. However, online shopping platforms like Amazon offer a wide range of home decor items at affordable prices.
Here are some decor items to consider buying for your home this Diwali which will cost under ₹500.
Scented candles
Scented candles are an absolute delight to have at home, especially around Diwali. Scented candles create a calm aura and enhance the atmosphere around them. They will also light up your home during Diwali with their subtle and soft warm light. Their price starts from as low as ₹150.
Cage Lanterns
If you are into aesthetics and that is something you love to decorate your room with, cage lanterns are a great decor item to have this Diwali. You can get these metal cage lanterns and decorate them with fairy lights, bulbs and even artificial vines and flowers. Their price starts from ₹250.
Don’t Miss: Diwali Shopping: Your Go-To Checklist For Festive Home Decoration
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Jute Carpet
If you are looking for something to spruce up the floors of your living room for a low cost, jute carpet (How To Clean Carpet) will work great for you. These are easy to clean and maintain and look boho. These will enhance the look of your living room area giving it a classy look. You can get these from Amazon for as low as ₹300.
Wind Chime
There was a time when wind chimes used to be in fashion. These beautiful decor pieces are hung on the door frame and windows. Whenever the wind blows or someone passes through, these chimes make soothing sounds. You can buy a variety of wind chimes from online shopping platforms for as low as ₹100.
Don’t Miss: Diwali: Here Are 5 Markets In Delhi NCR To Buy Aesthetic Decor Items
Wall Hanging
Wall hangings are very much in fashion these days. You can buy different kinds of wall hangings to decorate your bland and simple walls to enhance their beauty. These wall hangings come in the forms of paintings, scrolls and even mirrors. Their price range begins from ₹200 and you can buy them from any e-commerce platform.
Inside: Do you want to make money online fast? If so, we’ll discuss the best digital products to sell on Etsy. By following these steps, you’ll be on your way to making money selling digital items quite easily.
Do you want to learn how to sell digital products on Etsy and make money through it?
Selling digital products offers an exciting avenue for generating passive income. With their low production and distribution costs, high profit margin, and potential for scalability, they stand as a lucrative business model for many entrepreneurs.
Moreover, once a digital product is created, it can continuously bring in revenue without the need for additional production costs, making it an appealing source of passive income.
The key to being a successful Etsy seller is to understand your chosen niche and what your audience wants.
We will dive into digital products you could sell on Etsy which range from arts & crafts to business materials.
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.
What are Digital Products?
Digital products are items that are accessed and delivered electronically, examples of which include software, ebooks, online courses, digital music, video, and audio files.
These intuitive products offer the versatile benefit of being easily reproduced and instantly accessible on various devices, without the requirement of physical storage or shipping. Plus the world is moving towards becoming digital anyway.
In creating digital products, businesses aim to capitalize on customer appeal and convenient delivery, which often complement their physical goods or services.
Why Sell Digital Products on Etsy?
Selling digital products on Etsy offers an incredible opportunity to showcase and monetize your unique creations. With Etsy’s vast online marketplace and its millions of potential customers, it has become a preferred platform for artists, designers, and content creators.
Furthermore, it provides the flexibility to set your prices in accordance with the value you offer and experiment with different pricing strategies.
This is a hassle-free way to monetize your creativity. Here’s why:
You craft it once, it sells eternally: Digital products offer the ultimate advantage of a “create once, sell forever” model. Imagine sipping a cup of tea while your creation secures sales one after another.
Resource-friendly: Bid adieu to the restrictions of shipping, storage, or material costs. Instead, welcome the comfort of financial freedom and resource efficiency.
Everlasting stock: Digital products on Etsy never run out! Say goodbye to inventory issues and overselling, which makes it a smart choice for long-term business.
So, start now by creating an account, picking your digital product, setting up shop, and starting selling on Etsy. With no heavy fees and no botheration of shipping.
Just pure creative power leads to sheer earning happiness.
What digital products sell the most on Etsy?
Well, our data shows that digital prints, planners, stickers, fonts, and children’s educational materials are some of the best-selling categories netting serious cash on this creative marketplace. This information came from Cody and Julie – the founders of the e-Printables course.
Typically, seasonal content always does well on any platform. Same with current trends like the “Barbie” craze.
These products are a creative enthusiast’s goldmine owing to their limitless customization capabilities, instant delivery, and cost-effectiveness.
Wherein, most busy professionals, students, parents, and small business owners find them irresistible due to their convenience and adaptability to suit specific needs and tastes.
To learn more about selling on Etsy, I highly recommend connecting with Cody and Julie in their free webinar.
What digital download sells best on Etsy?
Among the myriad of digital products available,digital prints notably rank as one of the best-selling downloads on Etsy, closely followed by other popular items such as:
digital planners
logo designs
travel guides
business card designs
Lightroom presets
printable invitations.
A beautiful synergy of convenience, utility, and aesthetics, that can be printed at home or in a local print shop, whenever you wish. Perfect for last-minute gifters, DIY décor enthusiasts, or anyone looking for hassle-free beautification!
So, staying in the game, consistently monitoring market trends, and adapting accordingly is the key to successfully selling your digital prints on Etsy.
Best Digital Products to Sell on Etsy
The best digital products to sell on Etsy depend upon various factors, such as your skills, customer interests, and specific market trends.
It is also important to keep an eye on high-sales products, check positive reviews, track favorites, and note recurring themes to understand what customers are looking for and to guide your digital product offerings. This is a quick way to make 300 dollars fast.
Here are the examples of some of the best digital products you might want to sell on Etsy:
1. Printable or Digital Planners
You’ve hit the jackpot if you’re contemplating selling printable or digital planners on Etsy. Some people might say digital or printable planners are seasonal but due to the high demand and flexibility, it could be the golden goose for your marketing on Etsy.
Buyers love and enjoy the tailored usability offered by printable planners, which they can customize to their requirements and physically pen in their plans.
You can supply this demand by offering a large variety and aesthetically pleasing designs.
Tip: Try bundling in different types of stickers for a snappier offer.
2. Craft Patterns
Craft patterns are a top-ranking digital product on Etsy, thanks to a revival of all things crafty!
From knitting and crocheting to sewing and embroidery, these digital masterpieces cater to the abundant trend-setters and hobbyists who frequent Etsy.
To truly get your digital craft patterns thriving on Etsy, remember to follow the trail blazed by successful pattern sellers like these Etsy sellers. These crafts start from an average selling price of $10, making them a lucrative venture for creatives.
Lastly, don’t forget to unleash SEO magic – get your product seen by the right people especially when creating a sewing pattern or crochet pattern. This can be your missing element for transforming hard work into hard sales!
3. Children learning materials
Looking for a profitable side gig? Selling children’s learning materials on Etsy is wildly popular and well-needed especially for those homeschooling.
Parents and teachers are snapping up digital educational resources. By marketing printable lesson plans, colorful flashcards, and engaging worksheets, parent is hyped to supplement their children’s education.
This is a great summer job for teachers because your educational resources might just be the next best-seller on Etsy.
Crack open those lesson plans, as your Etsy store awaits.
4. Wallpapers
On Etsy, phone wallpapers are the new moneymaker. Provide colorful ways for customers to personalize their devices, these digital beauties are a hot ticket item.
To catch the widest net, cater to both phone and desktop users. You must keep up with trends. Also, creating wallpapers for Apple watches and other high-tech gadgets or themed designs for holidays is always a hit.
It’s a simple concept: stylish wallpapers have an average selling price of around $3-4.
5. Calendars
Venture to sell digital business calendars guarantees a steady demand, as planning isn’t just a phase – it’s woven into the fabric of daily life. To get started, unlock your artistic prowess with any digital art program like Adobe Photoshop or Canva.
Begin creating your unique touch on calendars, ensuring they’re editable pre-print- a clear selling point. Remember, quality trumps all – prioritize visually appealing designs with user-friendly formats.
Time to turn dates into dollars. Listing calendars in your Etsy shop certainly won’t go out of style or demand. Also, aim for the $5 – $10 price range to hit the sweet spot of affordability and profitability.
6. Invitations
Invitations are among the top-selling digital items on Etsy.
Customizable templates for various occasions like weddings, parties, baby showers, and more are particularly popular. It’s perfect for creative individuals skilled in design who are looking to turn a profit on their talents.
These digital products can provide a meaningful revenue stream. Some creators can charge up to $20 per customized item.
The bottom line is that selling digital invitation templates on Etsy doesn’t just allow for creativity, but it’s also a lucrative business opportunity.
7. Business cards
Catering to the surge of remote entrepreneurs and the timeless need for personal cards, this trend is something to tap into.
You can offer editable, customized, or even smart cards – with features like one-click phone calls or emails – which can give your shop an edge.
Through Canva or Wepik, you can design exotic templates, offering customers the control to personalize before printing. Turn on your creative juices, let your brand shine, and step up your entrepreneurial ladder with a business card template.
8. Wedding Invitations and Printables
To be honest, I actually created my best friend’s wedding invitations. Maybe, I should have stuck with the side gig to make 500 dollars fast?!?
Wedding printables are now the ‘go-to’ digital products. This isn’t just about a cute ‘Save the Date’; offers a hassle-free, all-in-one wedding stationery solution, ready to match every wedding theme under the twinkling lights.
Help the DIY couples by providing a bundle: wedding program, customized hashtag sign, table place cards, save-the-date cards, and even personalized portrait options with a delightful sign thrown in.
You can provide a seamless experience and watch the sales ring along with the wedding bells.
9. Journal Inserts
Are you a fan of journaling or love designing layouts? Well, it’s time you converted your passion into profit. Making journal inserts is one of the smartest digital products you can sell on Etsy.
Audiences vary from educators needing organized lesson and homework schedules or those seeking self-help and discovery questions.
For optimal selling, focus on providing a variety of designs and including white spaces for personal touches.
With an average selling price of $5, they appeal to smart shoppers who prefer to print inserts on cardstock paper.
10. Digital artwork
Digital artwork stands out in popularity due to the unique customization and selection variety it offers.
Customers are drawn to the ability to choose from diverse art forms, including watercolor illustrations, inspirational quotes, and Baltic or Bohemian prints, that perfectly align with their personal aesthetic or represent an emotion they resonate with.
Moreover, the availability of immediate prints post-purchase greatly increases the convenience and appeal of this artwork form.
11. Recipe cards
Do you love cooking and want to create delightful digital recipe cards for your customers? But, don’t stop there, look at creating a meal planner to bundle with!
A printable, editable canvas for food aficionados brimming with delicious details of recipe cards is a great product. These digital delights are perfect for amateur chefs, bakers, and recipe bloggers.
The takeaway is clear. Selling recipe cards on Etsy is as facile as slicing butter, once you’ve got the right ingredients and the perfect recipe. It’s time to turn the heat up on your Etsy store and dish out some delightful recipe cards.
12. Social media templates
Creating social media templates can provide significant value for businesses and influencers seeking to establish a professional and cohesive online presence.
These templates, which can include pre-designed Facebook banners, Instagram stories, Twitter headers, and more, can be customized to fit a variety of themes such as minimalism, boho, or pastel colors.
When well-crafted, such templates can save businesses valuable time and effort while also helping maintain consistent brand imaging across different platforms. This is similar to a business hiring a virtual assistant with no experience.
e-Printables Free ebook
Curious about selling printables on Etsy but don’t know where to start?
Get the secret list of best-selling products by month and learn you how to capitalize on seasonal trends to make sales.
Download Now
13. Printable Cake and Party Decorations
Selling printable party decorations as digital products on Etsy is like icing on the proverbial cake for smart entrepreneurs.
You can focus printable party decorations from charming cartoon-themed toppers for kids’ birthday cakes to exquisite, romantic pieces for weddings and anniversaries.
Whether you’re creatively inclined or have an entrepreneurial spirit spotting potential, these printables offer a loophole to financial growth. Bundle your decorations based on themes for enticing offers.
14. Zoom background
Thanks to the surge in remote working and virtual meetings selling incredible Zoom backgrounds on Etsy has emerged as a lucrative product in the digital landscape.
These tailored digital backdrops not only enhance the visual appeal of online interfaces but also cater to users’ needs to maintain privacy or conceal unorganized spaces.
However, you need to understand that creating Zoom backgrounds may not be beginner-friendly due to the required customization. However, do not let this intimidate you.
15. Productivity Trackers
People are constantly in search of practical, user-friendly tools to streamline their lives and make every hour count.
So, these productivity trackers are supremely versatile, covering daily routines, budgeting, goal setting, project management, and even grocery lists. Make your Etsy shop the one-stop shop for everyone’s needs.
As it becomes an increasingly popular choice to shift focus towards maximizing effectiveness in people’s daily lives. Whether it’s maintaining a workout routine, tracking investments, or staying on top of a student’s study schedule, these trackers cater to a wide assortment of needs.
16. Lightroom Presets
Lightroom Presets are essentially preset configurations that enhance a photo’s aesthetics, and folks from influencers to amateur photographers are keen to have them.
For starters, it caters well to the Instagram-obsessed demographic continually seeking to elevate their photo game. This venture is best suited for those who have a knack for photo editing and an understanding of aesthetics.
With an average selling price of $10, the numbers tip favorably in your Lightroom presets.
17. Etsy shop banners
Help out your new Etsy sellers by designing an impressive storefront with their shop banner.
Indulge your Etsy shop banners in various design themes suitable for a wide range of stores. Also, include a shop kit that makes store icons, a large and small banner, custom and reserved listing templates, and a profile picture graphic.
Promote your banner designing prowess to other sellers, so that you increase your brand awareness along Etsy.
When you have an awesome shop yourself, you are more likely to get sales!
18. Logos & branding kits
Move over, clip art! Logos and branding kits are in high demand as they fulfill the crucial need of every business that is striving for a unique identity.
Bundle your logos and branding kits or offer them individually to maximize your reach. Also, combining them with other digital products like media kit templates elevates your shop’s appeal.
This caters to diverse clients from Etsy sellers to businesses, influencers, and bloggers. Selling in this segment, you’ll never run short of market demand. Get ready to impress with your graphic skills, and ride the wave of this profitable venture on Etsy.
19. Thank you cards
This is a timeless product that is regularly used by businesses and individuals to express their gratitude.
Offering these thank you cards in digital, customizable formats can attract more buyers due to ease of customization and competitive pricing relative to store-bought alternatives.
You can also sell the same design on physical cards if you want for another revenue stream.
20. Fonts
In the world of businesses, creators, and crafters galore are on a relentless hunt for the perfect font that suits their needs. Where versatility is a font’s middle name – they can jazz up a brand’s website or add pizzazz to a party invitation.
Cricut fonts, in particular, are best-sellers. It is specially crafted for Cricut machines – a hit in the Etsy community of designers and makers.
Remember, the devil is in the (font) detail. Jump into the journey of digital font selling on Etsy and watch your typography turn into a treasure in no time.
21. Resume templates
Resume templates are handy, well-designed digital products are reportedly perfect for professionals keen on making their job applications stand out. It is mostly designed to suit particular sectors such as real estate or marketing.
After all, a well-structured resume could be the golden ticket to someone’s dream job – like one of these low stress jobs that pay well without a degree.
However, in my personal experience, the most successful templates are clean, professional, and neutral in color.
22. Invoice templates
You might think that cashing in invoice templates may seem odd, but these digital products offer ample sales potential on Etsy!
Their charm lies in their simplicity and frequently used nature by a wide range of businesses. Small business owners, short on time and design skills, frequently scout Etsy for professionally designed, eye-catching invoices – duly making it your prime market.
Transform invoice templates into a goldmine, with less likelihood of running into steep competition. With an average selling price of $10, you can surely earn money online quickly.
23. Website templates & themes
Are your web design skills a cut above the rest?
Leveraging your skills to create and sell website templates and themes on Etsy, and turn your talent into a tidy profit. This digital product must be customization-friendly with a range of applications, and cater to a broad audience—from small businesses to in-demand bloggers, giving them a sleek, professional online presence minus the design headache.
Begin by focusing on creating templates on popular website-building platforms like WordPress with a Kadence WP Theme. Make sure they serve a specific market, like photography websites or eCommerce stores, and ensure your products have unique, eye-catching designs that set them apart from the sea of competitors.
Remember, if your themes and templates are more unique and tailored. You can command, sometimes get a range of your product to $50.
24. Stickers
Stickers, both physical and digital stickers, are hot commodities on Etsy, cozily nestled among the platform’s top-selling items.
It also appeals to a large market spectrum, from social media users who love accentuating their chats with digital stickers, to fans of physical stickers decorating their belongings.
Remember, one major selling point is the editability of digital stickers, enabling customers to customize after purchase. Dial your creativity, pick a distinct theme, and roll out your sticker sets on Etsy – there’s a world waiting to stick onto your designs!
25. Bookmarks
Feeling bookish? Get your create-on and cash in on the thriving trend of selling digital bookmarks on Etsy.
Digital bookmarks, at a modest cost of $2 – $3 a pop, are gaining popularity as one of the easiest and fastest-selling digital products, thanks to their charm, practicality, and customized appeal.
Create an aesthetic touch on your reading escapades by hitting the serious tribe of bookworms. To amp up your sales and earn money quickly, don’t forget to add “personalization” options to your bookmarks.
26. Editable flyers
As demands surge, these feature-rich editable flyers become ideal for crafty entrepreneurs aiming to make a profit.
Most of your clients will be large markets comprising event organizers, business owners, and individuals who find convenience in ready-made editable materials.
Success in selling editable flyers on Etsy lies in understanding your target clientele’s needs, creating versatile and appealing designs, and offering top-notch quality. Kickstart your venture by preparing a wide range of attractive editable flyers.
27. Menu templates
Fresh out of the oven, menu templates are popular with restaurant owners to party planners who crave these editable, print-ready goodies.
These menu templates are flexible and can be tailored for cafes, restaurants, weddings, and even small business events. Therefore, begin by creating captivating designs–uniqueness sells and is editable for everyone who wants to customize it.
So preheat your digital oven – it’s time to serve up some mouth-watering menu templates on Etsy.
28. Gift tags
Digital gift tags on Etsy could light up your entrepreneurial path. With an average selling price of $5, these little printables have a big demand, particularly for special occasions like weddings and birthdays.
Ideal for individuals and businesses, this product can fit a myriad of needs from Christmas presents to children’s party favors. If you want to maximize your profits, focus on offering a wide range of designs that target different occasions and tastes.
Don’t forget to consider making a customization service that gives your customers a chance to tweak and add their personal touches.
29. Ebook Templates
Ebook templates have emerged as one of the most popular digital products on Etsy.
Beyond individual ebooks, sellers also offer a variety of creatively designed ebook templates, ebook covers, and materials for children’s books. With a target audience interested in arts and crafts, informative ebooks offer exceptional sales potential, especially those that provide professional knowledge in specific niches like graphic design or online money-making tips.
e-Printables Free ebook
Curious about selling printables on Etsy but don’t know where to start?
Get the secret list of best-selling products by month and learn you how to capitalize on seasonal trends to make sales.
Download Now
30. Fitness Trackers
Fitness trackers‘ popularity is booming as they cater to a wide array of tracking necessities beyond just gym visits or step counting.
This product helps monitor weight loss programs, home workout plans, and 30-day challenges, effectively, becoming a one-stop-shop for holistic wellness.
They are ideal for those aiming to enhance their fitness, sleep quality, and overall productivity. With an average selling price of $5, they offer an affordable solution to digital tracking needs.
31. Debt Payoff Trackers
Debt payoff trackers are fundamental tools for efficient financial management and debt reduction. They provide a concrete visual of one’s financial obligations and illustrate the progress made toward extinguishing each debt.
This encourages a consistent habit of payment and propels individuals towards financial freedom. However, cost should not be a barrier to good financial habits, which is why our website offers a wide range of high-quality debt payoff trackers completely free of charge.
While these are still popular on Etsy, you have to realize many people want free or extremely cheap.
32. SVG Files for Cutting Machines
Scalable Vector Graphic (SVG) files for cutting machines like Circut or Silhouette, are a crafter’s dream, making them a top-tier product to sell.
You can elevate your service by including a PDF tutorial or short video guide demonstrating the use of your product.
Ensure the functionality of your products by carrying out tests prior to listing.
33. Personalized Recipe Books
Being a foodie’s ultimate treasure, these recipe collections are perfect to tickle the taste buds of amateur cooks or pro food bloggers. Plus you can create recipe book templates to be used in Goodnotes or Notability.
Cultivate your online presence to spice up the sales of your digital recipe books.
From personal experience, I bought a digital recipe book because I didn’t want to create one myself.
34. Budget Planners
Budget planners are soaring in popularity, with these nifty tools averaging quite a tidy sum of $5-20 each. Its powerful design is both lucrative for sellers and beneficial for buyers.
In an increasingly digital world, these planners provide a seamless way to stay and stick on top of your finances. From the ordinary individual aspiring to save a penny or two to the business owner meticulously monitoring their profits and expenses. Some budget planner pros, like FRGLMAMA, have made over 60,000 sales!
Here’s a pro tip: Increase your profits by bundling your budget binder with envelopes and to-do lists. Users love the convenience and it saves them a search.
35. Wall Art
Calling all artists and designers with flair! Wall Art reigns supreme on Etsy – proving it’s not just a ‘dabbling’ industry, but a potential goldmine.
Remember, the ‘Home Sweet Home’ and ‘Be Kind’ style arts still hold their charm! Maximizing profits can entail providing add-on services such as printing and shipping.
Wall art downloads make great posters, especially for those who prefer to change up their decor often.
36. Gratitude Journal
Gratitude journals, with their guided prompts and questions, make hot picks for those striving for self-improvement or simply savoring the good in life. This little gem, flourishing in popularity, provides a thoughtful juncture for folks to reflect on the positive aspects of their lives.
This digital product is tailored for therapists, life coaches, stressed corporate followers, or anyone looking to light up their lives with gratitude.
Make sure to use keywords related to gratitude and journaling in your product description to maximize visibility.
37. Self Improvement Printables
People love these printables for their blend of practicality and inspiration by giving actionable tips, uplifting affirmations, useful trackers, and more.
These self-improvement printables are timely digital products that strike a chord with a growing audience keen on personal growth, self-care, and organization.
This product is perfect for those seeking self-help workbooks, motivational quotes, fitness planners, and even kid-friendly educational materials.
Is selling digital products on Etsy still profitable?
According to legions of online entrepreneurs, the answer is a resounding YES!
As the market for digital products keeps on growing, so does the profit potential for digital sellers on Etsy.
The startup costs are delightfully low – most of what you’re paying is merely for your product’s licensing and Etsy fees. After that, it’s all pure profit!
This method could be your ticket to financial freedom. So if you’re a creative at heart with a knack for producing digital gems, it’s high time you join the Etsy bandwagon to sell your valuable creations.
Etsy passive income isn’t just a haven for handcrafted goods – it’s also a hub for downloadable products from design templates to educational materials.
e-Printables Free ebook
Curious about selling printables on Etsy but don’t know where to start?
Get the secret list of best-selling products by month and learn you how to capitalize on seasonal trends to make sales.
Download Now
Now, What Digital Downloads to Sell on Etsy?
By now, you’ve embarked on an enlightening journey around the process of selecting digital products to sell. You have digested tips, explored examples, and refined your knowledge regarding your market, skills, and customer desires to ensure profitability.
So, let’s cut to the chase, find your product that fits the mold, craft an appealing product description, price it competitively yet profitable, and start making waves with your expertise in the digital market.
By coupling this post with the free training offered, you could be the next seller with digital products that are the next hotcake on Etsy! Will you be the next Etsy seller to learn how to make 10k a month?
Take your first step towards this entrepreneurial journey, and soon enough you could be reaping the sweet profits of your digital endeavor.
Now, start your listings and remember to believe what you have to offer is worth buying.
E-Printables Course
Are you ready to start selling on Etsy? Great!
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The nation’s largest home builder, D.R. Horton, also has its own affiliated mortgage lender known as “DHI Mortgage.”
Recently, new home sales have surged in popularity due to the mortgage rate lock-in effect.
Essentially, existing homeowners aren’t selling their properties because they’ve got ultra-low fixed interest rates on their home loans.
At the same time, mortgage rates have surged higher, resulting in big financing incentives from home builders to move their newly-built home inventory.
Let’s take a hard look at what DHI Mortgage has to offer and whether an in-house lender is the way to go.
DHI Mortgage Fast Facts
Full service mortgage lender offering home purchase loans and refis
Founded in 1997, headquartered in Austin, Texas
Parent company D.R. Horton is the nation’s largest home builder
Publicly traded company (NYSE: DHI)
Also operate DHI Title and D.R. Horton Home Insurance Agency
Aim to be a one-stop shop for newly-built home buyers
Funded roughly $20 billion in home loans during 2022
Most active in the states of Texas, Florida, and California
Licensed to do business in 34 states
DHI Mortgage is a full-service mortgage lender owned by parent company D.R. Horton.
They were founded in 1997 and are headquartered in Austin, Texas.
D.R. Horton is the largest home builder in the United States, slightly bigger than competitor Lennar, which also has a captive mortgage company called Lennar Mortgage.
The home builder got its start back in 1978 when Don R. Horton built his first home in Fort Worth, Texas.
Since then, the company has grown into a near-$35 billion dollar company that is publicly-traded on the New York Stock Exchange (NYSE: DHI).
The company’s shares are owned by legendary investor Warren Buffett, who sees strength in home building given the lack of existing home supply.
Aside from operating their in-house mortgage lender DHI Mortgage, they also run an affiliated title company and insurance agency.
This means home shoppers can use DHI Title for their title insurance needs and D.R. Horton Home Insurance Agency for their homeowners insurance, assuming it’s competitively priced.
The goal is to create a one-stop shopping experience for home buyers and streamline what is often a daunting process.
Last year, they funded about $20 billion in homes, with nearly 30% of overall volume coming their home state of Texas, per HMDA data.
They are also quite active in Florida, California, Arizona, Georgia, Nevada, and The Carolinas.
How to Apply with DHI Mortgage
While you can get pre-qualified for a mortgage online via the DHI Mortgage website, they say to get in touch with your mortgage loan originator to submit a full loan application.
It’s unclear if this means you can still apply electronically after speaking with a loan officer, or if you have to apply in-person.
They do have branch locations and sales offices at their home builder developments, which could facilitate this process.
Unfortunately, their website is a bit limited when it comes to information, so you’ll probably need to speak with a human before proceeding to an application.
Their online system, powered by fintech company Blend, does seem to allow for online refinance applications along with the pre-qualifications.
If you visit their website, it’s also possible to search for a local loan originator by state, branch, or by name.
They say they have digital options for buyers, but don’t make clear what those are. My assumption is they do offer some sort of online loan submission process.
And likely the ability to complete tasks electronically, whether it’s satisfying loan conditions or checking loan status.
However, I would like to see more information in this department.
Loan Programs Offered by DHI Mortgage
Home purchase loans
Refinance loans
Conventional loans including Fannie/Freddie 3% down
FHA loans
VA loans
USDA loans
Fixed-rate and adjustable-rate options
Temporary buydowns
Affordable housing loans
DHI Mortgage offers the most popular loan options out there, whether it’s 3% down conforming loan backed by Fannie Mae or Freddie Mac or an FHA loan.
You can get both a home purchase loan or a mortgage refinance, though I doubt many existing homeowners would use them for a refinance unless mortgage rates were ultra-competitive.
The full menu of government-backed mortgages is offered, including FHA loans, VA loans, and USDA loans.
And both fixed-rate and adjustable-rate options are available, including the 30-year fixed, 15-year fixed, 7/1 ARM, and 5/1 ARM.
They also appear to offer jumbo loans that exceed the conforming loan limit in pricier regions of the country.
However, they don’t appear to offer any second mortgages, such as HELOCs or home equity loans.
But temporary buydowns, such as 2-1 buydown, are offered, as well as other affordable housing loans if buying in specific locations or with low-to-moderate income.
DHI Mortgage Rates
Speaking of mortgage rates, DHI Mortgage doesn’t have a page on their website dedicated to rates or lender fees for that matter.
So you’ll be a little bit in the dark there. Be sure to ask your loan originator what fees they charge, such as loan origination fees, application fees, processing and underwriting, etc.
The good news is I did see special interest rate offers on the D.R. Horton website, which is typical of home builders.
They often offer special incentives to their home buyers who also use their affiliated lender.
In this case, I saw a 5.50% fixed rate FHA loan offer, which was also available on VA and USDA loans.
And a 5.75% fixed rate conventional loan offer that only required a five percent down payment.
So chances are they can offer some pretty competitive rates if you buy a D.R. Horton property and use DHI Mortgage.
DHI Mortgage Home Buyers Club
Those with imperfect credit can take advantage of the “DHI Mortgage Home Buyers Club.”
It pairs in-house credit consultants with prospective home buyers to prepare them for homeownership.
While it doesn’t guarantee loan approval or improved credit scores, they will work with you to boost your overall credit profile.
They’ll also ask you to complete a HUD-approved homebuyer education course while your credit consultant comes up with a credit profile improvement strategy.
This might entail removing inaccurate items on your credit report, paying down high balances, and getting current on any past due accounts.
The goal is to clean up your credit history and improve chances of mortgage approval, and potentially snag a lower mortgage rate depending on credit score improvement.
DHI Mortgage Reviews
As always, I try to track down customer reviews online to see what past customers think of the lender in question.
And they don’t appear to be great, based on what I could find. Their headquarters in Austin has a 2.6/5 rating from about 40 Google reviews.
Over at WalletHub, it’s a similar 2.6/5 rating from just over 30 reviews, with some customers citing poor communication and delays.
You can also find reviews for individual loan officers if you go on Zillow and search by name or location.
DHI Mortgage currently has a ‘B+’ rating with the Better Business Bureau (BBB), which isn’t fantastic and likely due to customer complaints.
They also have a 1.14/5 rating on the BBB website based on customer reviews.
To sum things up, their website could do with improving and their mixed reviews raise some questions about customer service.
On the bright side, they offer a good amount of loan programs and might have financing specials that beat out the competition.
Ultimately, it would probably come down to price if deciding between them and a different lender.
Though I assume most DHI Mortgage customers are also likely D.R. Horton home buyers, so there will likely be a big push to stay in-house.
Just be sure to speak with other mortgage companies, independent mortgage brokers, and so on to weigh your options.
Convenience is great, but not at the price of higher closing costs and/or interest rates. So definitely shop around.
Lastly, note that DHI Mortgage sells most of the loans it originates, meaning it’s likely your loan will be sold and transferred to a new loan servicer shortly after closing.
DHI Mortgage Pros and Cons
The Good
Special financing incentives to D.R. Horton home buyers
Might be a quicker/easier home buying process using affiliated companies
Branch locations allow borrowers to work with in-person if preferred
DHI Mortgage Home Buyers Club helps credit challenged buyers
Free mortgage calculator and homebuyer education resources online
Lots of loan programs to choose from including fixed-rate loans and ARMs
The Perhaps Not
Only licensed in 34 states
No mention of mortgage rates or lender fees online
Clunky website with limited information
Don’t seem to able to apply for a home loan electronically
Do not offer second mortgages or home equity products
Whether you’re selling your home to begin a new adventure or refinancing your existing home, getting an appraisal with the value you want is an important hurdle to clear. You may feel that the appraisal process is out of your control, but there are many easy and inexpensive ways to get both yourself and your home ready.
We put together a checklist of our top tips below. But first, let’s quickly cover the basics of home appraisals.
What Is a Home Appraisal and Why Is It Important?
A home appraisal is an unbiased report on the value of your home performed by a trained and state-licensed individual. Appraisals are an essential part of the home financing process, ensuring the homebuyer, seller and mortgage lender each have an impartial, consistent and accurate assessment of the value of the property under consideration.
The lender is responsible for ensuring that your home provides adequate collateral for the mortgage. For most loans, the lender obtains a signed and completed appraisal report that accurately reflects the market value, condition and marketability of the property.
It’s the appraiser’s job to provide a factual, unbiased and detailed description of the property and the neighborhood. They must take into account all factors that influence a home’s value when developing the market value opinion in the appraisal report.
Home Appraisal Cost
While home appraisal costs can vary by state and property size, the fee can range between $300 and $1,200. Most fall somewhere around $600-$1,000, with costs based primarily on the geographical area of the home.
How Long Does a Home Appraisal Take?
From start to finish, the home appraisal process usually takes approximately 7-10 days to complete.
The required in-person visit by a home appraiser can take over an hour, depending on the size of your home. However, several other steps are involved in making an unbiased and professional assessment of your home’s value. Your appraiser will research trends, local county records and recently closed comparable homes in your area, known in the industry as “comps.”
Once your appraiser compiles and analyzes all the information and data, they will present a final report of your home’s value.
What Do Home Appraisers Look For?
A home appraiser uses several sources of information to determine a property’s value. As part of the assessment, the appraiser will visit the property in person and review recently completed sales of comparable homes. Common factors examined during home appraisals include:
Property size. In real estate appraisals, size significantly affects the final number. In general, the higher the square footage of a home, the higher its value. An appraiser will also look at the kitchen, number of bedrooms, bathrooms and closets.
Exterior condition. When assigning a value to your property, the appraiser will consider not only the exterior appearance of your home but also its condition. They will check the following:
The condition of the roof, foundation, siding, gutters, chimney and walls, looking for signs of leaks, mold and other safety hazards
Lot size, including front and backyard square footage
Pool, outdoor kitchen, deck, porch and other amenities
Interior condition. Again, this refers not only to the appearance of the interior but also to the working condition of standard household assets such as:
Plumbing
Electrical and HVAC systems
Doors and windows
Light fixtures
Any kitchen appliances to be included in the sale
Attic, basement and foundation. A finished basement or attic may impact a home’s value, but these areas must meet specific requirements to be considered part of the Gross Living Area (GLA). An appraiser will also evaluate your home’s foundation and its condition.
Home improvements and renovations. Tell your appraiser about any work or upgrades you have done to spruce up your home. This can include anything from the central air system you installed 10 years ago to the kitchen flooring and countertops you just renovated (along with the new oven and fridge to match, of course).
What Hurts a Home Appraisal?
If an appraisal is in your future, it’s essential to understand the factors that could negatively impact it, such as the following:
Low-value comps and decreasing neighborhood property values
Poorly maintained interior or exterior
Age of the home
Location, such as a flood zone or busy road
Signs of mold, insect infestation, leaks or other safety concerns
Issues with the home’s systems, such as plumbing, electric or HVAC
Lack of parking
Hazardous construction materials like lead paint or asbestos tile
Outdated or faulty plumbing, electrical and heating systems
Some issues are in your control and some may not be. Whether you choose to address the correctable concerns or not, being aware of crucial appraisal criteria can help you avoid the potential unwelcome surprise of a lower-than-expected home value.
Top 7 Tips Home Appraisal Checklist
How does one best prepare for a home appraisal? We put together a checklist of common (and not-so-common) tips to help you get a high valuation from your appraiser.
1. Do Your Own Appraisal
Imagine that you are the appraiser. Walk around your home’s interior and exterior and really scrutinize it as if you were going to complete the appraisal report yourself. Take note of any obvious damage or deferred maintenance that needs your attention. Leaks, broken systems and damaged surfaces should all go on your list of things to repair.
Thoroughly inspect safety equipment like smoke alarms, carbon monoxide alarms and home security systems. Are they all functioning, or do parts or entire systems need to be replaced? Make a plan to repair these issues and clean up any cosmetic issues that may have occurred as a result.
2. Investigate Comps
Check out recent home sales in your neighborhood. What has the price range been for homes with features and updates similar to yours? The values of these comparable homes should be similar to what your home will appraise for. This information can help you know where to focus your time, efforts and funds.
If you know a neighbor (or real estate agent) who recently sold a home in your area, contact them to find out if there were any appraisal issues or insights that they can share.
If you’re working with a real estate agent, you can request that they collect some comps for you and your appraiser to review. Particularly if your home has unique or uncommon features, your agent may need to get creative while staying within the guidelines for selecting comps.
A quick way to get a rough idea of how much your home is worth is to use a home value estimator calculator. Add some basic information to gauge your home’s current value and view recent home sales in your area.
3. Get Superficial
Clean your house from top to bottom and remove extra clutter. Once you’ve scrubbed and straightened up everything possible, consider making some easy, low-cost cosmetic updates that can have a big impact, like the following:
Paint or touch up existing paint
Hang updated window treatments
Replace worn faucets, doorknobs and cabinet hardware
If you’ve been planning to update your decor after you move, consider bringing in a few of the newer pieces to make the old house look fresh and modern. Downsizing or packing for a long-distance move? Ask your real estate agent if they have staging furnishings you can borrow or recommendations for a service you can use.
4. Make Your Outdoor Areas Truly Great
Now that your home’s interior looks fantastic, it’s time to pay attention to the exterior. Make sure that your landscaping is looking its best by doing the following:
Mow your lawn, trim your trees and bushes
Remove weeds and dead vegetation
Add color with inexpensive, seasonal flowers in the spring, summer or fall, and ensure that snow removal is neat and tidy in the winter
You’ll also want to:
Remove outdoor clutter, like yard tools and stray toys, from everywhere on the property
Consider staging any outdoor living spaces with new furniture or accessories
Power wash your home’s exterior, as well as your driveway and any deck or patio surfaces
Ensure your pool is well-maintained and in safe operating condition
Most of this can be accomplished in a weekend, and the increased curb appeal will be worth it.
Check out expert tips for outdoor home renovations — you may find just the right improvement to increase your value!
5. Be Sure To Share Your Upgrades
Tell your home appraiser about the improvements you’ve made to your home. Inform them of upgrades like the following that will positively impact your appraisal value:
New features that you have added, like a security system
Updated HVAC units
Exterior improvements like siding, gutters or a new roof
High-value room remodels like kitchens and bathrooms
An easy way to make sure that your appraiser remembers all of these improvements is to create and share a short, one-page list detailing each. You should have this list ready in advance and include any applicable permit information.
6. Know Your Neighborhood
Make your appraiser aware of any recent improvements in your overall neighborhood. It’s worth mentioning things like:
New or highly rated schools
Parks
Transportation enhancements
Shopping
Other beneficial amenities
These kinds of changes can add significant value to your home, and if your appraiser is not a local resident, they may not be aware of them. Appraisers are often familiar with the general area, but you probably know your specific neighborhood better than they do.
7. Stay Focused
While you are working your way through the tasks and updates listed above, it’s important to remember not to go overboard and take on too many projects. Invest your time, money and effort only on issues that clearly need attention. If you’re getting an appraisal for a home you’re selling, you most likely already have a buyer who liked your home enough in its current state to make an offer on it. Making unnecessary major changes could end up being a waste of your time and resources.
Your home’s selling price is affected by much more than just the appraisal! Find out how the time of year can increase your sale price.
Although it’s not possible to change your bungalow into a country estate overnight, taking the time to tackle a few strategic projects before your appraisal can help put you in a better position to get the outcome you want. If you’re ready to move or refinance the home you love living in, get a custom mortgage rate quote from Pennymac today. Our Loan Experts can answer your questions and help guide you through the mortgage loan process.
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Investing in the stock market has never been more accessible than it is today. Thanks to a wide array of online brokers, you can now trade stocks, ETFs, and other securities right from the comfort of your own home or even on the go. But with so many options available, how do you choose the right one?
We’ve broken down the top online brokers for stock trading, considering factors such as cost, user interface, customer service, and the range of available investments.
Whether you’re a seasoned investor or a beginner just looking to dip your toes into the financial markets, our guide will help you navigate this essential decision. Let’s get started!
7 Best Online Brokers
Check out our list of 2023‘s best stock trading platforms. You’ll find all the details you need in this accessible guide so you can get right to the good part: starting your trades.
Robinhood
Robinhood is a trading app that provides commission-free options, ETF, and cryptocurrency trades. For a long time, the company stood out as one of the few online stockbrokers offering commission-free trades, but it has become more common in the past year.
Robinhood is still one of the best online brokers for anyone looking to get started with investing. And it’s still one of the few apps that allows you to trade cryptocurrency.
Many people like Robinhood for its simplicity. There is no account minimum to get started and no annual fees. In addition, the company offers a web-based and mobile app and customer support options.
However, a common complaint about Robinhood is that the company’s offerings are very light on the research. And while the app is easy to use, there is very little offered in customizations.
Learn more by reading our full Robinhood review.
Charles Schwab
Charles Schwab requires you to start with a bit of skin in the game, with a minimum opening deposit of $1,000.
You can, however, check for promotions that often allow you to waive the minimum if you sign up for monthly $100 deposits. It’s an easy entry point for beginning trade enthusiasts.
When you’re ready to start trading with Charles Schwab, you can enjoy lower costs of just $4.95 per trade and $4.95 plus $0.65 per contract for options trading.
ETF lovers will appreciate the 200+ commission-free funds in addition to 3,000+ mutual funds with no transaction fees. In addition, you get to skip any kind of annual or inactivity fee on your account, but it’s $50 if you ever decide to close your account.
While you can choose from two different trading platforms, StreetSmart Edge is the more sophisticated version for frequent stock traders.
Don’t let the easy customization fool you. You can perform in-depth research and monitor your stocks with features like streaming market data and your account buying power.
Additionally, they provide countless reports, from its own equity ratings to third-party data from industry stalwarts like Morningstar, Market Edge, Capital IQ, and more.
For access to all of this at your fingertips anytime, anywhere, the mobile app carries just about all the same features as the web version.
Data-centric traders could definitely gain many insights by choosing Schwab for their online stock trading.
Fidelity
Fidelity may require a rather hefty minimum deposit of $2,500 but makes up for it with its attractive commissions.
It’s just $4.95 for each trade and the same amount for options, plus $0.65 per contract. This is a recent drop, so if you previously discounted Fidelity, it’s time to take a second look.
Do you want extensive NTF mutual funds? You’ll find about 3,600 with Fidelity. There are also about 91 commission-free ETFs, which is certainly encouraging but not the most we’ve seen.
One interesting feature with Fidelity is that you can do forex trading along with more standard securities. Like many of the brokerages we’ve reviewed, there are no account fees or inactivity fees.
Looking for a robust trading platform?
Check out Fidelity’s Active Trader Pro. To get access, you will need to make at least 36 trades in a 12-month period. If you fit the bill, you’ll get a fully customizable account with real-time streaming and market updates.
You can also look at historical trends and use the Strategy Ideas tool. It can even help you craft an exit strategy when the time comes.
In terms of additional research, Fidelity actually gets its research from over 20 firms, such as Recognia, McLean Capital Management, and Ned Davis. You can even get an aggregate picture from all the data available through Fidelity’s Equity Summary Score on each stock quote page.
Merrill Edge
Owned by parent company Bank of America, you can actually access all of your accounts from the same login if you’re a B of A customer.
This can be a huge draw for some, but Merrill Edge comes with both pros and cons, just like any other trading platform.
Let’s take a look.
First, Merrill Edge has excellent customer service and powerful research and trading tools.
Commissions are somewhat high, coming in at $6.95 for stock trades plus an extra $0.75 per contract for options. They offer 2,000+ NTF mutual funds, but unfortunately, don’t have any commission-free ETFs. This may be a deal-breaker for some traders.
You can, however, qualify for 30 commission-free trades on individual stocks or ETFs each month by meeting a balance minimum.
You can qualify if you have at least $25,000 in either a Merrill Edge self-directed account or a Bank of America cash deposit account.
E-Trade
You will need at least $500 to open up an E-Trade account, but many traders agree that the volume discounts and easy-to-use platforms are well worth it.
In fact, each platform appeals to two types of investors: beginners and more seasoned pros. So, it’s a great place to start with a bit of cash, which also allows you to take advantage of more sophisticated tools as needed.
But, there is a catch.
To upgrade from the basic E-Trade Web platform to the E-Trade Pro platform, you’ll need either a large account or an active trade history.
So, you’ll either need a minimum of $250,000 in your account or make 30 or more trades per quarter. If you do make that amount of quarterly trades, you can still qualify for some other benefits as well — including discounted commissions.
Just how much?
For stock trades, your commission per trade will drop from $6.95 to $4.95. For options trading, it’s typically $6.95 plus $0.75 per contract, but for active traders, your fee drops to $0.50.
And while you’ll enjoy 100+ commission-free ETFs and 2,500 no-transaction-fee mutual funds, any others cost $19.99.
Ally Invest
Known for their great customer service that’s available 24/7, Ally Invest is one of the best online brokers providing low barriers to entry in the trading game.
There are no account minimums and low commission fees. Not only are stock and ETF trades just $4.95 each, but you can also receive a discount when trading in volume.
The bottom line for getting cheaper trades?
Make either 30+ trades per quarter or keep a minimum of $100,000 in your brokerage account. That drops the commission fee to just $3.95 per equity trade. The standard options trade of $4.95 plus $0.65 per contract drops to $3.95 plus $0.50 per contract for active traders.
In addition to the traditional securities found at most online brokers, Ally Invest also offers forex and futures trading.
You can take advantage of free data if you make at least one forex trade within a 90-day period. Instead of paying a trade commission, you’ll instead be charged on your forex trades based on the spread markup.
What kind of platform can you expect from Ally?
There’s just one web-based trading platform, so you can log in from any device. Like most other online trading platforms, Ally’s gives you live-streaming of quotes and data plus a dashboard you can completely customize.
You can also access your brokerage account through their iPhone or Android mobile app.
Ally also shines when it comes to investing tools. Options traders, for example, can utilize the pricing calculator to compare current prices to forecasts.
You can also pick your own criteria within the strategy scanner to help identify various options strategies.
Interactive Brokers
Beginners beware: Interactive Brokers is an advanced online broker with a high account minimum to the tune of $10,000, so don’t jump into this one until you’re ready.
But if you’re 25 or younger, you can open an account with just $3,000. Still, you need to know what you’re doing because Interactive Brokers doesn’t house a huge resource pool for beginners.
Unlike most other online stock brokers on this list, Interactive Brokers charges commissions per share rather than per trade. So while you can get a volume discount, the standard stock trade costs are $0.005 per share.
There’s a minimum charge of $1 and a maximum of 0.5% of your trade value. Options trades also carry a $1 minimum and charge $0.70 per contract.
You may also be charged fees for certain situations. For example, if you have an IRA, you’ll be charged a quarterly fee of $7.50. If you’re inactive in your account, you may be charged a fee between $3 and $20.
Interactive Brokers has about 30 ETFs to choose from that you won’t pay commissions on. There are, however, almost 3,000 NTF mutual funds available for trading. They also offer forex trading, but you’ll need at least $10 million in assets to access this feature.
Best Online Stock Trading Platforms FAQ
How much do online brokerage firms charge?
For active traders who want to minimize costs, an online stockbroker can save you a lot compared to a traditional brokerage. When you go with a full-service brokerage, you’re usually charged a percentage of the trade amount. With a discount brokerage account, you pay a low commission on every trade.
But with an online brokerage account, you typically get charged a flat fee for each trade, which can save you a lot over the long run. Depending on the type of transaction, you can expect to pay anywhere between $5 and $20 per trade.
What is the best stockbroker for beginners?
Most beginner traders incur losses because of several factors, including choosing an unsuitable online broker. Consequently, it is advisable to start with a platform designed to make trading easier. Some factors to consider when choosing an ideal platform for beginners may include:
Dedicated advisers to help you make better decisions through comprehensive analysis and one-on-one guidance.
A demo account with which you can practice as you learn and prepare for real-life trading.
A dedicated customer support desk to help you overcome complications with the platform or the markets.
Learning materials to familiarize you with the platform and the markets (fortunately, most offer updated learning materials).
A diverse range of trading options.
An easy-to-use trading interface.
Affordable fees and account minimums.
This guide includes excellent online brokers for beginners, such as Robinhood and Charles Schwab. However, don’t be afraid to cast your net further as you look for the ideal platform for your needs.
Which online trading platform is best?
All online trading platforms advertise themselves as the best. However, some offer better trading options and overall superior quality of services than others. Additionally, you will find that some platforms suit your investment needs and preferences better than others.
Consequently, it is advisable to consider what each platform offers based on your needs. Some questions to ponder when choosing an ideal online brokerage platform may include:
What do I know about online trading?
Will I need someone to guide me through some (or all) of my trades?
How much money do I need to invest?
Can I trust the platform with my money?
For example, you will need a beginner-friendly online broker if you are new to trading. Additionally, a platform that requires a high account minimum may not be right for you if you don’t have a lot of money to start with. You will also benefit from our guide on choosing a suitable online broker as you continue reading.
What is the most profitable trading platform?
It is true that some trading platforms offer better investment options and terms than others. However, it is a common misconception that some platforms can make you more money than others. While some platforms can save you money, but they will not automatically make you more money.
How much money you make on any trading platform depends on your overall trading strategy and accuracy. Online brokers don’t influence market directions—the markets do!
Here are some tips on how to develop a winning and profitable trading strategy:
Take classes about stock trading (and investment in general) before diving in with the sharks. You want to continue to learn throughout your trading career.
Always have a trading plan, including comprehensive money management criteria for every trade. It is also a general rule of thumb never to trade more than you can afford to lose.
Leave emotions out of trading and treat it like a business (one that can change your life if managed well).
Take advantage of trading tools and other technologies to improve your accuracy and timing.
Know when to stop trading and always use a stop loss.
This FAQ includes a comprehensive guide on choosing an ideal online trading platform. Fortunately, there are hundreds of high-quality online brokerage platforms.
Which online broker has the lowest fees?
Some online brokers charge exorbitant fees, while others charge pennies. To this end, you can save thousands of dollars per year by choosing an online broker that offers affordable fees.
With such variation, it is critical to identify your broker’s fees for different services and do the math. Most people focus on commissions. However, it’s also important to consider charges such as margin rates, finance rates, spreads, and conversion fees.
Traders looking to work with online brokers charging minimum fees may be interested in discount brokers. This is because a discount broker executes orders at a fraction of what other stockbrokers charge. As a result, discount brokers are wildly popular and constitute a considerable portion of the fintech industry.
However, it is worth noting that discount brokers don’t offer a full range of services. Most notably, they don’t provide investment advice, unlike full-service brokers. Consequently, the cost savings may not be worth it unless you are an excellent trader with a winning strategy.
What does a stockbroker do?
A stockbroker executes orders in the stock market on behalf of clients like yourself. Stockbrokers also offer their clients sound financial advice, but they are obligated to follow their clients’ directions. They are also commonly called investment advisors or registered representatives.
You must be fully qualified and licensed to work as a stockbroker. Additionally, you must be a member of a stock exchange (such as the New York Stock Exchange) to buy or sell on their platforms. Consequently, not everyone can buy or sell directly from the platform. Stockbrokers function as the go-between as their license automatically qualifies them as members.
Interestingly, many stockbrokers today mainly specialize in financial advisory and planning, thanks mostly to the rise of online stockbrokerage platforms. These platforms have eased access to the stock markets. Essentially, anyone with access to the internet and genuine interest in the markets (and some capital) can start trading in minutes.
Should I hire a stockbroker?
Trading stocks and other securities has never been easier, thanks mainly to the rise of online brokerage platforms. To this end, it is common for many people to view stockbrokers as redundant. However, they are not. Even experienced traders ensure that they always have a stockbroker on speed dial.
So, why should you hire a stockbroker? Here is an overview of three irrefutable reasons why a stockbroker could be invaluable:
First, stockbrokers can read the markets with accuracy. They can also give you tips on profitable trades before the rest of the market can dilute the trend.
Second, stockbrokers can manage all of your investments if you don’t have the time to do it yourself. This allows you to facilitate a passive investing strategy and potentially lucrative passive income.
Finally, stockbrokers can give you deep financial advice that extends beyond investing. This can help you better manage your personal and business finances.
Ultimately, a stockbroker’s services pay their fees several times over if you put their advice to good use. However, it is prudent to pick a competent and intelligent stockbroker to ensure that you get sound investment and financial advice.
How do I choose an online brokerage?
Online brokerage platforms make it easy and affordable for anyone to trade stocks and other securities. There are hundreds of online brokers, and some offer better terms and services than others. Hence, it is advisable to choose your online brokerage platform wisely. Here is an overview of three factors to consider when choosing one:
Account Fees & Minimums
All online brokers charge fees to use their platforms, just like you would pay a stockbroker. Additionally, many online brokerage firms require their clients to maintain a minimum amount of money in their accounts. Therefore, it is advisable to ensure that the amounts in both cases are low and affordable.
Investment Options
It is always advisable to diversify your investments across multiple securities and other investment options to spread (and minimize) risks. Consequently, it is vital to ensure that your chosen online broker provides access to as many securities as you need. Some of the main investment options include stocks, mutual funds, ETFs, bonds, and cryptocurrencies.
Support
Trading stocks can prove complicated, and most people find themselves wishing that they had a professional to guide them. Fortunately, many online stockbrokers offer access to individual stockbrokers for one-on-one investment and financial advice.
Stock Trading Fees Explained
You have to pay to play in the stock market, metaphorically speaking. You pay for the services provided by online brokers or brokerage platforms when you trade stocks. Stock trading fees come in varying types, and some of the most notable ones include:
Commission
Most brokerage platforms charge a commission for every trade, which is usually a dismal fraction of the trade’s cost. The commission can be charged as a flat fee or based on the volume of your trades. However, it is worth noting that more and more online brokers are eliminating commissions.
Spread
The spread is the difference between the bid and ask prices. Ideally, you would incur a loss if you bought and sold a trade simultaneously. This loss depends on the difference between the sell and buy prices.
Finance Rate
A finance rate refers to the cost incurred when you hold a leveraged position for longer than 24 hours. A leveraged position essentially is borrowed money, and your broker will charge you interest for this loan in the form of a finance rate.
Margin Rate
Trading on margin entails trading using money borrowed from the broker. The broker will also charge interest on this money in the form of a margin rate.
Conversion Fee
Do you need to convert your money to another currency to start trading? The broker will charge you a small conversion fee every time you convert currency for deposits or withdrawals.
How much money do you need to start investing?
It is easier than ever for folks to start investing, and often you can start with as little as $500. Some online stock brokers don’t require any account minimums at all. Where they do, the minimum investment amount will depend on your broker and the type of investment.
For example, most mutual funds have minimum investments of around $1,000, so if mutual fund trades are a priority for you, keep that in mind.
Is Stock Trading Safe?
While it is generally safe to trade stocks, that doesn’t mean there aren’t risks involved. The best trading platforms will work hard to keep you informed and minimize those risks.
As an online trader, it is also your responsibility to practice good security habits. Use the same security steps with a brokerage account that you would with your bank account. Additionally, always use common sense when trading.
What Are the Risks of Online Trading Platforms?
By virtue of being an online activity, there are several risks involved when you trade with online stock brokers. Let’s take a look at the most common risks:
Identity theft: As is the case for any online account you use, it is possible for your brokerage account to be hacked by scammers who obtain your personal identifying information. This is why it’s always vital to keep your passwords secure. You should also use two-factor authentication wherever possible to protect your accounts.
Computer viruses and malware: It’s important to ensure that the computer you use to access your brokerage account is always clean, secure, and free of malware. Hackers can use spyware to gain access to your passwords and personal information. So, protecting yourself means using a quality anti-virus program and performing routine checks.
Data breaches: Data breaches are a major risk for companies and customers alike, and unfortunately, they seem to be on the increase. As a customer, the most critical step you can take to protect yourself here is to only do business with reputable companies. Ideally, you want to choose one that has never had a previous data leak.
Phishing schemes: This often comes in the form of an email or text message which claims to be from your brokerage firm, but is actually an elaborate scam. Always pay close attention to the details in any communication you receive from your online stock broker. Never click on any links until you are certain the sender is legitimate.
Bottom Line
Your online stock broker is your gateway to investing, so it’s not a decision to take lightly. When searching for an online stock broker, it’s important to consider your unique investment needs.
You’ll need to compare costs, available investment options, account types, and how well the stock broker works for your investment style. Any of the online stock brokers above could be a great fit for your investing and trading goals.
In your search for online brokers for stock trading, make sure you take the time to figure out your priorities. Then, you can find a brokerage account that truly serves you. There are a lot of great online stock brokers out there, but being clear about your goals will make it easier to choose.
When you purchased your first home, it likely checked off all the boxes. But over time, perhaps your lifestyle has changed and your family has grown, and now you’ve started asking yourself, “Should I buy a bigger house?” Whether you’re looking for larger bedrooms, expanded family space or more storage solutions, buying a bigger home — or even just moving to a different layout or location — might be a change you’re ready to make.
Scott Bridges, Senior Managing Director of Consumer Direct Lending at Pennymac, says that upsizing happens frequently. He explains that a “healthy percentage of buyers are looking to buy up for space, neighborhood, school district and work proximity reasons. It’s a great pursuit and one of the more exciting chapters in one’s homeownership journey.”
Here’s how to figure out if you’ve outgrown your current home and how to determine how big a house you actually need.
The Signs You’ve Outgrown Your Home
While starting a new chapter in a bigger home may sound appealing, moving is a big decision that can come with a hefty price tag. How do you know if you’ve really outgrown your house? Bridges says the following are some of the most important items to consider.
Physical Aspects
One of the first things you’ll want to assess is the number of bedrooms and bathrooms you have versus the number you need. Bridges notes, “If your family is growing, if you have kids or parents moving in, you will need additional space for the new members of the household.”
Evolving household dynamics can also change your idea of an optimal home layout. If you currently have a one-story home, do you want to move to a two-story residence or vice versa? Do you want your children’s bedrooms on the same floor as yours? Do you need a separate entrance and living area for mom and dad or grandma and grandpa?
You’ll also want to think about your outdoor space. Bridges recommends asking yourself how much space you’ll need. For example, will you want to entertain, maybe have a pool, how much yard would you like to manage? All things to consider when looking to buy a bigger house.
Future Plans
Even if you’re comfortable in your home right now, do you foresee life events on the horizon that may lead to things getting cramped? Think carefully about your future plans and determine if they align with your current living environment. Consider the following:
Will you be having more children or expanding your family?
How long will your kids be living in the house before they leave for college or work?
Will you need a larger garage or driveway as your children get their driver’s licenses?
Do you envision an elderly parent moving in with you at some point?
Your answers to these questions will help you decide if moving to a bigger home is right for you.
Daily Life
Your home’s physical size may be the primary factor when deciding if you’ve outgrown it, but there are other lifestyle factors to consider as well. For example, do you have a short or a long commute from your current home? Bridges points out, “Most people don’t want to add significant time to their commute, even if it is for a larger home.” Others, however, may feel a longer commute is an adequate trade-off for increased space.
Or maybe you aren’t commuting as much because you work or attend school from home. Could a dedicated work area in a larger home reduce distractions?
Consider, too, the benefits and drawbacks of your present location. Even if you love your neighborhood, perhaps you want to move to a quiet, traffic-minimal cul-de-sac. Or maybe you’d like to be within walking distance of stores, restaurants or public transportation.
Quality of life is key. If your current home is causing you stress and not providing you the comfort you need, it may be time to upsize. Bridges urges, “Carefully think about how much better your day could potentially be with more space, a bigger kitchen, larger yard and more rooms.”
Considerations for Staying Put
There are many reasons why you may want or need to move to a bigger house. But that increase in square footage will likely increase your expenses and responsibilities. Here are a few reasons why staying put may be a better option for some homeowners.
Difficulty Finding a Home in Your Ideal Location
Depending on your desired location, a larger home in your price range may be difficult to find. If you want to remain in the same neighborhood or school district, you’ll have to decide whether moving away from your preferred area for a bigger space is worth the sacrifice.
Higher Costs Beyond the Mortgage
Even if you can comfortably afford your down payment and monthly mortgage payment, there are other expenses you’ll need to consider when moving to a bigger house. “If you live in an area with colder winters, understand your heating costs will go up,” Bridges says. “In a warmer climate, think Arizona and Texas in the summer, AC costs can run very high electric bills in bigger homes.”
Increased Responsibilities
A larger home requires more interior and exterior upkeep. There’s more to clean, furnish, repair, landscape and maintain, which takes time, money and energy.
Not a Guaranteed Investment
If you’re purchasing a home based on an anticipated greater return on investment, keep in mind that real estate values can be unpredictable. There’s no guarantee that your larger home will increase in value when you’re ready to sell.
Commute
Housing costs are often less the further you move away from city centers, giving you more bang for your real estate buck. But if it takes you longer to get to your job, the added time, hassles and transportation expenses may not be worth it. Bridges notes, “If you’re extending your commute to live in a bigger house in the suburbs, the drive may be just too hard.”
Financial Tips for Buying a Larger Home on a Budget
Moving involves a considerable amount of expense, stress and time. Many people try to avoid it by buying a home that will meet their needs for many years to come. However, it’s also important not to buy a house bigger than what you really need. Maintenance requirements, increased utility bills and expensive mortgage payments can be significant burdens. When purchasing a home, how can you be prepared for a growing family without overstretching your budget? Here are a few tips.
Anticipate Costs
Try your best to forecast the additional costs of a bigger home. “When you buy a larger home, you can easily anticipate your mortgage, taxes and insurance costs increasing, but many people don’t anticipate the additional costs of a larger home,” Bridges explains. “Your utilities will be more expensive, lawn and landscaping and amenities like pools will increase your monthly expenses as well. Lastly, repair costs can be much more expensive on bigger homes. Think of a roof replacement on a 2,000 square foot house versus a 4,000 square foot house.”
Consider Your Income and Employment Stability
While more space may support your plans, Bridges stresses that stability of income and employment must be part of the discussion when considering moving to a larger home. Your household income will need to cover the higher costs of owning a bigger house — now and in the days ahead.
Rent Out Your Original House for Income
It may make sense to sell your current home and use the proceeds for the down payment. But if you don’t have to do that, consider keeping it as a rental. Some homeowners move to a bigger home while renting out their old home, creating what can be a lucrative income stream in the future. Bridges advises, “Depending on how much you owe on your house, sometimes it makes sense to keep the original house and rent it out, as it can represent a good income source in the long run. Over time, real estate tends to appreciate and rents tend to rise, so holding the property as a rental can add to your overall wealth as the years go by.”
What to Look Out for When You’re Ready to Buy a Bigger House
Moving to a larger home is a significant change and takes careful thought. If you’re ready to upsize, think about how your prospective new home could adapt as your needs evolve. Bridges says that during the buying stage, homeowners with growing families often look for the following:
Bedrooms on the same floor
A bigger kitchen, a nursery or a media room
Backyard space for kids and pets
A better school district, which generally speaking, impacts home value stability
Want to start your new home search now? See how much your current home is worth, and then go beyond home affordability calculators to determine how much house you can actually afford.
Are You Ready to Move to a Larger Home?
So, should you move to a bigger home? “Every buyer has to make their own decision, as their circumstances vary,” Bridges says. Moving may be challenging, and selling is a process, but he adds, “At the end of the day, buying a bigger home might be one of the more memorable and enjoyable things you can do in your life, so don’t wait too long, if you can!”
Choosing a home that is the right size for your life today and tomorrow involves balancing both your family needs and your budget. If you’re ready to take the next step toward a larger home and are looking for expert guidance in the mortgage loan process, get a custom instant rate quote from Pennymac today.
Inside: Looking for a job that pays at least $25 per hour? This list has the best jobs that fit that description. Each job offers unique benefits and opportunities, so take a look and see if any of them match your interests and skills.
Making $25 an hour is not a pipe dream; it’s a viable reality for thousands of people worldwide.
Earning such an income not only instills a sense of financial well-being but also provides a robust platform to plan for the future.
Today, we dive into elucidating the different opportunities potential jobs offer, aligning your skills and experience with an hourly rate that feels just right for your wallet.
Hence, securing such a job is not a function of luck but more a strategic alignment of skills, passion, and industry demands. But if you’re not entirely sure about where to begin or how to hone your skills for these high-paying jobs, don’t worry.
Imagine earning smooth entry-level jobs 25 an hour, all from the comfort of your workspace. Sounds enticing, right?
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.
Best Jobs That Pay $25 an Hour
This section will highlight various professions across distinct fields that provide such a desirable pay rate.
Looking for jobs that pay $25 per hour? We’ve got you covered.
Whether you’re transitioning careers or just starting, this list could help you discover a role that fits your skills and experience.
1. Paralegal
A paralegal role is an excellent job choice due to the vast knowledge gained in the field of law and legal procedures.
Being a paralegal involves a variety of interesting tasks, such as helping lawyers prepare for hearings, trials, and corporate meetings.
This position is not solely monetarily advantageous, it also presents opportunities for growth and professional development in the legal sector.
Earning Potential: It offers rewarding prospects with an average pay of $25 per hour, with the potential to earn up to $40 an hour depending on experience and expertise.
2. Landscaper
Why toil in a stuffy office when the great outdoors can be your workspace? Relish the satisfaction of planting, pruning, and mowing yourself into a healthier, happier lifestyle.
Ideal for nature enthusiasts and people persons out there, landscaping combines green-thumbed work with personnel management. A knack for the outdoors and previous work experience will be your stepping stones, while a certificate in grounds maintenance can make your application stand out.
Start by volunteering in your local community gardens or offering your services to neighbors. Through this, not only will your skills blossom, but your resume will flourish, too.
Earning Potential: You can expand your lucrative landscaping journey by owning your own company and training others to be laborers.
3. Truck Driver
Why is it a top-tier job, you ask? Consider this: truck drivers are the beating heart of global commerce, pivotal figures in ensuring warehouses stay stocked and goods reach their desired destinations. Plus, you’re free of the traditional office environment.
This job is perfect for those who prefer to work alone as well as those who prefer delivery routes that often stretch into the night.
You must be over the age of 21 years old and able to pass a CDL exam. Many truck drivers to a training course to get a jumpstart in the industry.
Earning Potential: Many truck drivers start their own company and will employ a couple of rigs to make passive income.
4. Social Media Marketing
Do you have a knack for creating engaging captions or a Sherlockian eye for data? Then Social Media Marketing could be your calling.
This position, hot in demand and rewarding, calls for creativity and analytical prowess.
Why is it a top job? Well, it’s not for the adrenaline rush of its fast pace. It’s the fact that you get to put your tech-savviness to great use. Social media marketers nurture and grow brands through smart strategies and engaging content.
Earning Potential: Many people start working for someone else as a Social Media Coordinator and then go on to open up their own business.
5. Event Planners
As an event planner, you are the unseen forces behind flawless galas, memorable weddings, and standout corporate functions. If you thrive on creativity, organization, and people skills, you will ensure that each event is meticulously executed.
This role allows you to blend creativity with pragmatic decision-making: from the captivating process of selecting venues, and coordinating with caterers
It’s a dream job for you if you love putting smiles on people’s faces and making their day unforgettable.
Earning Potential: An enticing reason is its attractive pay rate: on average, $24-28 per hour, peaking up to $40, with the potential of a quick pay raise. Plus those lucrative tips!
6. Mechanical Technician
If you’re seeking a rewarding, high-paying role that gets you hands-on with varied machinery, then a Mechanical Technician career.
This role is particularly apt for those with a fascination for machinery and a problem-solving mindset. To climb the ladder to success, one needs to keenly understand how to operate and maintain industrial machines, prevent damage, and optimize performance.
So gear up to diagnose, adjust, repair, and don’t forget – your hands, mind, and machines are a team.
Earning Potential: With an average pay of $26 per hour, you can start repairing machines and set up your own company.
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7. Maintenance Technician
This job is best suited for those who enjoy diagnosing technical puzzles and are adept at hands-on solutions.
By developing a strong mechanical aptitude, attention to detail, and top-notch problem-solving skills. Remember, your primary duty is ensuring machinery and equipment operate smoothly – the backbone of any industry.
Start by checking out some free online webinars or training programs related to industrial maintenance.
This is a low-stress job that pays well without a degree.
Earning Potential: As an entry-level worker, you can start by having a vocational certification or general education diploma (GED).
8. HVAC Technician
This role is perfect for those who love hands-on work and can’t get enough of problem-solving – who wouldn’t enjoy the thrill of being an office’s last defense against an impending heatwave?
The key to thriving in this breezy career path is training – dive into an HVAC training program at a vocational school or consider an associate degree in RACH (refrigeration, air conditioning, and heating).
Earning Potential: Being an HVAC technician pays around $25.75 an hour, which will keep your bank balance healthily ‘ventilated’. By having experience, your hourly wage can increase more.
9. IT Support Specialist
If terms like configuring, maintaining, and troubleshooting tech equipment are your weekend chat topics, you’re the perfect match for this.
Thanks to Google’s free certification program, you can start this job by having online training in your spare time.
Start your journey by heading over to Google’s free IT certification program today. Master the IT realm, earn well, and enjoy your work- the trifecta is right there!
Earning Potential: An IT Support Specialist has an average above $25 an hour wage and could rise to $51 an hour for having experience.
10. Day Trader
By poised as a top job due to its flexibility and potential for high earnings, day trading allows you to take full control of your income by making well-informed decisions about the financial market.
It’s perfect for those with an acute mind for numbers, an unflappable nerve, and those who enjoy working from the comfort of their study.
All it takes to get started is some knowledge about the stock market – something you can easily acquire by attending a free webinar or training, which is accessible online!
Of course, remember the golden rule – never invest money you can’t bear to lose. Now, conquer the finance world, one trade at a time!
Earning Potential: By having the eagerness to be a learner and acquire more knowledge about this job, you can earn way higher than you thought. But, there will always be a risk when trading stocks.
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11. Bartender
This job is perfect for friendly individuals! As you’re the life of the party.
Your life will be as vibrant as a well-mixed cocktail—chock-full of lively conversations and new friendships.
Bartending has a steep learning curve, but the payoff is big as it is a job that pays weekly and even daily. Know your spirits, perfect your pour, and master the mix—each skill is a toast to your increasing bank balance.
So, roll up your sleeves, flash that charismatic smile, and prepare to shake things up in the bustling world of bartending.
Earning Potential: With an entry-level job—at a local pub or a fine dining restaurant, you’ll get paid handsomely, at least $25 an hour.
12. Mechanic
The job is a perfect blend for those with a knack for solving complex issues and have the stamina to be on their feet for prolonged periods.
If you’re not averse to the roar of engines and the smell of oil, you might be the grease monkey we’re looking for.
This job is perfect for dipping your toes in oily water. So, go ahead, rev up your career with a mechanic job!
Earning Potential: Personally, my independent auto mechanic makes way more than $25 an hour, but he has years of expertise and opened his own shop.
13. Transcription
Transcription suits anyone craving flexibility or looking to dip their toes into fields like legal, medical, and entertainment.
To shine, you’ll need to master speed, accuracy, and the art of capturing every ‘um’ and ‘ah.’ Noise-canceling headphones and a quiet workspace are your best friends.
Kickstart your move to transcription with free training like a mini-course to see if you like it. Gain insights into making money and build your portfolio.
This high-demand job needs skills you convert audio into text.
Earning Potential: By working remotely as a transcription, you can earn an impressive $25 an hour or more.
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14. Accountant
Start your second act as an accountant today. The balance sheets await your expertise.
By aiding your clients in reviewing their financial information, preparing tax and finance documents, and updating their changes in tax laws or governmental regulations. Certified Public Accountants (CPAs) can earn exceptionally well.
The longer you’re in the industry, the more you can be able to demand potential compensation for your service. Just by conducting audits, successful financial and bookkeeping strategies. CPAs perform a pivotal role that justifies their earnings.
Earning Potential: Right now, there is a severe shortage of accountants graduating from college. So, your earning potential will substantially increase with each year of experience, and possibly earn up to $50 an hour.
15. Proofreader
Proofreader is an ideal job for detail-oriented individuals with a passion for perfect punctuation, splendid spelling, and grandiose grammar.
Did you get a degree in English or similar? Perfect! But remember, while it helps, it isn’t a must-have.
It’s an excellent stepping stone for a stay-at-home parent or anyone seeking to make some extra cash it is one of the best jobs for moms. So hop on the proofreading wagon and ride your way to a more profitable future!
Earning Potential: Just by sitting and reading on your couch, you can now hop on and start earning $25 an hour depending on experience.
16. Recreational Therapist
Bring great immense job satisfaction by improving the lives of those grappling with illness and disability.
To get started, all you need is a bachelor’s degree in recreational therapy and then obtain a Certified Therapeutic Recreation Specialist credential.
So, why wait to become an everyday hero with a salary that smiles back at your bank account?
Earning Potential: You can earn more than $25 an hour by being a Certified Therapeutic Recreational Therapist.
17. Dental Assistant
Do you have strong communication skills, and the ability to partake in a hands-on career?
Just sterilizing equipment or lending a diligent hand during treatments will be part of your daily grind. Ensure every instrument screams ‘clean’ before the dentist reaches for it.
To become a dental assistant, you typically need to earn a certification or diploma through a dental assisting program, which often takes about a year to complete.
On-the-job training may also be required, during which you’d learn about dental procedures, patient care, and office duties under the supervision of a dentist.
You may have found the tooth fairy’s best job yet! Dive in!
Earning Potential: With a wage average of $19 an hour and earning up to $25 just being a Dentist Assistant.
18. Certified Nursing Assistant
Have a career dream to dive into the healthcare industry? Familiarize yourself with basic health practices, hygiene, and safety procedures.
Start your journey as a Certified Nursing Assistant by attending to patients, assisting nurses, and providing emotional support to everyone. You will have to start a training program, but thankfully there are many to choose from.
Earning Potential: This career pays more than $25 an hour and might increase through experience and skills.
19. Housecleaners
According to Zippia, 48.9% of the housecleaner’s qualification is to have a high school diploma, but experience could help. You must have a strong understanding of cleaning procedures and practices.
Also, you can consider taking a course to learn about safety guidelines and recommendations.
Other important attributes include attention to detail, physical stamina, and excellent time management skills.
Earning Potential: Whether you’re a single mom or a high school graduate, you can potentially earn up to $25 an hour.
20. Nanny
Fascinated by child psychology or studying pedagogy? Or just love kids? Then, this job is tailored for you; it offers both consistent income and practical field experience.
Getting started can seem daunting, but it doesn’t have to be. Step into the kiddie world, it might just be the best move you make. Where you are not required to pass any school diploma.
You can find plenty of nanny gigs on Sittercity.
Earning Potential: If being a nanny is just a child game then I want in and earn up to an incredible $1000 to $1100 a week.
21. Delivery Drivers
Welcome to the job of a delivery driver, a blend of independence and earning potential on wheels. When you are good at your job, you don’t have customers wondering how late does Amazon deliver.
This career is a perfect fit for introverts who prefer their own company, the job offers flexibility with the ability to set your hours.
But, keep in mind that larger roles, such as FedEx, may require truck driving experience, the ability to lift heavy boxes, and the completion of a few additional checks.
Earning Potential: Most delivery drivers for FedEx and UPS are union workers. Thus, they have the union to fight for pay increases. Plus you can increase your salary by moving up in the ranks.
22. Licensed Plumbers
Get ready to hop into commercial, residential, and industrial projects, working flexibly based on your schedule.
If you love problem-solving and can handle the occasional wade through the muck, then this amazing career is for you! Don’t worry about your expertise level; It’s the perfect time for you to dip your toes into the world of plumbing.
Earning Potential: Don your gloves, grab your tool kit, and join the ranks of expert plumbers making upwards of $25 an hour.
23. Athletic Trainers
Are you into sports and fancy being in the thick of the action?
You are considering becoming an Athletic Trainer – a well-paid role that combines both your passions brilliantly. Then, get to work closely with athletes, which means you’re right at the heart of the sports action.
You’ll need to be certified and licensed in healthcare to offer your professional services. The ball’s in your court!
Earning Potential: Earning about $25 per hour, it’s among the few amazing careers that can up your game financially and health-wise. Also, it may take you to the Super Bowl as the team’s athletic trainer!
24. Customer Service Managers
So, you’re a people person with a knack for solving problems? Consider a job as a Customer Service Manager.
This job is best for ambitious, empathetic individuals who love making a difference in customer experience, enhancing team performance, and ensuring business profitability.
Want to up your game? Brush up on customer relationship tools like Hubspot or project management tools like Asana. Then, prepare to rule the customer service realm as an expert Customer Service Manager.
This can be a great non-phone work-from-home job as many customer service requests are handled through chat and email.
Earning Potential: One of the amazing careers that pay a satisfying $25 per hour, it’s a chance to flex those crucial customer service muscles while managing a team.
25. Freight Broker
With an average pay topping most traditional roles, this often-overlooked profession is a gem amidst the rubble.
Here’s why: Despite its lucrative nature, competition in freight brokerage is surprisingly low.
Jumpstart your journey with a free webinar or training – there are many available online. This will equip you with vital information about the ins and outs of the role and the industry.
Earning Potential: You will be surprised to learn what a freight broker’s salary can be.
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This course is designed to help you source more leads and move more freight. Or even start your brokerage!
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FAQs
Have you ever dreamt of earning $25 an hour with flexible hours at your convenience?
The list above are some of the jobs that can earn $25 an hour. However, try to evaluate yourself if the requirements perfectly suit you. By having skills and experience on the said job you can ace up and boost your chances of getting one of the high-paying jobs above.
Unlock and upgrade your skills now by attending any training that aligns with your dream job. Be able to receive a rewarding amount of earnings in your pocket!
These amazing careers above can fetch you at least $25 per hour. Start earning big and turn your dream into your paycheck.
Improving your skills through attending training, updating certificates, and seeking additional knowledge in your field. Plus, It increases your chances of landing a job that pays $30 an hour.
Actively applying for new jobs, particularly those that value your enhanced skills, can open the door to higher-paying opportunities potentially enabling you to reach that $30 an hour wage.
So master the craft, build your credibility, and let your work do the talking.
The ball is in your court now. Step up and start crafting your destiny, one skill (and dollar) at a time. So, start attending any training that is aligned with the career you’re looking for.
Find out what should I do for a living. Sign up for a free webinar or training. Sites like Udemy and Coursera offer a plethora of free courses to help you fine-tune your skills or discover new ones.
Which Applications will you Submit for jobs paying 25 an hour?
The possibilities in today’s remote job market are exhilarating. Amid the myriad of options, some rake in at least a solid 25-dollar-an-hour job.
Begin by brushing up on your skills or discovering new ones through free webinars or training sessions that align with your chosen profession to increase your qualifications. Make sure your resume is polished and start applying to suitable jobs in your field. The next step is nailing that job interview.
Thus, finding and applying for such lucrative positions is not just an aspiration for a better standard of living, but a practical step towards improved financial stability.
Remember to job-seek smartly and relentlessly. The end game is finding that perfect remote job – working on your terms, from your comfy corner of the world, and padding your bank account one $25 hour at a time. It’s time to get cracking!
Know someone else that needs this, too? Then, please share!!
Refinancing your mortgage can be a smart financial move if you do it the right way. You can tap into your home equity, get a lower interest rate, or even shorten or lengthen the terms of your loan. All of these are great outcomes for you and your wallet.
But here’s something that’s not so great: Picking the wrong mortgage refinance lender.
This one major mistake can potentially cost you tons of money in closing costs, hidden fees, and high interest rates.
You can avoid that by learning just a bit about what to expect throughout the refinance process and how to find the right lender. We’ll walk you through everything you need to know and give you some suggestions for the big decision.
9 Best Mortgage Refinance Lenders of 2023
We’ve compiled a list of the best mortgage refinance companies with the most competitive mortgage rates. Read through our short reviews to understand what kind of mortgage products they offer and how their process works. It’s an excellent resource for narrowing down your list of refinance lenders to consider.
1. loanDepot
loanDepot is a lender that values and earns customer loyalty. This is evident by their refinancing lifetime guarantee. Once you refinance with them the first time, they will waive their lender fees and reimburse your appraisal fee.
It’s also an excellent choice for people who like a person-to-person connection. You can call them at any time to talk directly to a loan officer.
This can be especially helpful for a refinance because there are many reasons for refinancing and many ways to refinance.
After defining your goals, they let you choose from both fixed-rate and adjustable-rate loans. There are other loan types available, such as jumbo and government, or even home equity loans. The minimum credit score is 620.
They are committed to customer satisfaction and back it up with extensive refinance products.
Terms and conditions apply.
Read our full review of loanDepot
2. LendingTree
LendingTree offers a ton of benefits when it comes to refinancing. First, the online process is very easy and can even get you a mortgage rate quote in under three minutes.
LendingTree isn’t a direct lender and instead matches you up with multiple loan offers with mortgage lenders, so you can compare your options.
Here’s why that’s so helpful.
It makes LendingTree’s refinance options much more robust than many other online lenders. For example, you can convert an adjustable-rate mortgage into a fixed rate or refinance your FHA loan or even VA loan.
You can also cash out home equity as part of your refinance or choose from multiple loan terms.
If you’re still in the information-gathering stage of your refinance journey, LendingTree’s website has many valuable resources.
Play around with numbers to check out different scenarios using tools like their refinance calculator and cost estimator.
Read our full review of LendingTree
3. Rocket Mortgage
Another driving force in the online refinance marketplace is Rocket Mortgage, which is part of Quicken Loans.
The application process is straightforward and can be completed entirely online. You can pick your goal for your refinance to help Rocket tailor your loan offers.
You can even link your financials and property information so that you don’t have to gather and upload all the documentation manually. In fact, 98% of financial institutions in the U.S. can be imported for both your bank statements and investment assets.
Rocket Mortgage also allows you not only to browse different options but also customize them. You can choose from a traditional mortgage product, FHA loans, VA loans, USDA loans as well as fixed or adjustable rates. The minimum credit score is 620.
For an exceptional customer service focused experience that’s entirely based online, Rocket Mortgage is certainly worth exploring.
Read our full review of Rocket Mortgage
4. New American Funding
Another direct lender, New American Funding, is a mortgage company that simplifies the online mortgage process. Get started by selecting the type of real estate you want to refinance.
You can choose from:
Single family home
Condo
Townhouse
Multi-unit
Other
You’ll then answer a series of questions about your personal information, including the existing loan amount and your credit scores.
Afterward, you’ll get a quote estimate on the type of refinance loan you could potentially receive. You can also call the 800-number at any time to speak to one of New American Funding’s loan officers.
The average refinance saves their customers about $360 per month. So, they’re definitely worth checking out, especially if your goal is to lower your payment amount.
Read our full review of New American Funding
5. SoFi
SoFi started as a student loan refinance company and has recently branched out to mortgage refinancing as well. One of the key advantages here is that they go beyond the traditional credit score and base your qualification on high-tech algorithms using various criteria.
In addition to the typical refinance and cash-out refinance options, SoFi also offers a refinance product specific to paying off your student loan debt.
As a result, you could end up lowering your monthly mortgage payment on top of getting rid of your student loan payments.
SoFi lets you check your prequalification for a refinance in just two minutes without affecting your credit score. You can usually close on your new loan within 30 days, and you don’t have to pay any lender origination fees.
A final bonus? If you have an existing SoFi loan, you can qualify for an additional 0.125% rate discount on your refinance.
Read our full review of SoFi
6. Guaranteed Rate
This major lender has offices in each state (plus the District of Columbia) but also lets you get started using its Digital Mortgage platform.
Guaranteed Rate requires a minimum credit score of 620 for mortgage approval. However, alternative credit data, such as utility and rent payments, are considered in some cases.
Guaranteed Rate is highly rated for customer service. They consistently receive stellar customer reviews with a satisfaction rate above 95%.
Whether you want a completely online refinance experience or a more personal one, they deliver.
Read our full review of Guaranteed Rate
7. Carrington Mortgage Services
Carrington begins the process by asking you to select one of four goals:
Lowering your interest rate
Lowering your payments or consolidating debt
Remodeling your home
Getting cash out
Fill out a contact form to have them get in touch with you. Alternatively, you can call Carrington anytime between 7:00 a.m. and 6:00 p.m. PST, Monday through Friday.
If you like a lot of personal care and attention throughout the process, you’ll appreciate Carrington. Their mortgage professionals walk with you every step of the way to ensure you have a speedy and successful closing.
Read our full review of Carrington Mortgage Services
8. Bank of America
One of the biggest banks out there, Bank of America puts its resources to good use by creating a comprehensive and easy online user experience.
You can zip through the application from start to finish by uploading all of your supporting documentation and e-signing with a touch of your finger.
Plus, Bank of America practically has a complete offering of refinancing products, including fixed-rate loans, ARMs, jumbo loans, FHA loans, and VA loans. B of A’s interactive website also makes it easy to get a rough estimate of current mortgage interest rates.
All you have to do is type in your zip code and desired loan amount, and you can see where refinance rates start for various mortgage types.
If you already bank with B of A and are a Preferred Rewards member, you may also be eligible for a reduction of your mortgage origination fee anywhere between $200 and $600.
Read our full review of Bank of America
9. Chase
You don’t need to be a bank member to refinance with Chase. And if you prefer to work with a traditional bank over a strictly online lender or matching website, then Chase is a strong choice.
Start the process online by choosing one of two goals: lowering your monthly payment or cashing out your home equity.
From there, you can get started on the prequalification form. Be prepared to enter information on your current mortgage and your finances.
If you ever have a question before or during the application process, you can either call or connect with a home lending advisor in person in one of 28 states.
There are plenty of refinancing options available through Chase, including jumbo, FHA, VA, and HARP loans. As with most other lenders, the minimum credit score is also 620.
Read our full review of Chase
How does refinancing a mortgage work?
Applying for a refinance is very similar to applying for a home loan. It’s also important to note that you don’t have to use your current lender or servicer. You can pick any mortgage lender that you’d like for your refinance.
After shopping around for lenders and comparing your loan options, you’ll have to complete a formal application. This involves submitting your income and financial statements. The loan officer and underwriter will review your materials to make sure you can afford the new terms.
Mortgage Refinance Requirements
Mortgage refinance lenders are primarily concerned with three things: credit score, debt-to-income ratio, and average loan-to-value ratio (LTV).
Credit score: The minimum credit score for most mortgage refinance companies is around 620.
Debt-to-income ratio: Your monthly debt should not exceed 43% of your monthly take-home pay, just like a regular mortgage. In addition to personal loans and credit card debt, they also include your new mortgage payment in that number.
Loan-to-value ratio (LTV): Lenders would like to see a low loan-to-value ratio (LTV). Typically, you should have at least a 20% equity in your home. In addition to personal loans and credit card debt, they also include your new mortgage payment in that number.
You’ll be required to get an appraisal of your home as part of the process. This makes sure the property lives up to its estimated value and helps determine your total equity in the home. You don’t need to do anything special before the appraiser arrives. However, it is wise to clean and tidy up to make a favorable impression.
Thereafter, you just have to wait for closing. Usually, your lender lets you pick the date, time, and location. Next, they’ll send a notary who will walk you through signing the closing documents. Then, you’ll start fresh with your new payment schedule. If you’ve cashed out some of your home equity, you can typically receive a check or have it deposited directly into your bank account.
How to Choose a Lender to Refinance Your Mortgage
When you decide to refinance, picking the right lender is vital to your financial success.
Mortgage refinance lenders structure loans differently, depending on whether you want to minimize closing costs or lower monthly payments—or a combination of the two.
The first thing to look at is what kind of refinance loans the lender offers. For example, you can find FHA refinance loans with lower minimum credit score requirements than conventional loans if you’re looking for a government-backed refinance.
Loan Terms
Alternatively, you may want to refinance into a shorter term than the standard 30-year fixed mortgage. Look for mortgage refinance companies that offer multiple options, such as 10, 15, or 20-year mortgages. Then, you can compare refinance rates and payments and pick the best one.
As with any kind of loan, you also want to shop around for mortgage rates. Not every lender automatically offers the same interest rate or APR. You’ll also want to compare closing costs as part of the evaluation process. You need to know both your upfront costs and long-term costs in terms of interest.
Closing Costs
If you want to minimize the amount of cash you bring to the table, ask whether your closing costs can be rolled into the loan.
There are numerous ways you can tackle mortgage refinancing. That’s why picking the right refinance lender can make a huge difference. They can help you understand the pros and cons of different options, so you can make the right choice.
Don’t be afraid to ask questions. Ask for specific numbers, and talk to a few different lenders to get an idea of their recommendations and refinance process.
When to Refinance a Mortgage
Now that you’ve learned of the best refinance lenders out there, make sure you’re refinancing for the right reasons. Here are some of the most common reasons for refinancing a mortgage.
Lower Your Monthly Payments
It’s entirely possible to refinance to lower your payment amount. To save money over the life of your loan, you could refinance into a lower interest rate if mortgage rates have dropped since you got your loan. Or, if your credit score has improved, you might be able to qualify for a lower refinance rate as well.
If you’re having trouble making your payments, you could also consider refinancing into a longer loan term. This spreads out your existing mortgage amount over more years.
For example, if you’ve been paying your mortgage for 10 years on a 30-year loan, you could extend the existing 20 years over another 30 years. However, you should proceed with caution, depending on your financial situation and retirement plans.
Cash Out Your Home Equity
If you have equity in your home—at least 20%—you could potentially qualify for a cash-out refinance. This allows you to get a lump sum of money and then add that amount to your existing loan. Usually, you can borrow up to 80% of your equity.
Let’s take a look at an example.
Say your home is valued at $200,000, and your mortgage is down to $150,000. That leaves you with $50,000 in equity. The bank will let you borrow up to 80% of that, which is $40,000.
If you qualify for the mortgage, you could then refinance a total of $190,000. You can then use the cash for home renovations, college tuition, medical bills, high-interest debt, or anything else.
Change the Terms
Shorter loan terms typically come with lower mortgage rates since there’s less of a chance for you to default on the loan. Once you’ve paid off a portion of your current 30-year mortgage, you may be able to save on interest by switching to a 15-year mortgage.
If, for example, you’re 15 years into a 30-year fixed mortgage, you only have 15 years left to pay. So, you could potentially save thousands by getting a lower interest rate via an actual 15-year fixed mortgage.
Switch to a Fixed Rate Mortgage
If you initially took out an adjustable-rate mortgage (or ARM) and your fixed period is ending, you should consider refinancing your loan. There’s a cap on how high your adjustable mortgage can go. It could potentially be much higher than current fixed interest rates.
Talk to a lender to see the best option to avoid a significant jump in your monthly payment. And be sure to plan ahead since it can take time for the approval process to finish.
See also: How to Refinance Your Mortgage
When Not to Refinance
When shouldn’t you refinance? If your credit score has dropped significantly since you took out your original mortgage, you may be surprised by higher interest rates. Similarly, refinancing today may not save you money if you qualified for a rock-bottom rate during the recession.
Furthermore, consider that every mortgage refinance comes with closing costs, just like your initial home loan. Therefore, you need to make sure any financial benefits you expect to receive from your refinance outweigh the added closing costs.
All of these considerations can be discussed with a suitable lender, whether in person, on the phone, or online. Do the research it takes to make sure you’re making an intelligent decision on your next home refinance.
Frequently Asked Questions
What are the steps to refinancing a mortgage?
The process of refinancing a mortgage typically includes the following steps:
Determine if refinancing makes sense for your financial situation and goals.
Research and compare different mortgage lenders.
Choose the right lender and loan product for your needs.
Complete a formal application, providing all necessary income and financial documents.
Wait for the lender’s underwriting process, which includes verifying your information and appraising the home.
Once approved, arrange for a closing where you will sign all required documents.
Begin your new payment schedule, or receive your funds if you’ve done a cash-out refinance.
How does refinancing a mortgage affect my credit score?
Refinancing a mortgage can temporarily lower your credit score, as the lender will perform a hard credit check during the application process. This is typically a small drop and should recover over time as long as you continue to make regular, on-time payments. Additionally, the old mortgage will be marked as paid off on your credit report, which can be beneficial to your credit history in the long run.
What are some reasons I might not qualify for a mortgage refinance?
If your credit score has significantly dropped since you took out your original mortgage, you may not qualify for a favorable interest rate, making refinancing less beneficial. Additionally, if your debt-to-income ratio is too high, you may not qualify. Lastly, if you do not have sufficient equity in your home (usually at least 20%), you may not qualify for certain types of refinancing.
Can I refinance my mortgage with bad credit?
While it may be more difficult to refinance your mortgage with bad credit, it’s not impossible. Some lenders specialize in loans for individuals with poor credit, and government programs like the FHA refinance loans may have lower credit score requirements. However, be aware that you will likely be offered higher interest rates.
How much does it cost to refinance a mortgage?
The cost of refinancing a mortgage typically includes an origination fee, an application fee, an appraisal fee, and closing costs, among other potential costs. This can usually amount to between 2% and 6% of the loan amount. However, in some cases, you may be able to roll these costs into your loan to reduce your out-of-pocket expenses at closing.
Can I refinance my mortgage more than once?
Yes, you can refinance your mortgage more than once. However, it’s important to consider the costs of refinancing, such as closing costs and possible prepayment penalties, and weigh them against the benefits you expect to receive. You’ll want to make sure that refinancing makes financial sense each time.
What’s the difference between a cash-out refinance and a rate-and-term refinance?
In a cash-out refinance, you take out a new mortgage for more than what you currently owe, and then receive the difference in cash. This can be useful if you need to cover large expenses or consolidate higher-interest debt.
A rate-and-term refinance, on the other hand, changes the interest rate, the term length, or both of your existing mortgage, but you don’t receive any cash. This is typically done to lower monthly payments or to pay off the loan faster.
When should I consider a fixed-rate mortgage over an adjustable-rate mortgage?
A fixed-rate mortgage may be a better option if you plan to stay in your home for a long period of time and want predictable, stable monthly payments. On the other hand, an adjustable-rate mortgage (ARM) may initially offer a lower interest rate, but it can fluctuate over time. An ARM could be a suitable option if you plan to sell or refinance your home before the interest rate starts adjusting.
Somewhere between the timeless allure of traditional and the clean lines of contemporary, we find transitional style.
As spaces evolve with modern times, so too does the desire for a balanced blend of the old and new. We’ll delve into the nuances of the transitional design style, an embodiment of sophistication and simplicity, harmoniously woven together.
Keep in mind, transitional style is all about finding that sweet equilibrium, where curated antiques meet minimalist modern, creating a unique and welcoming space that ultimately feels like home. Here’s how you can spot the look in real life and recreate it in your own spaces.
Transitional style 101
What are some basics of the transitional interior design look? Not every transitional space will check every box, but you’re likely to find a medley of the following features.
Neutral color palette: One of the hallmarks of transitional design is a largely neutral color palette. Think beiges, grays, creams and tans, which serve as a base. This doesn’t mean color is absent; rather, pops of color are introduced sparingly through accessories, art and accent pieces.
Clean lines with curved profiles: Furniture in transitional spaces combines the straight lines seen in more contemporary pieces with the curves and detailing of traditional designs. For instance, a sofa might have clean, minimalist lines but be upholstered in a classic fabric or have tufted details.
Mix of materials: You’ll often see a mix of materials in transitional design. This might mean a glass coffee table with an ornate wooden base, or a modern metal light fixture above a traditional dining set. The juxtaposition of these materials creates visual interest.
Texture and fabric: With a neutral color palette, texture plays a big role in transitional style. Think tufted rugs, linen drapes and textured cushions. A variety of fabrics from leather to velvet can be used — in moderation — to bring depth, warmth and drama to any space.
Less ornamentation: Unlike traditional design, which might include heavy moldings or detailed woodworking, transitional spaces tend to be on the simpler side. However, they’re not as stark or minimalist as traditional Scandinavian or Japanese interior design styles.
Art and accessories: Transitional apartments might showcase modern art in ornate frames, or traditional art in sleek, minimalist frames. Accessories, like vases or lamps, should strike a balance between the contemporary and traditional. It’s all about toeing the line between styles without leaning too far in one direction.
Functional and uncluttered spaces: While the look is balanced, transitional design embraces functionality. This means adequate storage solutions to ensure spaces are free of unnecessary items, which is especially important in apartment settings where space may be at a premium.
Natural light: Embracing natural light is key in transitional design. Light and airy window treatments that allow for plenty of sunlight help make the space feel open and welcoming without requiring additional accessories or loud colors.
Area rugs: To define spaces, especially in an open-concept apartment, use area rugs. This helps to visually break up the space while also adding warmth and texture.
Consistency: Even though transitional style is about blending, it’s important to maintain a sense of consistency. This means not every piece in a room should be a mix of modern and traditional. The goal in transitional design is that the room — as a whole — achieves this balance.
Transitional design style in action
If you want to apply the transitional style to your apartment, start with a neutral foundation, incorporate modern and traditional elements carefully and remember to keep it functional and uncluttered. With a keen eye for design and balance, you can create a space that feels equal parts fresh and timeless.
Soft transitional design: a 2023 trend
In 2023, the soft transitional interior design style gained significant popularity for its harmonious blend of traditional and contemporary elements. This style is characterized by its emphasis on creating a warm and inviting atmosphere while maintaining a clean and streamlined aesthetic.
While both soft transitional and OG-transitional interior design styles share common transitional elements, the former distinguishes itself through its heightened emphasis on comfort, a subdued color palette with subtle pops of color and a strong focus on textures that contribute to a warm and inviting atmosphere. With this in mind, you might see more cozy blankets, stacks of pillows, soft textures and more handmade keepsakes to embrace your best “soft life” and remind you of what you value most.
Transitional design: A how-to guide
Transitional style strikes a delicate balance between the timeless elegance of traditional designs and the sleek minimalism of contemporary style. This design approach merges the best of both worlds to create a harmonious space that feels cozy yet sophisticated. For apartment renters, mastering the transitional style can result in a home that is functional and uniquely personal.
Transitional design tips for renters
Need a few starting tips to implement this design in your home? Start by trying a few of these.
Start with the basics: For apartment renters, it’s best to start with the essentials. Invest in key pieces like a versatile sofa, a neutral rug or a functional dining set. These foundational items set the stage for the rest of the decor. With the larger pieces out of the way, you can add small artifacts and accessories over time to fully round out your design and make your place feel fully like home.
Modular furniture: Given the sometimes limited space in apartments, opting for modular furniture can make a big difference. These pieces can be easily rearranged or adapted to fit different spaces, making them perfect for transitional stylists who love to switch things up every few months.
Layered lighting: Lighting plays a crucial role in transitional spaces. Incorporate different light sources – from ambient and task lighting to accent lights. This layered approach not only provides functionality but also adds depth and warmth to the apartment.
Temporary touches: Renters often face restrictions when it comes to permanent changes. But that doesn’t mean you can’t achieve the transitional style. Removable wallpapers, peel-and-stick tiles and adhesive hooks can transform spaces without compromising the apartment’s original state.
Personal artifacts: Just because it’s transitional doesn’t mean it can’t be personal. Integrate family heirlooms, personal artworks or cherished collectibles. These items add warmth to any room and tell a story, making even the most cookie-cutter apartment unit feel like home.
Remember to rely on balance
Transitional style is about balance. It embraces change while respecting tradition. This approach offers apartment renters the flexibility to evolve their decor over time without straying too far from the foundational elements that make their space feel like home. With careful planning and a keen eye for design, any apartment can radiate the effortless elegance of transitional style.
Traditional and modern meet in transitional design
The beauty of transitional style lies in its innate ability to resonate with a wide range of audiences. It’s a symphony of eras, harmonizing the classic charm of traditional pieces with the sleek essence of contemporary design. As we’ve explored in this article, mastering this style isn’t about strict rules or rigid definitions; it’s about embracing fluidity, adaptability and a keen eye for balance.
As spaces continue to evolve and reflect the multifaceted personalities of their inhabitants, transitional style stands out as a testament to timelessness, bridging the past and the present in an expertly choreographed dance of design perfection.
Still looking for that perfect space to showcase your style? Browse our available apartments for rent here.
A native of the northern suburbs of Chicago, Carson made his way to the South to attend Wofford College where he received his BA in English. After working as a copywriter for a couple of boutique marketing agencies in South Carolina, he made the move to Atlanta and quickly joined the Rent. team as a content marketing coordinator. When he’s off the clock, you can find Carson reading in a park, hunting down a great cup of coffee or hanging out with his dogs.
