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Apache is functioning normally

October 3, 2023 by Brett Tams

Former Major League Baseball outfielder Justin Upton is looking for a buyer for his ultra-stylish Orange County home.

Upton, who played for the Arizona Diamondbacks, Atlanta Braves, San Diego Padres, and Los Angeles Angels before becoming a free agent in 2022, wants $6,795,000 for the 5-bedroom home, which sits in a prime area in the notoriously pricey Newport Beach.

^{Justin Upton left fielder for the Detroit Tigers at Chase Field in Phoenix AZ USA June 9, 2017. Photo credit: Keeton Gale / Shutterstock}

The property is located in the coveted Dover Shores neighborhood, a small community on the Back Bay in Newport Beach, where homes are rarely up for grabs.

“The Dover Shores area is highly desirable due to it being located in Mariners School District which is a blue ribbon school nearby,” listing agent Annie Clougherty of Compass tells us. “Prices are holding and demand continues to be strong in this area due to many buyers relocating to Newport Beach.”

And Justin Upton’s house has quite a few features that stand out — even for the posh area it’s set in. According to Annie, “In this area most commonly referred to as Dover Shores, finished basements and subterranean levels are very rare.”

Upton’s house “boasts an impressive, fully livable finished entertainer’s basement. Exceptional details include 100-year-old fabricate wood turned wood floors and a tri-level floating staircase with three-inch treads.”

But before we move on to the impressive entertainer’s basement, let’s take a minute to gloss over the many other attributes of the Newport Beach house.

^{Justin Upton’s house in Newport Beach, California. Photo credit: Alejandro España courtesy of Compass}

Clocking in at almost 6,000 square feet of living space, the former MLB player’s house has 5 bedrooms, 6 full baths, and 1 half-bath.

Originally designed by Randall Coombs Architects and reimagined by Scottsdale-based DeCesare Design Group, the residence’s polished interiors feature rich solid oak hardwood floors (carefully milled from 125-year-old reclaimed barnwood), expansive 17-foot and 15-foot sliding door systems that open to the outdoor areas, and plenty other luxe finishes.

The home has an open floor plan anchored by a chef’s kitchen, fitted with top-of-the-line Thermador appliances, juxtaposed against handmade butcher blocks and lava stone countertops. From the main living area, floor-to-ceiling sliding doors lead to an outdoor deck, built-in barbecue, and fire pit.

^{Photo credit: Alejandro España courtesy of Compass}

But the pièce de résistance is the three-level centerpiece floating staircase with 3-inch solid oak treads, a striking symbol of architectural ingenuity.

^{Photo credit: Alejandro España courtesy of Compass}

Four bedrooms are on the upper level, while a fifth bedroom, bonus room, and kitchen sit on the main level of the stylish abode.

^{Photo credit: Alejandro España courtesy of Compass}

The basement level is where the fun’s at, featuring a surround sound movie theater, bar with popcorn maker, and a glass-enclosed wine cellar — making it the ideal space to entertain guests.

^{Photo credit: Alejandro España courtesy of Compass}

The upscale Newport Beach house is listed for $6,795,000, with Annie Clougherty at Compass holding the listing.

More stories

See inside Mark Cuban’s Laguna Beach vacation home

Oceanfront Home on Dana Point’s ‘The Strand’ Sells for $21.25M

At $29.5 Million, The Island House is One of Orange County’s Priciest Listings

Source: fancypantshomes.com

Apache is functioning normally

October 2, 2023 by Brett Tams

Working from home has emerged as a common option for some employees as many companies have adopted the hybrid model and new work from home trends have evolved.

A dedicated workplace is becoming more of a priority for employees, especially those who live with roommates or other family members in an apartment. An extra bedroom or a nook is now an essential feature when people consider moving to or renting a new apartment.

While some employees have returned to the office, other people work for companies that allow a hybrid schedule and only require going to the office two to three days a week. Creating an office atmosphere is critical, especially for people who work with teams or spend many hours of the day on phone calls or video meetings. Sitting at the dining table or in a corner of the living room is no longer a conducive work situation for some people who want a dedicated space.

Here are six work-from-home trends that renters are seeking for 2022.

1. Extra bedroom-nook

“Renters will continue to prioritize functional remote workspaces,” said Ericka Rios, co-founder and director of leasing for Downtown Apartment Company, a Chicago-based brokerage that matches renters with approximately 16,000 apartments in more than 200 properties across the Windy City.

Rios also expects renters to seek work from home-friendly floor plans offering bonus rooms or pocket office nooks.

“Working from home has become a permanent part of the landscape with Chicago renters and they are changing their living situations to accommodate it,” she said. “While some workers have gone back to the office, many are still working from home some or all of the time and need a more functional space for their home office. Many have upgraded to a larger living space with an additional room dedicated to a home office, while others are moving to buildings that offer a more traditional co-working space. The common thread is that nearly everyone has prioritized finding a functional WFH situation within their apartment community.”

Maria Abbe, a public relations executive who lives in Florida, said she recently moved into a two-bedroom apartment to have additional space.

“I wanted extra space, ample lighting and an open kitchen/living room so I don’t feel like I’m holed up in one room all day,” she said. “The palm trees help, too.”

2. Storage areas

Having enough storage in an apartment or in another part of the building is important to many people who prefer to spend their time outside and want to safely stash their sports or exercise equipment, such as a bicycle.

“Storage space in the common areas is critical these days,” said Teresa DeVos, executive vice president of operations at RKW Residential, a Charlotte, NC-based, third-party, multifamily management firm that oversees more than 30,000 apartments throughout the southeast region.

“How that space is designed and delivered depends on the demographics and geographic area the community is located in,” she said.

Secure storage located in a nearby location is a consideration

A community in a walkable, urban neighborhood requires significant space for bike storage. Renters working from home want to get their bikes out of the apartment and in a secure space.

“One of our communities located on the water has many kayaking enthusiasts as residents, so we had to allocate space for kayak storage,” DeVos said. Working from inside an apartment all day makes getting fresh air and exercise that much more important.”

3. Adequate natural light/more windows

When you spend all day working from home, having enough natural light emerges as a priority. Some people thrive in work environments with a lot of sunlight and are more productive.

“Natural light or a big window to place your workstation is vital for the workday when you live in New York City,” said Raj Nijjer, CMO of Refersion, a company that helps online shops track sales driven by promoters, influencers and affiliates. He prefers anything green or trees outside and likes having the ability to take a short walk on quiet streets for breaks or phone calls.

“Natural light is very beneficial to wellness, especially for those who work from home,” said Linda Kozloski, creative design director at Lendlease, an Australian-based integrated real estate and investment group.

The broad windows at Cascade, a 503-unit luxury apartment tower that recently opened in Chicago’s Lakeshore East neighborhood, and Porte, a 586-unit development in Chicago’s West Loop that opened during the pandemic, not only let in the “ample daylight that residents desire, they offer views of the skyline and nearby parks, allowing residents to take mini breaks as they work, moving their eyes from their screen to the view,” she said.

“The most common request we are getting from renters about working from home is having the ability to carve out a little area of the apartment as a space to work comfortably and with plenty of natural light or LED lighting,” DeVos said.

“We have taken the step of staging our model apartments to incorporate such spaces so prospective renters can visualize what working from home would look like,” she said.

Large windows help with productivity

Freda Moon, a travel editor at SFGate, said having a view like a big window overlooking a park and a location with restaurants and bars nearby with a lot of activity becomes more important. “I don’t want to feel cooped up,” she said.

Large windows with natural light and “a view of the city to feel like I was in a real office which helps with productivity,” said Justine D’Addio, a publicist for startups, who works from home in downtown San Francisco. “Having a larger than average balcony is great for work breaks and overlooking whatever ‘hustle & bustle’ is left here,” she said.

4. Noise control

Being able to manage the amount of noise from inside the apartment and from within the building is critical for people who need less noise to complete projects. WFH employees find this to be a necessity, especially if they’re living with a partner, children or roommates.

“There has always been high demand for sturdy, well-built communities, but now that more of our residents are working from home, they appreciate that our projects are designed to high acoustical standards,” Kozloski said. “The double-glazed glass in the façades of Porte and Cascade act as a noise-mitigation measure, ensuring that most external sounds are not detectable.”

Other people want a quiet respite from street noise or have no desire to hear their neighbors walking around their apartments. Michael Dehls, an IT professional living in Rutherford, NJ, said, “I think the ability to manage noise is extremely important, especially for couples. ”

His previous apartment had no doors between rooms, which made it tough when both he and his wife had to take conference calls simultaneously. Their new apartment has doors in most of the rooms.

“Being able to limit the amount of noise she heard from her neighbors was essential,” said Liz Froment, a Boston resident, who moved during the pandemic.

“A huge one for me was limiting neighbor noise,” she said. “I went from being surrounded on all sides to a top floor corner unit sharing only one small wall.”

5. Meeting or co-working room

Being able to work in a meeting room in the apartment’s lobby or having a silent booth for taking phone calls is a necessity. Others need a break from their roommates or family members.

“Building amenities like co-working areas with meeting rooms, private booths or dedicated Zoom rooms will be in high demand during the year ahead,” Rios said.

“Renters also want the ability to create such environments throughout the community, whether it is individual ‘phone booth’ private spaces to make calls and have virtual meetings or co-working areas for small groups to get projects done,” DeVos said. “If we can incorporate small workspaces into rooftops, especially in cities with great views, we make sure to do so.”

Change of scenery needed for WFH employees

“The amenity arms race has always included meeting spaces that allow residents a change of scenery so they can get work done outside of their unit,” Kozloski said. “Since the start of the pandemic, some buildings also offer work pods that are designed for one person to do head-down work.”

“At Cascade (which is 50 percent occupied) there have been nearly 600 reservations for the two reservable conference rooms since launching reservations on Oct. 1,” she said. “These spaces are open 24 hours a day and the most popular reservation time is between 1 p.m. to 3 p.m. Cascade also added Stockwell vending machines, coffee service and a Print with Me printer in this same space as the reservable study areas as a convenience for those that work from home.”

“A top consideration for renters is how an apartment building provides working from home options,” said Jon Schneider, senior vice president for Fifield Cos., a Chicago-based boutique real estate developer that owns multifamily buildings in multiple markets, including two properties that opened during the pandemic in Chicago.

Their buildings are primarily located in or near city centers, which offers easy access for those who have returned to the office, but “estimates show about 50 to 60 percent of its residents are still working from home,” he said.

“We anticipate the flexibility to work from both an office and from home will continue to be a factor for the long term,” Schneider said. “Data suggests eight out of 10 renters expect to be working from home at least part of the time now and in the future,” he said.

Demand for co-working suites is rising

“Residents at their building in the Logan Square neighborhood of Chicago like having access to a full co-working suite with individual booths providing separation with a sense of openness, small offices offering a less distracting, more private space for phone calls and focused work and a more traditional conference room with a large table and wall-mounted monitor for group meetings or space to spread out,” Schneider said.

“Having this common space allows residents the flexibility to lease whatever floor plan best fits their budget and lifestyle because they know work-from-home space is covered,” he said. “The co-working spaces in our buildings like Logan Apartments and Westerly are consistently utilized and some residents even bring an entire computer set-up with monitors and PCs down to the co-working space on a daily basis. In terms of COVID protocols, we follow whatever the local government guidelines are for masks and social distancing.”

6. Outdoor space

Having access to outdoor space at the apartment complex, such as a balcony with adequate room for a table and chairs, a small garden and/or a dog park, is what some renters prefer.

Some renters find that having a dog park is just as important as having enough light or an extra room.

A dog park is what made the difference in choosing the last apartment for Angela Tague, a marketing writer and journalist who lives in Sioux City, IA.

“It was great for my dog to exercise and meet other dogs and got me outside more,” she said. “Win. Win.”

Access to outdoor areas is a priority

The Downtown Apartment Company in Chicago said 75 percent of its rental clients now want access to private outdoor space and they’re willing to pay a premium for it. Units with balconies tend to rent at 30 cents to 40 cents more per square foot. Rios also said that the No. 1 location for a balcony is off the bedroom, which can be hard to find as most units feature a balcony off of the living area.

“Another interesting insight is that balconies are leveling the playing field a bit between older Class A buildings and newer Class A+ buildings with tons of high-end amenity space, but no private balconies, ” Rios said.

“Balconies allow renters to work outside in temperate weather,” she said. “I’ve heard from the Porte leasing team that balcony units were the first to go because people wanted that second location to work from home.”

“Both Cascade and Porte have generous outdoor amenity decks that include, among other things, plenty of lounge furniture where renters can sit with a laptop to get work done. In addition, Cascade has a 32nd-floor lounge space overlooking Navy Pier that includes an adjacent study room for those who want great views and a quiet space.”

Work from home trends will continue

Many work-from-home trends will continue in 2022 as renters seek new living quarters. Some will continue their hybrid work models, while others will spend more time in the office.

Employees prefer to have a defined workspace, whether it’s another room or areas dedicated to relaxation or exercise, such as a balcony, small green space or a dog park. They want to spend time outdoors and away from their screens.

Source: rent.com

Apache is functioning normally

October 2, 2023 by Brett Tams

The Federal Deposit Insurance Corp. (FDIC) looks to have found a way forward for the portfolio of affordable-housing assets it took over from failed lender Signature Bank.

In its announcement that it has begun the process to sell the $33 billion of commercial real estate loans from Signature, FDIC said it will create joint ventures with potential buyers of the approximately $15 billion in loans for multifamily residences that are rent- stabilized or rent-controlled.

The regulator said the move is part of its obligation to ensure that it helps preserve affordable housing “for low- and moderate-income individuals.” The majority of these loans are for properties in New York City.

New York City pedestrians on March 13, 2023, walk past a Manhattan branch of Signature Bank, which was closed by regulators on Sunday. An apartment building in the Astoria neighborhood of Queens in New York City is pictured in the inset on March 19, 2018. The FDIC has progressed with the affordable-housing assets it took over from Signature.
Spencer Platt/Drew Angerer/Getty Images

FDIC said that it will retain “a majority equity interest” in the venture while the winning bidders will be tasked with the “management, servicing and ultimate disposition of the loans.”

“Operating agreement will provide certain requirements that facilitate the financial and physical preservation of these loans and underlying collateral,” it said.

A spokesperson at FDIC told Newsweek that the “joint venture transactions enable the FDIC to retain a majority interest while transferring day-to-day management responsibilities to private sector professionals who also have a financial interest in the assets and an obligation to share in the costs and risks associated with ownership.”

The decision by FDIC to want to preserve affordable housing for low-income residents comes at a time when rent in New York City has skyrocketed. Median rent in September in New York is a little over $3,700, which is 77 percent higher than the national median, according to real estate site Zillow, and has gone up by more than $200 from the same time last year.

There were fears by some New Yorkers that the assets could be sold to new owners that were more interested in squeezing profits out of the properties rather than maintaining their rent-controlled or rent-stabilized status, as reported by The City earlier this year.

In March, the New York Department of Financial Services shut Signature Bank down after its collapse in one of the largest bank failures in U.S. history and appointed FDIC as the receiver of the failed lender’s assets. Flagstar Bank, a subsidiary of New York Community Bank, took over the deposits and some assets of the former Signature Bank in a deal struck in March by the regulator.

The shift could help FDIC find buyers who might have been reluctant due to rent stabilization or rent control, according to The Real Deal, a real estate-focused news outlet.

But some analysts say the properties remain attractive, despite the high interest rates.

“Even in this environment, there are buyers of rent-stabilized buildings and lenders who make loans on them, because if the underlying properties are valued at cap rates near today’s interest rates, they would be very safe investments to own as a loan or as real estate in the case the loans are not performing,” Matt Pestronk, president and co-founder of Post Brothers, a real estate developer based in Philadelphia, Pennsylvania, told Reuters.

FDIC said the marketing for Signature Bank’s portfolio will occur over the next three months and the deals are expected to conclude by year’s end. The New York City-headquartered Newmark & Company Real Estate is advising on the sale.

Source: newsweek.com

Apache is functioning normally

October 1, 2023 by Brett Tams

Mobile homes may be more affordable than traditional homes, but purchasing one still often requires a loan. However, the types of mobile home loans offered by each lender may vary. Many companies offer personal loans for mobile homes, while others offer a mortgage loan option for those who qualify.

To help you find the best mobile home financing, we looked at some of the best mortgage lenders and researched their loan offerings. Whether you’re interested in the best home equity loans or loans for investment properties, we looked into the best lenders for each situation.

Our Top Picks for Best Mobile Home Loans

USDA: Best for rural areas
Vanderbilt Mortgage and Finance: Best for a variety of loan options
Manufactured Nationwide: Best for low credit scores
ManufacturedHome.Loan: Best for good credit scores
21st Mortgage Corporation: Best for mobile homes within a community or park
eLEND: Best for first-time buyers
Guild Mortgage: Best for protection packages
Caliber Home Loans: Best for veterans
PenFed Credit Union: Best for high personal loan limits
AmeriSave: Best for fast approval

Best Mobile Home Loans Reviews

100% financing with no down payment required
Low credit requirement

Income limits and geographic restrictions
USDA-guaranteed loans include a guarantee fee

Why we chose it: The United States Department of Agriculture (USDA) offers Section 502 direct and guaranteed loans and Section 504 home repair loans. Most USDA loans offer 100% financing, requiring no down payment, and are intended to help low- and moderate-income households afford a home purchase.

USDA loans are offered through many of the lenders on our top ten lists, but buyers can also apply through the USDA Rural Development Loan program. These loans can be used to purchase, build, repair, or refinance a primary residence, including a mobile home, and you can borrow 100% of the home’s value, so there is no down payment.

Most USDA loans do not come directly through the USDA, but rather through other lenders, and the USDA backs and guarantees them. Borrowers who apply through third-party lenders will be subject to a guarantee fee, which, similar to mortgage insurance, is generally rolled into the total amount of your loan. USDA loans have some eligibility requirements, including a credit score of 640, a willingness to repay the mortgage and United States citizenship or legal permanent residency.

HIGHLIGHTS

Loan term
30 year

Min. credit score
None

Types of loans
USDA

Max. loan amount
Varies

Lengthy loan terms
Fast approval
Variety of loan options

Down payment required
Limited information available without application

Why we chose it: Vanderbilt Mortgage and Finance (VMF) has been around for almost 50 years and is a Berkshire Hathaway company and a partner with Clayton Homes. We included this company on our list because of the many types of loans it offers as well as its long-term financing and fast approval. The partnership offers loans to borrowers in all 50 U.S. states.

VMF loans are available for mobile homes and manufactured homes. They can also be used for home improvement and to upgrade your home’s energy efficiency through the eScore program. The company offers traditional home loans, FHA-backed loans, variable loans and fixed-rate loans. The company has six types of loans in total:

Pre-owned financing
Home upgrade loans
Land and home mortgages
Fresh start home loans
Portfolio home loans
Biweekly advantage loans

Loan values start at $10,001.00, except in Kansas, where the minimum is $25,001.00. Repayment terms vary, and loans are usually funded within three days of closing. Borrowers also have five options for making monthly payments: money transfer service, money order or check, phone, automatic payment or online payment.

The downside to VMF loans is that a down payment is required, and the company’s website provides limited information about its products and doesn’t post a minimum credit score requirement.

HIGHLIGHTS

Loan term
Up to 30 years

Min. credit score
Not posted

Types of loans
Traditional, FHA, variable, fixed

Max. loan amount
Based on credit score

Loans to borrowers in all 50 U.S. states
Good for those with low to fair credit
No down payment in some cases

No loans for homes in mobile home parks or on rented land
Lengthy closing process

Why we chose it: Manufactured Nationwide is a suitable option for those with low credit scores because there are different credit requirements depending on the desired loan. Borrowers must have a minimum credit score of 620 for VA loans, 640 for manual underwriting and 660 for conventional FHA loans. Down payment requirements vary based on the loan, but in some cases, you don’t need to put any money down.

Owned by The Federal Savings Banks, a federally chartered, veteran-owned organization, Manufactured Nationwide made the list because of its extensive work with government-backed, low-down-payment programs. The company lends in all 50 U.S. states and offers FHA, VA and USDA loans.

Loan terms are set at 15, 20 or 30 years, and it also offers competitive fixed rates guaranteed by government-backed programs. One such program enables consumers to borrow up to $3 million.

Manufactured Nationwide does have a lengthy closing process and doesn’t offer loans for mobile homes on rented land or in parks unless approved by Fannie Mae.

HIGHLIGHTS

Loan term
15, 20 or 30 years

Min. credit score
580

Types of loans
FHA, VA and USDA

Max. loan amount
$3 million

Option to finance mobile homes as a vacation property
Option to finance homes located in mobile home parks
Special programs for first-time home buyers

Website is not user-friendly
Interest rates aren’t posted

Why we chose it: A licensed nationwide mortgage broker, ManufacturedHome.Loan works with eLEND to offer competitive terms to borrowers. Those with higher credit scores may be able to access lower interest rates because the company offers a variety of borrowing options through eLEND.

Even those with low credit scores can borrow through the company’s government-backed programs like FHA and VA loans, and the company offers special programs for first-time home buyers. Loan maximums, interest rates and down payment requirements vary based on credit score.

ManufacturedHome.Loan is unique because it will finance a mobile or vacation home that is situated on leased land. The company finances and refinances both new and used mobile home purchases.

ManufacturedHome.Loan also offers chattel loans for mobile or manufactured homes that are not affixed to the land. For existing homes, terms are set at 23 years, and for new homes, terms are set at 25 years.

ManufacturedHome.Loan doesn’t post interest rates, so you’ll need to speak to a representative or fill out an application to request more information. Compared to the other sites we studied, the company’s website is somewhat less user-friendly.

HIGHLIGHTS

Loan term
Varies

Min. credit score
Not posted

Types of loans
FHA, VA, construction, 30-year fixed, 15-year fixed, chattel

Max. loan amount
Varies based on credit and income

Good for those with low credit scores
Financing available for new or used mobile homes
Available in most U.S. states

No prequalification option
Lengthy closing process when purchasing land

Why we chose it: 21st Mortgage Corporation stands out as a company that will finance both new and used mobile and manufactured homes on leased land. Loans are available to borrowers in every U.S. state except Alaska, Hawaii, Massachusetts, and Rhode Island.

21st Mortgage Corporation doesn’t require a minimum credit score, and down payments on property range anywhere from zero to 35%. If your credit score is below 570, a 35% down payment is required. Fortunately, this down payment can come in the form of land equity, trade-in, cash or any combination of the three.

Borrowers must have a debt-to-income ratio below 43% to qualify without providing additional documentation or a co-signer. The company will lend up to $16,000 for a mobile home property purchased through a retailer and $25,000 for refinanced properties or those purchased from another individual.

Borrowers can apply online, and the process takes approximately four to six weeks for home-only loans. If land is included in the loan, the processing time may take six to eight weeks.

One drawback to 21st Mortgage Corporation is that it does not offer a prequalification option, so you may not know how much you are authorized to borrow until you’ve already applied.

HIGHLIGHTS

Loan term
Varies

Min. credit score
No minimum credit score

Types of loans
Manufactured and mobile home refinances and loans

Max. loan amount
Varies

Assistance with down payments
Lengthy loan terms
Education programs for first-time buyers

For a mobile home loan, you must own the land
Higher minimum credit score

Why we chose it: eLEND provides loans for new homes, first homes, multi-family homes, investment properties and vacation homes. It’s a good option for first-time borrowers because the down payment requirements are low and the company educates borrowers about loans. eLEND also offers down payment assistance for those who need it.

One of the drawbacks to eLEND is that it only offers mobile home loans in rural zones, as determined by the USDA. The minimum credit score required is 620, but those with a score of 660 or above are eligible for more programs. Down payments can range from zero to 3.5% for those who qualify. Loan terms may extend up to 30 years. To be approved for a mobile home loan from eLEND, you must own the land your mobile home is located on or take out a personal property loan to purchase it.

HIGHLIGHTS

Loan term
30 years

Min. credit score
620

Types of loans
Refinance, investment property, multi-family, vacation and mobile homes

Max. loan amount
Varies

E-closing options
Seamless application and submission process
Variety of loans for investments, second homes and primary residences

Not available in all U.S. states
No home equity lines of credit or loans

Why we chose it: We like Guild Mortgage for its e-closing options, seamless application and submission process, and wide variety of loans for homes and investment properties.

Guild Mortgage offers robust protection packages for borrowers. The Homebuyer Protection program includes Credit Approval Protection, which protects those who are unable to close with a lender, offering up to $5,000 in lost earnest money and $1,000 for certain expenses. It also includes the Homebuyer Express guarantee, which provides a 17-day closing guarantee or the borrower will be reimbursed $500 in closing costs and a Lock and Shop program that locks in your interest rate for 120 days.

Minimum credit score requirements vary based on the type of loan. For VA or USDA loans, you must have a credit score of at least 540. For conventional loans, your credit score must be at least 620, and for jumbo loans, it must be at least 680.

Guild Mortgage works with more than 500 down payment assistance programs to provide support to first-time homebuyers with little savings. The drawback is that it isn’t available in all 50 U.S. states and doesn’t offer home equity lines of credit or loans.

HIGHLIGHTS

Loan term
Varies

Min. credit score
540 (varies by type of loan)

Types of loans
USDA, FHA, VA and conventional

Max. loan amount
Varies

Personalized team for U.S. military members
Down payment assistance programs
Variety of loan options

Interest rates aren’t posted
No home equity loans or lines of credit

Why we chose it: Caliber Home Loans provides a wide range of resources for U.S. military borrowers, including assistance to those who are lacking sufficient funds to make a down payment. The company offers both conventional and government-backed loans with fixed and variable interest rates.

Caliber Home Loans has a special in-house team dedicated to helping members of the U.S. military and provides personalized customer service to those utilizing VA loans. The company has branches throughout the U.S. as well as a mobile app that keeps you updated during the borrowing process.

The drawbacks to Caliber Home Loans are that it doesn’t offer home equity loans or lines of credit and that its current interest rates are not posted on its website.

HIGHLIGHTS

Loan term
Varies

Min. credit score
620

Types of loans
USDA, VA, FHA, adjustable, fixed, jumbo, refinance and purchase

Max. loan amount
Varies

Available to any eligible borrower in the U.S.
Loans funded in as little as one week
Terms ranging from 12 to 60 months

Payments only reported to one major credit bureau
Must maintain a member savings account

Why we chose it: PenFed offers personal loans with a limit of up to $50,000, a high amount for those who choose to use this type of loan to finance a mobile home. It also has various types of loans available: FHA, jumbo, adjustable rate mortgage, conventional fixed, VA and Power Buyer loans. The credit union also provides a home equity line of credit, refinancing options and VA Interest Rate Reduction Refinance Loans.

The second largest credit union in the nation, PenFed was formerly only available to members of the U.S. military but is now open to any eligible borrower. In order to qualify for a loan, borrowers must also maintain a member savings account with PenFed.

Most of the personal loans offered by PenFed have terms of 12 to 60 months. If you qualify for a mortgage loan to finance a mobile home, no down payment is required. Flexible income and credit requirements make it easier for first-time homebuyers and those with no credit to qualify for a mobile home loan.

If you are looking to improve your credit, PenFed may not be the best option because it only reports payments to one major credit bureau.

HIGHLIGHTS

Loan term
Up to 30 years

Min. credit score
Lenient credit requirements

Types of loans
FHA, VA, jumbo, conventional fixed, adjustable rate and Power Buyer

Max. loan amount
Varies

Simple, user-friendly application process can be completed on your mobile device
Variety of loan products and types

No home equity loans
Not available in New York

Why we chose it: If you plan to finance your mobile home with a personal loan, AmeriSave offers approval in just minutes, zero origination fees, fixed rates and loans from $5,000 to $50,000. AmeriSave has a simple, user-friendly application process that can be completed from any mobile device.

AmeriSave offers some of the best mortgage refinance and purchase loans with adjustable and fixed rates. Government-backed loans like VA, USDA and FHA loans are also available in every U.S. state except New York. Cash-out refinances are available, but home equity loans are not.

HIGHLIGHTS

Loan term
Varies

Min. credit score
620

Types of loans
Fixed, adjustable, FHA, VA, USDA, purchase, refinance

Max. loan amount
Varies

Other companies we considered

New American Funding

Offers both adjustable and fixed-rate loans
Offers programs to assist Black and Latino borrowers

Must apply to see fees
Not available in Hawaii

Founded in 2003 and based in California, New American Funding offers home loan options to borrowers in all U.S. states except Hawaii. Borrowers can choose between adjustable and fixed-rate mortgages, and the company has programs to assist Black and Latino borrowers.

Why it didn’t make the cut: New American Funding doesn’t disclose its fees until after you’ve applied for a mortgage.

Rocket Mortgage

Offers a variety of types of loans
Entire process is completed online

No USDA loans or home equity loans
No in-person service option

Formerly known as Quicken Loans, Rocket Mortgage was founded in 1985 and is the largest mortgage lender in the U.S. Borrowers benefit from a completely digital experience and access to jumbo, fixed-rate mortgage, refinance, VA, FHA, ARM and conventional loans.

Why it didn’t make the cut: Rocket Mortgage doesn’t offer USDA loans or home equity loans. There is no option for in-person service, so borrowing is more challenging for those who prefer a personal touch.

Mobile Home Loans Guide

Main things to know before choosing a mobile home loan

The type of loan you need will largely depend on your income, credit score, the lender you choose and the amount you want to borrow. For some borrowers, a personal loan may be sufficient, while others may opt for a mortgage loan to finance a mobile home. In most cases, a mortgage loan is preferable to a personal loan because the loan amounts are higher, the repayment terms are longer and the credit requirements are more flexible.

Before applying for a mobile home loan, consider doing the following:

Check your credit score: If it’s less than 600, research ways to raise your credit score.

Save for a down payment: While some loans don’t require a down payment, many offer lower interest rates and better terms to those who put some money down.

Research loan types: Most lenders offer conventional loans, FHA loans, VA loans and USDA loans. Some even offer investment property loans and LLC loans.

What are the different types of mobile home loans?

In addition to personal loans, there are three primary types of mobile home loans:

Construction mortgage: Enables you to borrow specific amounts of money at different times if you purchase your mobile home and land separately

End mortgage loans: Provides financing for a residence that has already been built

Chattel mortgage: Used to finance a residence that doesn’t include land, such as those situated in a mobile home park or on leased land

Traditional mortgage loans include the following:

Adjustable-rate mortgages (ARM loans): Involves interest rates that fluctuate throughout the life of the loan

Conventional loans: Not backed by the government and available as both non-conforming (jumbo loans) and conforming (loans that meet the guidelines of Fannie Mae and Freddie Mac) loans

Jumbo loans: Ideal for borrowers with good credit who need a substantial loan

Government-insured loans: Ideal for those with low credit scores and no down payment; for example, FHA, VA and USDA loans

Fixed-rate mortgages: Determines a fixed, predictable monthly payment for the life of the loan based on the mortgage rates at the time the loan is originated

What are the requirements for a mobile home loan?

The requirements for a mobile home loan depend on the lender you choose. Most lenders offer loans to those with a credit score of 600 or above, and many offer 100% financing so you don’t have to provide a down payment. Some require collateral, which is property that is used to secure the loan.

How to get a loan for a mobile home?

The first step to securing a loan for a mobile home is to check your credit score and improve it as much as possible. Then save for a down payment and choose a lender that offers the flexibility and benefits you need. Finally, research the lender’s interest rates, loan terms, loan amounts and any other borrower qualifications.

Mobile Home Loans FAQs

What are the current interest rates for mobile home loans?

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The current interest rate for a mobile home loan is determined by the Federal Reserve interest rate, other economic factors and each lender’s policies. You can lower the rate by choosing shorter terms. The 10-year fixed rate on a mobile home will be lower than the 30-year fixed rate. A lower interest rate can lower your total cost.

Who qualifies for a mobile home loan?

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Those with a credit score of 580 or above and a debt-to-income ratio that matches the lender’s requirements can usually obtain a mobile home loan. In some cases, you must also provide evidence that you have a place to put your mobile home.

What are the maximum loan amounts for a mobile home?

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This depends largely on the type of loan you choose. Many personal loans have a maximum of $50,000, while mortgage loans have much higher limits. Maximum loan amounts depend on your income, down payment, credit score and the mobile home’s value.

What is the difference between mobile and manufactured home loans?

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The terms mobile home and manufactured home are often used interchangeably. However, when the U.S. Department of Housing and Urban Development updated its safety standards in 1976, it established a higher standard for manufactured homes. Structures built today are still sometimes called mobile homes but would more correctly be called manufactured homes.

The same types of loans are used for both mobile and manufactured homes. These include personal, chattel, VA, FHA and conventional loans.

How We Found the Best Mobile Home Loans

To find the best mobile home lenders, we studied a few crucial elements of each company:

Loan types and terms: We checked the loan limits, the repayment terms and the types of mortgage loans each lender offers.

Options for different types of borrowers: We researched the best loans for people in various situations, such as those with no cash for a down payment, those with low credit scores and those looking for the best mortgage refinance terms.

Financing for homes with or without land: We investigated banks that finance mobile homes on purchased land and others that finance homes situated in mobile home parks or on leased land.

Borrowers with low credit requirements: To help those with poor credit or no credit history, we also identified mortgage lenders willing to work with lower-than-average credit scores.

Summary of the Best Mobile Home Loans of 2023

USDA: Best for rural areas
Vanderbilt Mortgage and Finance: Best for a variety of loan options
Manufactured Nationwide: Best for low credit scores
ManufacturedHome.Loan: Best for good credit scores
21st Mortgage Corporation: Best for mobile homes within a community or park
eLEND: Best for first-time buyers
Guild Mortgage: Best for protection packages
Caliber Home Loans: Best for veterans
PenFed Credit Union: Best for high personal loan limits
AmeriSave: Best for fast approval

Source: money.com

Apache is functioning normally

September 30, 2023 by Brett Tams

With its tree-lined streets, historic architecture, and a warm, small-town atmosphere, La Plata exudes a timeless charm. This quaint town in Maryland has plenty to offer – including historic landmarks, a strong sense of community, and wonderful restaurants. Whether you just moved into a new home in La Plata or you’ve lived here for awhile, let’s explore some of the restaurants in La Plata that locals love.

#1: Marie’s Diner

Cuisine Type: Diner, American Restaurant
Location: 6325 Crain Hwy, La Plata, MD 20646
Website: Marie’s Diner

First on our list is the beloved Marie’s Diner. A charming American restaurant known for its classic diner atmosphere, Marie’s Diner offers a menu filled with delicious comfort food options. From juicy burgers to fluffy pancakes, you can find all your favorite American dishes here. Don’t forget to try their famous milkshakes for a sweet treat after your meal.

#2: The Charles

Cuisine Type: New American Restaurant
Location: 417 Charles St, La Plata, MD 20646
Website: The Charles

The Charles is a New American restaurant located in La Plata, MD. With a menu featuring a variety of dishes inspired by local and seasonal ingredients, guests can expect a unique dining experience. From their signature dishes like the Chesapeake Bay Crab Cakes to their creative cocktails, The Charles offers a delicious and innovative taste of American cuisine.

#3: Pizza Hotline

Cuisine Type: Pizzeria
Location: 203 Charles St, La Plata, MD 20646
Website: Pizza Hotline

Pizza Hotline is a popular pizzeria specializing in a variety of delicious pizzas, with a menu that includes classics like pepperoni and margherita, as well as specialty options. The restaurant offers a casual and welcoming atmosphere, making it a great spot for a quick bite.

#4: La Tolteca

Cuisine Type: Mexican Restaurant
Location: 6625 Crain Hwy, La Plata, MD 20646
Website: La Tolteca

La Tolteca is a delicious restaurant to visit in La Plata. A popular Mexican spot, this is a great place to catch up with friends over some chips and salsa, or indulge in tasty tacos and enchiladas with family.

#5: Benny’s Sub Shop

Cuisine Type: Chinese Restaurant
Location: 6505 Crain Hwy, La Plata, MD 20646
Website: Benny’s Sub Shop

Benny’s Sub Shop offers a unique twist on Chinese cuisine with their specialty sub sandwiches. In addition to traditional options, such as fried rice and lo mein, they also serve a variety of delicious sub options.

#6: Charles Street Bakery

Cuisine Type: Bakery
Location: 507 Charles St, La Plata, MD 20646
Website: Charles Street Bakery

Charles Street Bakery is a delightful bakery in La Plata that specializes in a variety of baked goods, including fresh bread, pastries, and cakes. With their warm and inviting atmosphere, it’s the perfect place to satisfy your sweet tooth or pick up a delicious treat for any occasion. Be sure to try their signature cupcakes and don’t miss out on their famous cinnamon rolls, which are a customer favorite.

#7: Hunan Star Chinese Restaurant

Cuisine Type: Chinese Restaurant, Sushi
Location: 6277 Crain Hwy, La Plata, MD 20646
Website: Hunan Star Chinese Restaurant

Another great restaurant in La Plata to check out is Hunan Star Chinese Restaurant is a popular eatery located in La Plata, MD. From classic Chinese cuisine to tasty sushi rolls, Hunan Star has something for everyone.

#8: B. Doughnut

Cuisine Type: Donut Shop
Location: 6700 Crain Hwy, La Plata, MD 20646
Website: B. Doughnut

Got a sweet tooth? B. Doughnut dishes out unique and delicious donuts that are freshly made every day. From classic glazed donuts to specialty flavors like maple bacon and cookies and cream, there are plenty of options.

#9: Bento Sushi

Cuisine Type: Sushi Restaurant
Location: 40 Shining Willow Way, La Plata, MD 20646
Website: Bento Sushi

A great spot in La Plata for sushi is Bento Sushi. Their menu includes classic rolls, sashimi, and nigiri. Don’t miss out on their specialty rolls, like the Dragon Roll or the Spicy Tuna Roll, which are always a hit among La Plata locals.

#10: Galazio Restaurant

Cuisine Type: Greek Restaurant
Location: 6223 Crain Hwy, La Plata, MD 20646
Website: Galazio Restaurant

At Galazio Restaurant, you can find a variety of traditional Greek dishes such as moussaka, spanakopita, and souvlaki. The restaurant has a cozy and welcoming atmosphere, perfect for enjoying a delicious meal with family and friends.

#11: Eastern Chinese Restaurant

Cuisine Type: Chinese Restaurant
Location: 6619 Crain Hwy, La Plata, MD 20646
Website: Eastern Chinese Restaurant

Eastern Chinese Restaurant is a popular Chinese restaurant in La Plata, MD. With a focus on traditional Chinese cuisine, they have an extensive menu offering something for everyone.

#12: Foster’s Grille

Cuisine Type: American Restaurant, Wings Joint
Location: 6390 Crain Hwy Ste 105, La Plata, MD 20646
Website: Foster’s Grille

Next up on our list of must-try restaurants in La Plata is Foster’s Grille. Their menu offers a variety of classic American dishes such as burgers, sandwiches, and salads. However, what sets Foster’s Grille apart is their deliciously crispy and flavorful chicken wings. With a casual and friendly atmosphere, it’s a great place to grab a bite and watch a game with family and friends.

#13: Texas Ribs & BBQ

Cuisine Type: BBQ Joint, American Restaurant
Location: 7415 Crain Hwy, La Plata, MD 20646
Website: Texas Ribs & BBQ

Indulge in the mouthwatering flavors of Texas-style ribs and BBQ at Texas Ribs & BBQ. You can expect to find classic BBQ dishes like tender ribs, pulled pork, and smoky brisket on their menu. The relaxed and rustic atmosphere adds to the charm of this local favorite.

Source: redfin.com

Apache is functioning normally

September 30, 2023 by Brett Tams

Imagine making $1,000 for every $100 you spend on real estate leads. Today’s guest, Joe Herrera of the Joe Taylor Group, does exactly that with a smart, simple Facebook advertising strategy. Listen and learn how to create viral property ads and how to consistently convert the leads that they generate. Plus, you’ll hear how to hold a team of Realtors accountable, what works best for buyer leads in 2023, and why you should not advertise a property’s price.

Listen to today’s show and learn:

About Joe Herrera [0:41]
Why Joe focuses on Facebook for real estate leads [4:43]
How to stop playing Zillow’s game [7:50]
An argument for not listing a property’s price [9:24]
Determining lead spend based on agents’ needs [12:55]
What to expect when you start running ads on Facebook [15:13]
How soon you’ll know whether or not a real estate ad is working [19:29]
How leads come in when running Facebook ads [21:34]
Why Zillow isn’t the right fit for Joe’s real estate business [24:49]
Focusing on the why instead of the what when working buyer leads [27:59]
Building the right relationship with potential clients [29:23]
What the 9-6-6 follow-up schedule looks like [31:50]
Joe’s coaching and lead-gen program for busy real estate agents [33:16]
Common conversion mistakes [36:45]
The difference between customer service and sales [39:51]
How to hold real estate agents accountable [41:40]
Joe’s real estate goals for the next few years [45:41]
The most relevant voice in real estate [49:16]

Joe Herrera

Joe Herrera is a multifaceted individual who seamlessly blends passion and responsibility into his various roles. As a keynote speaker, coach, mentor, lead generator, podcast host, and associate broker of Real Broker, Herrera’s enthusiasm for his work is contagious.

With more than a decade of experience as a lead conversion coach, Herrera has an impressive track record of generating more than 10,000 leads annually. His exceptional team, the Joe Taylor Group, closes an outstanding 1,000 units each year, expanding its presence to seven locations across North America. Notably, Herrera has graced the stage as a featured keynote speaker at prestigious real estate events across the U.S. and Mexico, sharing his expertise and insights.

In addition to his accomplishments in real estate industry, Herrera’s entrepreneurial spirit shines as he owns and operates several businesses specializing in investment and lead generation. His commitment to helping others extends further through his dedicated Velocity coaching business, where he pays it forward by guiding and supporting aspiring professionals.

As a Las Vegas area REALTOR®, Herrera understands the significance of buying or selling a home as a major life event for his clients. Beyond being a salesperson, he embraces his role as a trusted guide, providing unparalleled support and expertise throughout the process.

Outside of his professional pursuits, Herrera remains deeply connected to his community and family. He devotes his time to various acts of service, always ready to give back to those in need. An avid golfer, Herrera enjoys spending quality time with his kids, hitting the links at his favorite golf courses across the country.

Joe Herrera’s story is one of dedication, ambition, and genuine care for others – a testament to his remarkable character and the positive impact he brings to both the real estate industry and his community.

Related Links and Resources:

It might go without saying, but I’m going to say it anyway: We really value listeners like you. We’re constantly working to improve the show, so why not leave us a review? If you love the content and can’t stand the thought of missing the nuggets our Rockstar guests share every week, please subscribe; it’ll get you instant access to our latest episodes and is the best way to support your favorite real estate podcast. Have questions? Suggestions? Want to say hi? Shoot me a message via Twitter, Instagram, Facebook, or Email.

-Aaron Amuchastegui

Source: realestaterockstarsnetwork.com

Apache is functioning normally

September 30, 2023 by Brett Tams

This article is part of a series put together by the Total Mortgage marketing team that provides loan officers and other sales professionals with a crash course in marketing and self-promotion. To read other articles in this series, click here.

This article is designed to teach loan officers and other sales professionals how to properly maintain and boost their social media presence. It will hit all the key points such as connecting, managing multiple profiles, engaging with influencers, and what to post.

Want to jump ahead?

LinkedIn
- Connecting & Following
- Managing Multiple Profiles
- Properly Engaging with Influencers
- How and What to Post
Facebook
- Connecting & Following
- Managing Multiple Profiles
- Properly Engaging with Influencers
- How and What to Post
Twitter
- Connecting & Following
- Managing Multiple Profiles
- Properly Engaging with Influencer
- How and What to Post
Google +
- Connecting & following
- Managing Multiple Profiles
- Properly Engaging with Influencers
- How and What to Post

LinkedIn

How to Gain/Find Connections

When you first started setting up your LinkedIn account, you were prompted to import your contacts from your email address book. If you clicked yes, you probably already have a few dozen connections. However, once your profile is completed, you will need to search for those connections you didn’t have on your contact list, like loan officers you met at a conference or realtors you haven’t had a chance to work with yet. There are many different ways to go about finding and linking with connections on LinkedIn.

The first way is arguably the easiest way: using the Search box. It can be found on the top of any tab of the LinkedIn interface. There are also many “Advanced Search” options available if you click the “Advanced” text link right next to the search button.
You could also find connections from clicking onto your Profile, scrolling down to your experience and hovering over your business place icon and then clicking onto the icon or your company title, highlighted by the red arrow.

After clicking on your company’s icon, scroll down until you see the “How You’re Connected” on the right side of the screen. Click “See all.”

Now you have the opportunity to see coworkers and contacts who you’re not connected to.

Managing Multiple Profiles

LinkedIn is generally a place where you focus on one personal profile. However, if you run your own business, you will want to create a company page for it. If you need help creating a company page, check out my Social Media Basics post. If you only manage one page, then this section may not be that useful.

If you are on your profile page and you want to switch to your company page, you simply click on the small icon on the top right hand corner of your screen (where the arrow is shown) then on “Company Page.”

This will lead you to this screen.

You’ll now be able manage, change, analyze, and update your company page. If you want to switch back to your profile page, just click on the home tab or profile tab.

Engaging with Influencers

Connecting with influencers—that is, the people who are active, established, and popular in your industry—is a great way to widen your reach. Of course, engaging with influencers on LinkedIn is not something you should do blindly. It takes strategy and time to do correctly.

Do Not:

Do not connect with an influencer without ever interacting with them
Do not like, comment, or share everything they post
Do not post more than 3 times per day

Do:

Do connect if you had previous relations
Do connect if you are connected on other networks
Do connect if you have exchanged emails or contact info

How and What to Post on LinkedIn

Posting on LinkedIn is very straight forward. LinkedIn allows you to share updates, publish a post, upload a photo, share in groups, and post job opportunities. You can access these options in the home tab, except for sharing in groups and posting job opportunities.

Sharing in a Group

Sharing in a group could be a great way to get your content to a broader audience. Joining groups on LinkedIn is very easy. First, click on the “Interests” tab and then click on “Groups” If you are already a member of a group it will appear under the “My Groups” section. If you aren’t a member of any groups, just click on the “Discover” tab and LinkedIn will provide recommendations for groups to join. You have the option to select “not interested,” “ask to join,” or you can ignore and continue to scroll.

Once you ask to join a group, your request must get approved by an admin, which can take a day or two depending on how busy they are. After you’re accepted, you can view what the others in the group are posting. To get started, click on “Start a conversation with your group.” The box will expand and you get the options listed below. At this screen, type in your title and a brief description with a link to the real content. Follow the same process for posting a job opportunity in a group.

If you run a LinkedIn business page, then you have the option of posting a job ad through the “Business Services” tab. Once you hover over “Business Services,” click on “Post a Job” to get to this screen.

After you fill out the appropriate information and click “Start job post,” LinkedIn will walk you through a series of prompts, where you will fill out information like job function, company industry, and job description. Once that’s done, review everything and click submit.

What to Post:

Career status updates
News and events
Articles shared by your connections
Your own articles

What not to Post:

Quotes
Updates trying to sell services/items
Material you deem not appropriate for the workplace

Facebook:

How to Gain Followers:

With more than 1.65 billion monthly active users, Facebook has the potential to connect you to people across the globe. If you’re using Facebook for business purposes, you need to understand how to properly navigate it to connect with others.

There are multiple strategies to take. For example, you can create a personal account, a business page, or both. If you’re in an industry where you need to keep things professional (like, for instance, the mortgage and financial industry), then I recommend creating a business page so you can separate your professional life from your personal life. You have to mindful of whom you invite to like your page, but we’ll touch on that topic a little later.

If you’re completely new to Facebook, prepare to spend some time connecting with people you know. You can manually add friends by clicking in the search box at the top of the screen and typing the name of the person you are trying to find. Eventually Facebook will tailor a carousel of “People You May Know,” which will allow you to click “Add Friend.” Thankfully, Facebook has implemented a few tricks to make it easier to add friends in bulk.

Go to the Friends Request page then to the “Add Personal Contacts,” enter your email and click find friends.

After you enter your email it will take you through to a similar screen. Click “Agree,” then follow the on-screen instructions.

On the Go

You can also import contacts from your mobile device.

Tap
Hit “Find Friends” in the Apps section
Tap “Contacts,” then follow the on-screen instructions

Connecting to Others Via Your Business Page

Click on the triangle in the top right corner of your home page.

Click on the drop down menu and select your business page.

Click on the […] on your cover photo and then click on “Invite Friends.”

Search all friends: click the invite box next to your friends’ names to invite them to like your page—or type their names in the search box.

Managing Multiple Profiles

Facebook does a fantastic job of making it easy to manage as many pages as you want. Their interface organizes your pages so you can easily switch through and manage every single of one of them. Every time you create a new page, Facebook allows you to add that page into your “Favorites” section. I highly recommend doing this, because it keeps all of your pages in easy reach, which you can see in the image below.

You can also switch between pages by clicking the drop-down triangle on the upper right corner of your home page. In that menu, you’ll find a list of three of your pages. Shown below:

If you manage more than 3 pages—like we do here at Total Mortgage—you can just click on “See More…” and it will give you a list of all the Facebook pages that you manage. To switch back to your personal page, you simply just need to hit the “Home” button and it will take you back to your feed.

Properly Engaging with Influencers

Recently, Facebook has changed how you interact with other people or businesses when you’re on your business page. Once, you were able to be on your business profile, click on “Home” and interact with people and businesses that follow your business page. However, that is essentially nonexistent today. Now you really need to be creative if you want to engage with influencers in your community.

To Like a Different Page as Your Business Profile

Go to the page you want to like and click on the […]

Click “Like As Your Page.” Then this screen will pop up and you choose the business account that you want your like to come from. Click “Save.”

Tagging other influencers in your Facebook posts is simple if you know the name of their business page. A lot of influencers have both personal and professional profiles, however, so make sure you know which one you’d like to connect with.

Unfortunately, you can’t tag a personal account from your business profile. If you want to tag a professional account from your business page, you craft your post, then add the appropriate tag at the end. You always want to convey that you got the content from a source and you are using it credibly.

In the picture below, you see that I have crafted a draft of my message and tagged the source I got it from with the tag “via @[name].” Instead of via you could use from, by, thanks to, etc. When possible, try to use a link shortener such as Buffer or Hootsuite to keep things looking tidy.

Once you get the proper etiquette down for interacting with influencers, now it’s time to engage with them. Like I mentioned above, you can like other pages as your page. You are able to do the same for posts. You do that by going to the page you want to like something on and scrolling to the post that you want to interact with. Before you like the post or comment, make sure you switch from your profile to your business profile. You do this by:

1. Clicking on the downwards arrow next to your small Facebook default icon

2. Click on the account you want to like and comment as.

You are now liking and commenting as your business account. This is the best way you can engage with your influencers. There are 3 important things you must always remember to do and don’t do before you start engaging with influencers.

Do Not:

Do not like/comment on everything that they post
Do not ask for a favor like sharing a post right away
Do not reach out to them right away

Do:

Gradually interact with them by liking their page and commenting on a few posts/pictures 1-3 times a week
Share some of their posts 1-2 times a week
Always remember to thank them for sharing information that you find important

Here’s where you use your gut. Once you think you’ve earned yourself a spot on the influencer’s radar, the next step is to reach out personally. This can be done in an open forum through commenting, or it can be done through private message. The eventual goal is to take the conversation “offline” through either phone or email so you can begin building an even more personal relationship.

How and What to Post on Facebook

Posting and sharing on Facebook is very easy. If you have a personal Facebook, you already know the drill. If this is your first time on Facebook or you don’t know how to post to your business page, then keep reading.

Posting on Your Personal Page

Bring your mouse to the top tab and click on your name
Click on the box where it says:

3. Click on the kind of post you want to craft: status, photo/video, or life event. Finish typing it with the appropriate tags (if needed) and click post.

Posting on your Business Page

Make your way over to your business page
Click on the box where it says “status, photo/video, or life event” and create the post you want to send out
When you are finished, click “Publish”

What to Post on Facebook

There are two types of content that you should post on Facebook. The difference depends on what account you plan to post with. For both profiles, you should post content that really resonates with your audience and makes people see you as a credible source (i.e. if you’re a loan officer, try content based around changes in the industry or tips on how to make the mortgage process easier).

Content like this positions you as an authority and encourages your audience to consider using your services if they are shopping for a home or refinancing. Every once in a while, it’s okay to throw in a shameless plug, whether you’re asking for referrals or encouraging people to use your services. Your personal page can have all the other updates—photos of your family, your dog, things you’re passionate about, etc. It is ok to post some business topics on your personal page, but make sure to do so sparingly. Your personal page is meant for personal things.

Twitter:

How to Gain Followers

Twitter is a great place to gain followers based on things that you find interesting. You can use the search box to find other professionals and people in your industry by looking for relevant hashtags, like #realestate.

Top Tips for Gaining Followers

Try finding your connections from other places like Facebook and LinkedIn on Twitter
Follow users who follow your followers
Follow the accounts recommended by Twitter
Join a Twitter chat

Managing Multiple Profiles

Unfortunately, Twitter doesn’t have an interface within itself to switch profiles easily—unless you are on your mobile device or want to use multiple web browsers. However, there are certain tricks, tips and hacks you can use to make managing multiple profiles easier.

Toggling Profiles in the Twitter App for iOS

From the “Me“ tab, tap the people icon
Tap “More options.”
From here you can “Create new account” or “Add an existing account.”
Once you’ve added your additional account, you can toggle between accounts by tapping the people icon.

Toggling Profiles in the Twitter App for Android:

Tap the overflow icon
Tap “Accounts.”
From here you can “Create new account” or “Add existing account.”
Once you’ve added your additional account, you can toggle between accounts by tapping the overflow icon, then tapping “Accounts.”

If you’re uninterested in downloading the Twitter app for your mobile device, there are other options. If you manage more than one profile you can easily manage multiple accounts if you use a tool like Tweetdeck, Buffer, or Hootsuite. All of these applications have free versions, so you don’t have to worry about spending money.

These apps make it easy to manage countless amounts of accounts. My personal favorite of the three is Buffer, because the interface is very easy to use and it provides multiple tabs to check out how your account is doing in terms of analytics. It also has a built-in link shortener that automatically shrinks your links when you are adding them to a post. Shown below is a screenshot of my Buffer interface.

Engaging with Influencers

Engaging with influencers on Twitter is a great way to kick-start your influencer marketing strategy. This is where Twitter search comes in handy; you can use it to find the people who tweet regularly in your industry regularly. If you want to stay organized, I recommend creating a spreadsheet that has a list of your influencers, their names, follower count, and what stage of your relationship you’re in. Once you’ve found a handful of them, it’s time to start engaging.

Do not:

Tweet, retweet, or like everything that they tweet
Try to directly reach out to them—it comes off creepy
Follow them on other networks without establishing a relationship with them

Do:

Occasionally tweet, retweet, or like their posts to get on their radar
Appreciate their content by tweeting it out to your audience (and making sure your attribute the author)
Once you established a relationship, make it easy for them to tweet about your service by crafting an email with a few sample tweets that they could send out about your services. Make sure you convey the message that you are willing to reciprocate the favor

How and What to Post:

Posting on Twitter is very simple. If you are on the web browser version of Twitter the tweet box is one of the first things that you see. You can find it by looking for the “What’s happening?” text.

To compose a tweet you just click on this box and type the content you want to share.

Posting a Tweet on a Mobile Device

Tap the compose Tweet icon accessible from your Home timeline, the Notifications tab, or your profile (usually located on the upper right hand of your screen.)
Start typing where it says “What’s happening?”
If you’d like to Tweet an image, tap the camera icon
Tap “Tweet” to post.

What to Post

Just like any other platform, choosing what to post comes down to a few key factors.

Who your audience is
What kind of message are you trying to portray
What kind of content will resonate with that audience

Make sure you don’t forget to utilize the power of hashtags on Twitter. To see how a hashtag is performing simply search the hashtag in the search box before you post the tweet or check it out on Tagboard.

You want to have the appropriate amount of hashtags to text ratio. Most marketers recommend using no more than 3 hashtags per tweet. However, if your tweet only contains 3 words, don’t hashtag them all. Finding the perfect mix of creativity and content is surely a challenge but once you find your niche you will be good to go.

Google Plus

Google+ is one of the most underrated social media platforms, but it could be a great asset to your strategy if used properly.

How to Gain Followers

Make Your Profile Look Good

I know, it sounds obvious, but a lot of people just use the default graphics that Google supplies. Make sure your profile looks good and is customized so you reach people in your niche.

Follow other Google Plus People

Just like other social platforms, you’ll need to work for your followers. You do this by following as many people as possible. There are multiple ways of doing this. If you are looking for people to connect with , search for something relevant to your industry like, for example, “Real Estate.” A list like below will pop up and you will be able to decide who what you want to follow, whether it be collections, communities, people & pages, or if you just want to view posts.

You can also follow people manually:

Click the People Icon on the left side of the screen
You should see a “Find People” option. Click on that
Go through the list of people and see who you want to add
You can add them to just your follower base or you can add them to relevant circles, such as “Realtors”

Join Communities

If you’re looking for the fast track way of getting your name in front of dozens, even hundreds of people at once, then you’re looking for communities. When you join a community, you are part of a much larger group of people who are interested in a certain topic. This is how you engage the right kind of followers.

Utilize Hashtags

With Google Plus know you can search content by words, phrases, and hashtags. Even though hashtags are more popular on Twitter, they work the same way on Google+.

Let’s say you hashtag a word or phrase in your post, i.e. #RealEstate. Thanks to that hashtag, your post enters a stream with hundreds of other posts with that same hashtag. Meaning, anyone watching that stream or looking for specific information centered on that topic will easily find your post.

Add a Google+ Badge to Your Website

If you have your own website, it’s a sin in 2016 to not have visible social widgets. These are clickable icons that take you right to your social media pages. They take the hassle out of finding your social pages, making it easier to gain followers.

Managing Multiple Profiles

Managing multiple profiles on Google+ is very simple if you add all your accounts to one email address. Once you associate all your different profiles to that one email address it becomes very easy to switch back and forth between the different profiles from the Google+ interface. Don’t forget—you can always use a social media management tool like Buffer to switch profiles simultaneously.

Switching Profiles:

Click the icon on the upper right hand corner (Note: Your icon will be different from ours)

Once you click on that icon it will release a drop down menu of all the other profiles you have connected to your account

Now you are free to switch through whichever profile you deem necessary

Properly Engaging with Influencers

Engaging with influencers is a lot like engaging with influencers on any other platform—you need a strategy and you need to find the right influencers.

Do not:

Plus one (+1) everything they share
Try to directly reach out to them–it comes off creepy
Follow them on other networks without establishing a relationship with them

Do:

Occasionally +1, comment, and share their posts
Appreciate their content by sharing it in your communities
Share some of their posts 1-2 times a week
Thank them for sharing information that you find important

How and What to Post

Posting on Google+ seems a lot more complicated than it really is. Just keep in mind that you can post publicly, in a community, or in a group. To post you simply go to the page, community or group you want to post to.

Click on the pencil icon on the bottom right hand corner

Which will bring you to this screen

Here you type in the text of the message you want to draft in the ‘What’s new with you?’ section. If you are adding a link, click on the. If you want to add a picture (recommended) click on the camera icon. You can also add your location by clicking on the location pin.

What to Post

Just like any other network, you need to find your niche before posting blindly. Finding content that really resonates with your audience is half the battle. Like I said previously, try testing a few types of content to see what works best.

Don’t be afraid to use content with a lot of pictures like infographics. The more pictures the better. A very good post is a combination of clever content, great pictures and captive CTA’s (call to actions.) Once you find this balance roll with it and optimize your Google+ account to its full potential.

Thinking About Your Next Steps?

All of these social media platforms are great for connecting and getting your content out there. Each platform is a little different from the next, so don’t try to implement the same strategy throughout all of them. Finding your groove might take some time, but keep working towards it and tweaking your strategy to see what gives you the best results. Once you hit that sweet spot, roll with it.

You can learn more about what the Total Mortgage marketing team does for our loan officers by checking out other articles in this series, or by visiting our career portal.

Carter Wessman

Carter Wessman is originally from the charming town of Norfolk, Massachusetts. When he isn’t busy writing about mortgage related topics, you can find him playing table tennis, or jamming on his bass guitar.

Source: totalmortgage.com

Apache is functioning normally

September 30, 2023 by Brett Tams

Appraisers have not yet caught on to it either.

By Wolf Richter for WOLF STREET.

Homebuilders don’t have the luxury of outwaiting the market, or waiting for the Fed to slash rates, or whatever, they must build and sell homes, that’s their business, no matter what the conditions in the market.

And the market is struggling with 7%-plus 30-year fixed mortgage rates and sky-high prices, after a ridiculous free-money spike during the pandemic. Sales of existing homes have plunged by about 25% from the same period in 2018 and 2019, and by about 32% from the same period in 2021, because buyers have pulled back, and the people with 3% mortgages have left the housing market altogether, not putting their homes on the market and not buying homes either, not even looking at homes.

That plunge in sales might be OK with potential home sellers, thinking that this too shall pass, but it’s not OK with homebuilders, and they’ve been adjusting to this market by cutting prices, building at lower price points, buying down mortgage rates, and offering incentives, such as free upgrades.

The latter two – buying down mortgage rates and piling on incentives – don’t show up in the prices of the homes they sell. So the pricing data that we have from the Census Bureau about sales of new single-family houses do not include the costs of mortgage-rate buydowns and incentives.

With mortgage rate buydowns, the homebuilder subsidizes the mortgage payment.

The duration of the buydown can be for a few years, which effectively turns it into a teaser rate that can cause problems when the rate jumps to normal.

Or the rate-buydown can be for the entire term of the mortgage (“permanent”).

The big homebuilders have mortgage-lender subsidiaries that originate the mortgage for their customers and then sell the mortgage to Government Sponsored Enterprises, such as Fannie Mae, which will securitize the mortgages into MBS. For example, the mortgage-lender subsidiary of D.R. Horton is DHI Mortgage Company.

Having their own mortgage lender makes rate buydowns a lot simpler for homebuilders. This is similar to the “captive” auto lenders, such as Ford Credit offering 0% 36-month financing for F-150 XLTs at the moment.

The costs of the mortgage-rate buy-downs can be big, because the home prices are big, and buydowns effectively lower the sales price of the home.

But the costs of buydowns don’t show up in the national median price of new houses sold. The numbers only show the contract prices. July’s median price (green) and the three-month-moving average of the median price (red) of signed contracts dropped by roughly 12% from the peak in late 2022, according to Census Bureau data. Now figure in the cost of rate buydowns, and the prices would have dropped a lot lower:

Concerning the mortgage-rate buydowns, John Burns Research and Consulting, which among other things regularly surveys homebuilders, came out with an interesting note about mortgage-rate buydowns by homebuilders in Florida, based on its regular surveys of homebuilders, phone calls, community visits, etc., plus this time, to supplement the data: “our survey team visited 13 home builders, three land brokers, and a regional developer in Jacksonville and Orlando.”

John Burns chose Jacksonville and Orlando because they’re “more rate sensitive than other Florida markets that attract a higher percentage of retirees who pay all cash and don’t need rate buydowns.”

In a prior note, John Burns said that 5.5% seems to be the “magic number” that makes home sales happen for homebuilders. This is what the survey found:

“Permanent buydown: Buying the 30-year fixed mortgage rate down permanently to 5.25% to 5.75% is making a positive difference in allowing home buyers to qualify for the home purchase.”

“Sub 5%: Builders will even buy the current rate down to 4.75% to 4.99% for inventory homes they want to sell quickly.

“Prepaying for even lower rates: Using a forward commitment, a builder’s mortgage company can originate FHA (Federal Housing Administration) or conforming mortgages at a below-market rate. Often, these buckets of money must be used within 60–90 days, so they work best when builders have nearly completed inventory.

“Temporary buydowns: A couple of Florida builders are using 2-1 temporary rate buydowns (a mortgage rate that is -2% lower in year one and -1% lower in year two) as part of a flex-cash program, allowing buyers to spend the dollars on closing costs, design center options, or a longer rate buydown. A move-up builder sees buyers accepting current elevated rates and planning to refinance when rates drop.

“Managing cancelation risk: One builder requires a 20% down payment from buyers receiving a 30-year rate buydown.

“Good to be big: Smaller production builders may struggle to compete for sales due to limited access or high costs of capital that curb their ability to provide inventory homes and rate buydowns.”

What about profit margins and appraisal issues?

“Builders did not express concerns regarding their margins, even though 30-year rate buydowns are expensive,” John Burns said.

“We have not heard of appraisal issues that could potentially stem from the heavy incentives offered but are monitoring for potential risk,” John Burns said.

And they’re hidden from the national house price data.

In the auto industry, rate buydowns are in lieu of cash incentives, such as rebates or dealer cash, and the customer chooses: either 0% financing or the cash incentives. The cash incentives translate into an explicit lower selling price that the customer sees in the sales contract and that then becomes part of the national data, such as the Average Transaction Price, new vehicle CPI, etc., and ultimately it percolates through to used vehicle values.

John Burns did not say, and I’m not aware of a similar pricing transparency among homebuilders where customers could choose, for example: on a $500,000 house, either a 5% 30-year fixed rate mortgage or, say a $50,000 discount on a deal funded with a 7.3% mortgage.

But the effective price difference due to the rate-buydown doesn’t show up in the numbers. And we don’t know just how far the effective prices of new houses have dropped; and appraisers – according to John Burns – have not yet caught on to it either.

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Source: wolfstreet.com

Apache is functioning normally

September 30, 2023 by Brett Tams

The high cost of housing is driving Southern California’s biggest challenges. Income is not keeping pace with housing costs. It hasn’t for at least two generations, and the problem of unaffordable shelter shows few signs of letting up.

There’s a metric called “housing burden” that lays the situation bare. Over the last 50 years, it tracks the growing, gaping mismatch between income and shelter costs in Los Angeles County.

In 1979, UCLA land experts Leo Grebler and Frank Mittelbach wrote: “As a general, time-honored rule of thumb” house prices in a community “should not exceed 2 to 2½ times the annual income” of its residents.

Within a decade, home prices began to drastically violate this rule. If it were applied today, it would mean a four-person household with the median Los Angeles County income of $98,200 could afford to buy a house that cost $245,500. However, the median home price in the county last month, according to Redfin, was $980,000.

How did things get so unbalanced?

In the 1950s and 1960s, buying a single-family home in Los Angeles was an attainable prospect. The GI Bill and the Federal Housing Authority helped with loans and mortgage dollars (albeit primarily for white families). And home building was on a tear, thanks to the region’s pro-development political climate.

By the 1970s, however, a cascade of factors — local to global — changed the equation.

Housing prices first shot ahead of income in the mid-1970s. Analysts attributed the spike to the first cohort of baby boomers reaching home-buying age, which expanded the pool of buyers and created a seller’s market. The 1973 oil crisis and ensuing inflation pushed buyers to pay up for fear prices would rise even higher. Unrelenting demand thus not only kept pace with prices, it increased them.

Social-demographic factors also factored in. Per capita income doubled from 1966 to 1977, due in part to more women in the workplace. When federal policies struck down gender discrimination in loan and credit decisions, two-income families could qualify for larger mortgage loans, elevating the demand for higher-priced homes.

Then land and building costs climbed, pushing prices even higher. And in 1978, Proposition 13 became law.

The ballot measure slashed property taxes and with them, funding for municipal services. Cities and towns scrambled to recoup the lost revenue. New real estate developments were “money-losers,” as urban planner and former Ventura Mayor William Fulton observed, because property taxes fell so low. Instead, municipalities turned to retail development to generate lucrative sales tax revenue. Prop. 13 thus became a powerful disincentive to build housing.

The rising slow-growth movement put another damper on housing supply. It was pushed by homeowners who resisted adding multifamily housing in single-family neighborhoods or new development in nearby open space.

One study by the California Legislative Analyst’s Office found that by the early 2000s, more than two-thirds of cities and counties in coastal California metro areas had slow-growth policies in place, and that when a community added such a policy, it resulted in a 3% to 5% increase in home prices. Moreover, the historical momentum of R-1 (single family) zoning stymied the construction of multifamily units.

The upshot of all these pressures? From 1980 to 2010 in Los Angeles, the population grew by 31.3% while housing units grew by only 20.6%.

L.A.’s spiraling housing costs paralleled trends in large, global metro regions by the turn of the 21st century, suggesting that forces beyond L.A. were also at work. In the 1990s and early 2000s, the housing bubble was driven by finance structures linked to global markets, inflows of global capital and unregulated banking practices that set off unrestrained and predatory lending and buying frenzies. Even after the 2007-09 banking crisis and Great Recession, home prices in L.A. soon regained traction.

Taking a longer view, economist Robert Shiller traced rising housing costs in the late 1980s and early 2000s across metro areas globally, including L.A. He pinned a good deal of the blame on “irrational exuberance” that motivated uncontrolled buying. The psychological draw of metro areas such as Paris, London, Sydney and L.A. reinforced the belief that land prices would continue to go up and up. Media fed these perceptions. And housing bubbles blew up.

Looking at the housing burden graph, the price surge since 2020 is truly eye-popping. Urban analyst Richard Florida attributes it to pandemic-driven demands for more housing space especially among millennials, a massive shortage of housing overall and, perhaps most disturbingly, the growing competition from large institutional investors who’ve been snapping up homes and apartments in recent years. In 2021, they bought 29% of all single-family homes in California and, with their ability to outbid other buyers, they drive up prices.

Over the last 50 years, L.A.’s housing burden has evolved from challenging to simply unsustainable. The consequences are all around us, in skyrocketing rents, a ubiquitous homelessness crisis, housing overcrowding, rising commuting times to drive-till-you-qualify exurbs, population flows out of California and intensified wealth inequality.

Solutions must come from both the housing and the income side.

Increasing the housing supply is crucial. It must be accompanied by policies that protect individual buyers from corporate competitors, ensure the ongoing production of affordable housing, and guard against gentrification.

Even more importantly, wages and salaries must climb considerably to make housing affordable again. The major employers in our region — from the movie studios to hotels to hospitals and logistics firms — must take a long, hard look at the housing burden graph and see in it their own role in widening the gap. The Writers Guild and actors’ strikes, the Unite Here Local 11 hospitality industry strike and the strike vote last week by Kaiser Permanente healthcare workers speak directly to L.A.’s housing burden.

The struggle to match income to cost of shelter is an inescapable fact of L.A. life that demands swift, conscientious redress.

Becky Nicolaides is a research affiliate at the Huntington-USC Institute on California and the West, and author of “The New Suburbia: How Diversity Remade Suburban Life in Los Angeles After 1945,” forthcoming from Oxford University Press. The data set collected for the book, a granular look at demographics from 1950 to 2010, will be published online by the USC libraries next year.

Source: latimes.com

Apache is functioning normally

September 30, 2023 by Brett Tams

Are you quickly approaching the limit of your unemployment benefits? We’ve created a quick guide here to help walk you through your next steps. In this article, we’ll show you how to create a financial action plan, and then we’ll guide you through the latest extension to unemployment benefits. Finally, we’ll explain a few government-sponsored programs, some of which could help you make ends meet.

What Does It Mean to Exhaust Your Benefits?

Individual states manage and regulate their own unemployment benefits policies and requirements. On average, these benefits last for 26 weeks or about 6 months.

When you apply for unemployment benefits, caseworkers review your case and approve or disapprove benefits. If approved, a maximum amount is set for the value of benefits you can receive while you’re approved for benefits. Once your benefit payouts reach this maximum amount, you’ve exhausted your benefits.

What to Do If Your Benefits Are Exhausted

Once the unemployment office notifies you that your benefits are exhausted, you won’t receive any more payments after the designated date. This doesn’t mean you don’t have other options. Depending on your state regulations, you may be able to reapply for unemployment benefits.

If you receive a letter stating your benefits are ending or your renewal application for benefits has been denied, you have the right to file an appeal and try to overturn this decision. Instructions for how the unemployment benefits appeals process works in your state should come with your letter. Typically, you must submit a detailed letter explaining why you believe your benefits should be reinstated.

While you are waiting for the appeals process, consider applying the following steps. Think of them as a backup plan if the appeals process doesn’t go the way you want:

1. Create a Financial Action Plan

Before you do anything else, create an emergency financial action plan. You might not be able to overhaul your finances completely—but you can stem the flow of money to some degree. You might be able to shave a few dollars off your expenses every month, or temporarily stop making mortgage or loan payments. Here are a few ideas to get you started:

If you feel frustrated or helpless between jobs, create a daily schedule to motivate yourself—and stay as physically and mentally active as you can.

2. Apply for Government Assistance Programs

If your unemployment benefits run out, there are numerous other government assistance programs that may provide financial aid. Below is a look at several of these programs. In many cases, you can check your eligibility or even apply for these benefits online.

WIC

The Women, Infants, and Children, or WIC, program is a federal nutrition program that provides healthy foods to women who are pregnant or breastfeeding and children under the age of 5. The program gives eligible participants coupons they can exchange at the grocery store for specific food items, such as milk, cheese, and cereal.

SNAP

The Supplemental Nutrition Assistance Program, or SNAP, provides low-income families with financial support to purchase food. To be eligible, you must meet specific income guidelines and resource limits. This support can help cover a portion of your grocery budget until you can secure a job.

Medicaid

If you don’t currently have health insurance, you may want to see if you qualify for Medicaid. This health insurance program helps income-eligible adults and children obtain health insurance. While Medicaid is a federal government program, each state sets its own eligibility guidelines. If you’re currently not working or working limited hours, you may qualify for Medicaid.

CHIP

If you don’t qualify for Medicaid, you may still be able to obtain health insurance for your children under the Children’s Health Insurance Program, or CHIP. In some states, pregnant women may also qualify for CHIP. There are no waiting periods or open enrollments with CHIP insurance. Instead, you can apply for this insurance at any time throughout the year.

If you’re aged 62 or older, you may qualify for Social Security retirement payments. You should talk directly to a representative at your local Social Security office to find out how much you can earn a month on Social Security if you retire right now. Keep in mind that the longer you wait to start collecting Social Security, the higher your monthly payments may be.

If you have a medical condition that prevents you from working and is expected to last longer than 1 year, you may qualify for Social Security disability, or SSID, payments. The application and approval process can take 6 months or more, so it’s recommended to apply for these benefits as soon as possible if you believe you qualify.

SSI

If you or one of your dependent children has a medical condition that prevents or limits you from working but you’re low-income or don’t have enough work credits to qualify for SSDI, you may qualify for Supplemental Security Income, or SSI. If eligible, you can receive monthly payments and typically qualify for Medicaid automatically.

State and Community Benefits

Depending on where you live, there may also be a number of state and community programs that can provide extra support until you can find a job. For example, many local communities have food pantries and soup kitchens that may be able to provide you with supplemental food options. Some states also offer reduced or free internet and mobile phone services to low-income families. Your local public assistance office or county government offices should provide a list of services for you.

Grants, Scholarships and Loans

If you decide to use your time off to acquire new skills through a training or college program, you may be eligible for various grants, scholarships, and student loans. In some cases, the combination of these programs can cover your cost of living while you’re in school.

Housing Choice Voucher Program (Section 8)

Losing a job can make it difficult to keep up with your rent payments and put you at a higher risk for eviction. To help low-income families maintain secure housing, many states have a Housing Choice Voucher Program, also referred to as Section 8. If you qualify, this program can cover a portion or all of your rent to ensure you don’t lose your housing. Many areas have a waiting list for this program, so it’s recommended to apply for these benefits as early as possible.

3. Look into Self-Employment Assistance Programs

If you’re self-employed, you might be eligible for PUA and PEUC. Other programs, including grants and loans administered by the Self-Employment Assistance Program (SEA), are also available. Reach out to your nearest Secretary of State office to learn about state-centric programs for self-employed people and small business owners.

4. Consider Freelance or Part-Time Work

If you’re currently unemployed and finding it tough to get another job, you could consider part-time or freelance work—or you could start your own small business. Here are a few ideas to get you started:

You might find a permanent full-time job again soon, but why not use this time to study, or to try something completely new? To learn new skills at home, check out Coursera, and create a ZipRecruiter profile to keep looking for employment online.

5. Reach Out for Help

If you’ve gone through all the suggestions listed above and nothing feels doable, reach out for help. Resources like United Way 2-1-1 can help you find ways to pay for food, housing, medical, and financial expenses. Local charities, churches, and community organizations might also be able to help.

What Are Extended Benefits?

Extended benefits are extra benefits the government offers in emergency situations. For example, when the pandemic hit, many states offered extended benefits to deal with the high unemployment levels.

Will Unemployment Benefits Be Extended Again?

While pandemic-related extensions are now over, that doesn’t mean an end to unemployment benefits extensions. If unemployment rates are particularly high in a specific region of the country, the government may decide to offer extended benefits. If these extended benefits are in place, it allows you to receive benefits for a longer period.

Can I Get an Extension on Unemployment Benefits If I Have Exhausted My Benefits?

If your unemployment benefits have been exhausted, you may qualify for extended unemployment benefits if they’re available in your area. To apply for these benefits, you must complete the application. In many states, this application is online. If your area isn’t currently offering extended benefits, you can reapply for unemployment benefits to see if you qualify. If you think your benefits ended too soon, you can always appeal the decision.

Source: credit.com