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In the U.S., apartments are getting smaller and smaller, meaning you might need to downsize your new home. On average, studio rentals are about 530 square feet. Efficiency apartments sit on the smaller side of this spectrum.

Shrinking apartments are likely the result of rising costs per square foot for rentals, but we’re learning to adjust. Many now look for smaller apartments on purpose, ready to give up having a separate bedroom for the benefits of living a little smaller.

While many begin their petite apartment hunt looking for a studio, it’s best to not discount an efficiency apartment. Efficiencies are like studios, but not exactly the same. However, they may be the perfect choice for your budget. Here’s what you need to know about renting an efficiency.

What is an efficiency apartment?

An efficiency apartment consists of only two separate spaces. Efficiencies combine all your traditional living spaces, except for the bathroom, into one room. Your bedroom, living room and kitchen won’t have built-in partitions.

The only doors in an efficiency apartment are the one leading into your bathroom and the one going out of the unit completely. There are many benefits of an efficiency apartment:

Tiny but mighty

Yes, they’re small and compact, but they don’t have to lack luxury. For too long, people associated small apartment size with a living space that felt cheap or poorly maintained. Actually, efficiency apartments vary in quality like any other apartment size.

It’s more about how much you pay in rent that determines how nice a place is, not the number of square feet. In some cases, you can even get more amenities by renting an efficiency in a nicer building instead of a larger apartment somewhere else.

Easy to clean

Another perk of the size of an efficiency is how easy it is to clean. With minimal square footage and only one bathroom, you can have your apartment sparkling in no time. A pack of disinfectant wipes and a broom may even be enough to do the trick, allowing you to keep valuable storage space open for things other than cleaning supplies.

Budget-friendly

Efficiency apartments are also your most budget-friendly option, in more ways than one. They’ll cost you less, on average, in rent than any other sized apartment, but that’s not all.

Having a smaller apartment means lower utility bills. You’ll have fewer rooms to light, heat and cool. Living alone means you’ll use less water, too. On average, the price of utilities in an efficiency is between $100-$150 per month. You could pay that much heating a one-bedroom apartment in the dead of winter alone, not to mention the cost of your other utilities.

Living in an efficiency apartment can allow you to cut a little bit from all your monthly bills. This can add up to some significant savings over the course of a year.

Going solo

Because of the size and layout of an efficiency apartment, you’ll most likely be living alone. There’s really no way to accommodate a roommate. You could share with a significant other, but understand that you’ll have no personal space.

Efficiencies might even feel too cramped to share with a pet. When looking for an efficiency, it’s best to fly solo.

What do efficiency apartments look like?

While the specifics will vary, efficiency apartments look like one big room and a bathroom. The kitchen is often along a wall, galley-style to stay out of the way. You may or may not get a closet, but it’s up to you to create natural divisions in the space with your interior design.

Source: Rent./Post Centennial Park

Living with a kitchenette

In addition to cramming everything but the bathroom into a single room, you may lose a little when it comes to your kitchen. Efficiency apartments may have a kitchenette, instead. By definition, this is a smaller version of a kitchen.

You may not get a full-sized fridge, and don’t expect a dishwasher. With limited space, you can lose a few appliances common in bigger apartments. However, hand-washing dishes for one isn’t a big job, and portable dishwashers do exist.

What’s the difference between a studio and an efficiency?

There’s really not a square footage difference between a studio and an efficiency apartment. It’s all about the layout when differentiating. You’ll know right when you walk into a prospective apartment whether it’s a studio or not.

“Whether you prefer to call it a studio or efficiency apartment,” writes Devon Thorsby from U.S. News & World Report, “stay focused on the specifics of the space as you shop for apartments to ensure your definition of the word matches up with the leasing agent’s.”

Even if your definitions don’t agree, if you find everything but the bathroom in a single room, you’re in an efficiency. Studios have more separation. You might not have doors on everything, but you’ll see a natural division in spaces. Your kitchen won’t be in your living room. You may even have a nook to serve as a bedroom.

Where can I find an efficiency apartment?

You’ll find efficiencies primarily in cities where apartments tend to be smaller. New York and San Francisco are prime examples, but availability isn’t limited to those densely populated spots.

If you value location over size, an efficiency apartment in your ideal part of town is a worthy tradeoff. Why move into a large apartment in an outlying neighborhood if you don’t have to? You can spare yourself a long commute, and the sense of feeling distanced from where all the action is, by cutting back on your square footage requirements.

Efficiency listings should pop up in apartment buildings all over, whether you’re looking downtown or in the suburbs. Look for newer construction if you’re having trouble finding units for rent.

Find efficiency apartments today!

Apartment complexes everywhere are acknowledging the benefits of efficiency apartments. Not only are they smaller so more fit into a single building, but they’re attractive to renters looking for affordable options. See if there are any available units where you live.

Lesly Gregory has over 15 years of marketing experience, ranging from community management to blogging to creating marketing collateral for a variety of industries. A graduate of Boston University, Lesly holds a B.S. in Journalism. She currently lives in Atlanta with her husband, two young children, three cats and assorted fish.

Source: rent.com

Apache is functioning normally

Here’s everything you’ll need to know about how to rent a house, including how it’s different from apartment renting.

Maybe you have a growing family or elderly parents moving in. Perhaps you need a dedicated office or you’re craving outdoor space and more privacy than most apartment complexes offer.

If you can’t afford to buy your own home, you can upgrade your living arrangements by renting one. Still wondering how to accomplish this milestone, though? We’ll walk you through it step by step.

How renting a home is different than renting an apartment

While the renting process may be similar, there are large differences that any prospective tenants should be aware of, so their renting process runs smoothly. Navigating the local market is tricky enough, turn to this guide to delve into the must-knows for your home renting experience.

1. Your rent price will look drastically different

Before beginning your hunt for the perfect rental home, you’ll need to figure out what you can afford. Factoring in your income and recurring expenses including any loan payments, check out our helpful tool that will calculate average rents and the cost of living in major cities. You’ll notice upfront, that renting a house may be pricier, due to numerous reasons.

In addition to the monthly rent you’ll be forking over, there are other costs to consider that you may not have had to deal with as an apartment dweller. For example, things like heat, hot water, electricity, internet and satellite TV that are sometimes covered with an apartment rental will likely come straight out of your pocket when you rent a house.

Also, you might be responsible for lawn care, snow removal and other general maintenance, so if you don’t want to take care of those yourself, plan to budget for hiring out those tasks.

You’ll also need to know your credit score to see if you have to get a co-signer or guarantor — someone with good credit who would be liable for your rent if you can’t pay it. This will be added to your lease agreement should this be the case.

2. Your wants and needs will be more extensive

Once you’re clear on your budget, the fun part of researching houses for rent begins. It’s best to start by narrowing down your search to a few choice neighborhoods that offer the amenities you’re looking for, including proximity to work or your children’s schools. Due to the nature of a home (which lacks the built-in amenities an apartment has) your wants and needs for your ideal rental property will be longer.

It’s helpful to make a list of wants vs. needs to help you sort through your thoughts on your dream rental properties:

  • If you or your family are active or love nature, is the area close to parks and recreation centers?
  • Do you want a bustling neighborhood packed with restaurants, cafés and boutiques, or would you prefer a quiet, suburban environment?
  • Is a backyard important to you?
  • Do you need a garage or dedicated parking space?
  • Are you looking for a detached home to rent or are you okay with a townhouse?
  • Does the neighborhood have easy access to public transportation?

3. You’re sure to attend more tours and have more questions

Reading rental listings and taking a good look at the photos is typically not enough to determine whether a rental house might work for you.

While apartment complexes might post floor plans and room sizes online, you might not have advanced information like that with homes for rent. This means you’ll need to ask the landlord, property manager or rental property owner about many things that may not be explicitly listed:

  • Is the home pet-friendly?
  • Are appliances included, or would you need to purchase your own?
  • Is the house furnished? If it is, can you decide what stays or goes?
  • Are laundry hook-ups in place?
  • If utilities are not included in the monthly rent, how much can you expect to pay for heat, electricity and hot water?
  • Can you make decorative changes, such as painting the walls or changing light fixtures?
  • If there’s a backyard, can you plant a garden?
  • Is there a home owners association to which you will owe monthly fees?

4. Your neighborhood will be more important than ever

If you like the looks of a house for rent, and the landlord has answered questions to your satisfaction, make sure you also tour the area to get a sense of whether it would be a good fit for you and your family.

Try to speak to some potential neighbors, too: Ask them if it’s safe to walk the streets at night, whether it’s noisy and whether there are other children on the block.

It’s a good idea to visit the street both during the day and in the evening if possible. If the rental home does not have a garage or dedicated parking spot, check out whether street parking is readily available. It’s important to confirm that the right rent price takes into account the neighborhood and what it has to offer potential tenants.

5. There’s additional paperwork, like a home rental application

Paperwork for renting an apartment is a given, however, there tends to be a bit more when it comes to renting a home. Keep in mind, if the property is in a popular neighborhood in a hot real estate market, you won’t want to waste any before time letting the landlord know you’re ready to begin the application process.

Some property managers will charge you a fee between $25 to $100 before opening a file. Supply the following information to help the landlord determine if you are a good candidate to rent the house:

  • Your personal contact information
  • Proof of income. If you work full-time, pay stubs are sufficient. If you are self-employed, you can present bank statements or tax returns from the past three years. Retirees can provide proof of pension, 401(k) or bank statements.
  • Your guarantor’s name and contact information, if applicable
  • References who can vouch for your reliability and trustworthiness, such as a supervisor or former landlord

6. More rules you’ll have to adhere to

If your rental home has an HOA, you’ll need to check in with them to see if there are any regulations to follow on moving day, such as not leaving empty boxes at the curb when moving. There will likely also be regulations ranging from decorating to construction restrictions that the homeowner, in this case the landlord, will have to adhere to.

The similarities between renting an apartment and a house

There are some steps and parts of the renting process that don’t change even though the type of rental property does. There are similarities beyond the obvious of needing to pay rent and adhering to rental laws.

1. The background check

Landlords want tenants who have a steady income, a good loan repayment track record and a history of paying rent on time. Often, they will conduct a background check to assess whether they want to rent you their house.

During this part of the process, a property manager will likely want to confirm your employment, speak to the references you provided and check your credit report to see how you managed past payments.

2. The required fees such as a security deposit and first month’s rent

Some landlords will require a security deposit equivalent to a month’s rent, which would cover any damage to the property you might cause during the term of the lease. In some cases, you can either be refunded this fee when the lease is up or it goes to the last month’s rent.

You might also have to pay the first month’s rent once you sign a lease, even if you’re not moving in for a while. Sometimes, you’ll be charged a deposit for keys if you require more than one.

3. The moving process

While you won’t have to reserve an elevator to move into your rental home the way you did when you lived in an apartment, there are some things you need to organize before the big move.

For example, before you book a professional moving company, find out from the landlord if you can reserve a parking spot in front of the house where the truck can park, or whether it can back onto part of the property for easier unloading.

Once that’s done, you can concentrate on packing up and getting ready to move into your new home. Don’t forget to advise utility companies, internet and television providers and anyone else who needs to know you’re moving elsewhere.

Make sure to stay on top of details

Taking the time to research rental homes and neighborhoods and asking the right questions will make the transition from apartment living to a home rental go more smoothly.

Being organized with your paperwork and task list for moving day will provide peace of mind and fewer last-minute glitches so that you can celebrate once you’re settled into your new rental home.

And if you’re thinking about renting out your home for some passive income-generating opportunities, take a look at our rent estimator to see how much you could be earning.

Wesley is a Charlotte-based writer with a degree in Mass Communication from the University of South Carolina. Her background includes 6 years in non-profit communication and 4 years in editorial writing. She’s passionate about traveling, volunteering, cooking and drinking her morning iced coffee. When she’s not writing, you can find her relaxing with family or exploring Charlotte with her friends.

Source: rent.com

Apache is functioning normally

Apache is functioning normally

DALY CITY — Prospective Bay Area home buyers are in a tough spot as mortgage rates hit a two-decade high, leaving some prospective home buyers re-evaluating their dreams.

Margarita Pabón is a single mother living in Daly City. She talked to CBS News Bay Area about the concerns she’s facing in her quest to own a home.

“My big dream is to buy a house, but unfortunately, opportunities are becoming increasingly limited,” Pabón said.

Having lived in her Daly City apartment for nearly 17 years since relocating from Nicaragua, Pabón’s desire is to purchase a home in the same neighborhood where her son attends school. However, surging mortgage rates have made this dream nearly unattainable. The rates hit an astounding 8% this week, a figure not seen since 2000.

Margarita’s realtor, Maria Jandres, describes the current situation as a nightmare for first-time homebuyers.

“In 2021, the record low-interest rate was 2.65%. But now the rates have increased to 7.9%, which is incredibly high,” said Jandres. 

With the market becoming increasingly complicated and mortgage rates soaring, Pabón and Jandres are working together to navigate these challenges on a modest income. Jandres encourages clients to explore creative solutions.

“I’m working hard to empower them and tell them that maybe they can also work as a family, gather their incomes together, and create a budget they can afford,” Jandres added.

Putting the situation into perspective, Jandres explained that a buyer purchasing a $400,000 home with a 20% down payment would face a monthly payment nearly $1,000 higher than it would have been just two years ago.

However, in the Bay Area, the cheapest homes are priced at least $900,000. Consequently, Pabón — along with her son and their loyal dog Toby — continues to reside in their current apartment, holding onto a fading dream.

“Every day, the dream becomes more impossible to achieve,” she said, echoing a sentiment held by many Bay Area residents.

Source: cbsnews.com

Apache is functioning normally

Apache is functioning normally

The U.S. Department of Justice (DOJ) announced this week that it has secured $107 million in judgments and enforcement actions against banks and mortgage lenders to combat the practice of lenders’ avoidance of providing credit services to people living or seeking to live in communities of color because of race, color or national origin, otherwise known as “redlining.”

A part of the $107 million total includes a $9 million settlement with Ameris Bank regarding allegations that it had engaged in redlining in predominantly Black and Hispanic neighborhoods in the Jacksonville, Fla. area, which is currently pending court approval.

“As today’s case makes clear, redlining is not just a relic of the past,” said U.S. Attorney General Merrick Garland. “That is why, two years ago this month, the Justice Department launched our Combating Redlining Initiative, and once today’s settlement is approved, that Initiative will have secured more than $100 million for communities across the country that have been harmed by discriminatory lending practices.”

Garland further detailed the settlement and alleged violations of Ameris in public remarks on Thursday, saying that the DOJ complaint “alleges that the bank located its branches in specific areas of Jacksonville to serve majority-white neighborhoods and to avoid serving Black and Hispanic neighborhoods,” Garland said.

“This included failing to open even a single branch in a majority-Black and Hispanic neighborhood in Jacksonville, despite having opened 18 full-service branches in other parts of Jacksonville,” he explained.

Garland added that the initiative’s work “is just the beginning – the Justice Department currently has over two dozen active investigations into redlining, spanning neighborhoods across the country.”

The DOJ launched its Combating Redlining initiative in October 2021, alongside the Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB). The agencies pledged to “address fair lending concerns on a broader geographic scale than the DOJ has ever before,” Garland said at the time.

The DOJ also detailed that it would draw on its partnership with the CFPB, as well as with financial regulatory agencies, including the OCC.

With the latest settlement included, Garland added that the DOJ has secured a total of 10 settlements since the launch of the initiative two years ago.

“In each of these cases, we reached resolutions that involved lenders making significant financial investments to remedy their alleged discrimination,” Garland said. “In addition to monetary restitution, our redlining settlements also require lenders to adopt meaningful changes to their business practices to promote fair lending.”

For its part, Ameris said that the settlement does not mean that the bank agrees with the allegations levied by the DOJ.

“We strongly disagree with any suggestion that we have engaged in discriminatory conduct and are confident in our efforts to provide equal access to affordable mortgage products in the Jacksonville community and all the markets we serve,” said Palmer Proctor, CEO of Ameris.

Proctor added that Ameris “cooperated fully with the Department’s inquiry and have entered into this settlement to avoid the distraction of litigation and because we share the Department’s goal of expanding access to homeownership in underserved areas.”

Garland ended his public remarks on Thursday by reiterating the DOJ’s position and forward-looking posture.

“Redlining is unlawful; it is harmful; and it is wrong,” he said. “Lending discrimination has no place in our country. The Justice Department will continue to combat the redlining that harms families and neighborhoods for generations. And we will continue to pursue justice on their behalf.”

Source: housingwire.com

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Whether you’re selling your home to begin a new adventure or refinancing your existing home, getting an appraisal with the value you want is an important hurdle to clear. You may feel that the appraisal process is out of your control, but there are many easy and inexpensive ways to get both yourself and your home ready.

We put together a checklist of our top tips below. But first, let’s quickly cover the basics of home appraisals.

What Is a Home Appraisal and Why Is It Important?

A home appraisal is an unbiased report on the value of your home performed by a trained and state-licensed individual. Appraisals are an essential part of the home financing process, ensuring the homebuyer, seller and mortgage lender each have an impartial, consistent and accurate assessment of the value of the property under consideration.

The lender is responsible for ensuring that your home provides adequate collateral for the mortgage. For most loans, the lender obtains a signed and completed appraisal report that accurately reflects the market value, condition and marketability of the property.

It’s the appraiser’s job to provide a factual, unbiased and detailed description of the property and the neighborhood. They must take into account all factors that influence a home’s value when developing the market value opinion in the appraisal report.

Home Appraisal Cost

While home appraisal costs can vary by state and property size, the fee can range between $300 and $1,200. Most fall somewhere around $600-$1,000, with costs based primarily on the geographical area of the home.

How Long Does a Home Appraisal Take?

From start to finish, the home appraisal process usually takes approximately 7-10 days to complete.

The required in-person visit by a home appraiser can take over an hour, depending on the size of your home. However, several other steps are involved in making an unbiased and professional assessment of your home’s value. Your appraiser will research trends, local county records and recently closed comparable homes in your area, known in the industry as “comps.”

Once your appraiser compiles and analyzes all the information and data, they will present a final report of your home’s value.

What Do Home Appraisers Look For?

A home appraiser uses several sources of information to determine a property’s value. As part of the assessment, the appraiser will visit the property in person and review recently completed sales of comparable homes. Common factors examined during home appraisals include:

Property size. In real estate appraisals, size significantly affects the final number. In general, the higher the square footage of a home, the higher its value. An appraiser will also look at the kitchen, number of bedrooms, bathrooms and closets.

Exterior condition. When assigning a value to your property, the appraiser will consider not only the exterior appearance of your home but also its condition. They will check the following:

  • The condition of the roof, foundation, siding, gutters, chimney and walls, looking for signs of leaks, mold and other safety hazards
  • Lot size, including front and backyard square footage
  • Pool, outdoor kitchen, deck, porch and other amenities

Interior condition. Again, this refers not only to the appearance of the interior but also to the working condition of standard household assets such as:

  • Plumbing
  • Electrical and HVAC systems
  • Doors and windows
  • Light fixtures
  • Any kitchen appliances to be included in the sale

Attic, basement and foundation. A finished basement or attic may impact a home’s value, but these areas must meet specific requirements to be considered part of the Gross Living Area (GLA). An appraiser will also evaluate your home’s foundation and its condition.

Home improvements and renovations. Tell your appraiser about any work or upgrades you have done to spruce up your home. This can include anything from the central air system you installed 10 years ago to the kitchen flooring and countertops you just renovated (along with the new oven and fridge to match, of course).

What Hurts a Home Appraisal?

If an appraisal is in your future, it’s essential to understand the factors that could negatively impact it, such as the following:

  • Low-value comps and decreasing neighborhood property values
  • Poorly maintained interior or exterior
  • Age of the home
  • Location, such as a flood zone or busy road
  • Signs of mold, insect infestation, leaks or other safety concerns
  • Issues with the home’s systems, such as plumbing, electric or HVAC
  • Lack of parking
  • Hazardous construction materials like lead paint or asbestos tile
  • Outdated or faulty plumbing, electrical and heating systems

Some issues are in your control and some may not be. Whether you choose to address the correctable concerns or not, being aware of crucial appraisal criteria can help you avoid the potential unwelcome surprise of a lower-than-expected home value.

Top 7 Tips Home Appraisal Checklist

How does one best prepare for a home appraisal? We put together a checklist of common (and not-so-common) tips to help you get a high valuation from your appraiser.

1. Do Your Own Appraisal

Imagine that you are the appraiser. Walk around your home’s interior and exterior and really scrutinize it as if you were going to complete the appraisal report yourself. Take note of any obvious damage or deferred maintenance that needs your attention. Leaks, broken systems and damaged surfaces should all go on your list of things to repair.

Thoroughly inspect safety equipment like smoke alarms, carbon monoxide alarms and home security systems. Are they all functioning, or do parts or entire systems need to be replaced? Make a plan to repair these issues and clean up any cosmetic issues that may have occurred as a result.

2. Investigate Comps

Check out recent home sales in your neighborhood. What has the price range been for homes with features and updates similar to yours? The values of these comparable homes should be similar to what your home will appraise for. This information can help you know where to focus your time, efforts and funds.

If you know a neighbor (or real estate agent) who recently sold a home in your area, contact them to find out if there were any appraisal issues or insights that they can share.

If you’re working with a real estate agent, you can request that they collect some comps for you and your appraiser to review. Particularly if your home has unique or uncommon features, your agent may need to get creative while staying within the guidelines for selecting comps.

A quick way to get a rough idea of how much your home is worth is to use a home value estimator calculator. Add some basic information to gauge your home’s current value and view recent home sales in your area.

3. Get Superficial

Clean your house from top to bottom and remove extra clutter. Once you’ve scrubbed and straightened up everything possible, consider making some easy, low-cost cosmetic updates that can have a big impact, like the following:

  • Paint or touch up existing paint
  • Hang updated window treatments
  • Replace worn faucets, doorknobs and cabinet hardware

If you’ve been planning to update your decor after you move, consider bringing in a few of the newer pieces to make the old house look fresh and modern. Downsizing or packing for a long-distance move? Ask your real estate agent if they have staging furnishings you can borrow or recommendations for a service you can use.

4. Make Your Outdoor Areas Truly Great

Now that your home’s interior looks fantastic, it’s time to pay attention to the exterior. Make sure that your landscaping is looking its best by doing the following:

  • Mow your lawn, trim your trees and bushes
  • Remove weeds and dead vegetation
  • Add color with inexpensive, seasonal flowers in the spring, summer or fall, and ensure that snow removal is neat and tidy in the winter

You’ll also want to:

  • Remove outdoor clutter, like yard tools and stray toys, from everywhere on the property
  • Consider staging any outdoor living spaces with new furniture or accessories
  • Power wash your home’s exterior, as well as your driveway and any deck or patio surfaces
  • Ensure your pool is well-maintained and in safe operating condition

Most of this can be accomplished in a weekend, and the increased curb appeal will be worth it.

Check out expert tips for outdoor home renovations — you may find just the right improvement to increase your value!

5. Be Sure To Share Your Upgrades

Tell your home appraiser about the improvements you’ve made to your home. Inform them of upgrades like the following that will positively impact your appraisal value:

  • New features that you have added, like a security system
  • Updated HVAC units
  • Exterior improvements like siding, gutters or a new roof
  • High-value room remodels like kitchens and bathrooms

An easy way to make sure that your appraiser remembers all of these improvements is to create and share a short, one-page list detailing each. You should have this list ready in advance and include any applicable permit information.

6. Know Your Neighborhood

Make your appraiser aware of any recent improvements in your overall neighborhood. It’s worth mentioning things like:

  • New or highly rated schools
  • Parks
  • Transportation enhancements
  • Shopping
  • Other beneficial amenities

These kinds of changes can add significant value to your home, and if your appraiser is not a local resident, they may not be aware of them. Appraisers are often familiar with the general area, but you probably know your specific neighborhood better than they do.

7. Stay Focused

While you are working your way through the tasks and updates listed above, it’s important to remember not to go overboard and take on too many projects. Invest your time, money and effort only on issues that clearly need attention. If you’re getting an appraisal for a home you’re selling, you most likely already have a buyer who liked your home enough in its current state to make an offer on it. Making unnecessary major changes could end up being a waste of your time and resources.

Your home’s selling price is affected by much more than just the appraisal! Find out how the time of year can increase your sale price.

Although it’s not possible to change your bungalow into a country estate overnight, taking the time to tackle a few strategic projects before your appraisal can help put you in a better position to get the outcome you want. If you’re ready to move or refinance the home you love living in, get a custom mortgage rate quote from Pennymac today. Our Loan Experts can answer your questions and help guide you through the mortgage loan process.

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Source: pennymac.com

Apache is functioning normally

Apache is functioning normally

You may think that because you have bad credit, buying a house is out of reach for you. But, there are plenty of trustworthy mortgage lenders with good offers willing to loan to people with poor credit.

So, you might just have to start packing sooner than you thought.

Best Mortgage Lenders for People with Bad Credit

LendingTree

For flexible mortgage options with less stringent credit score requirements, check out LendingTree. Instead of serving as a direct lender, LendingTree aggregates multiple mortgage offers after you fill out a single application.

The process is completed entirely online, and you could potentially see up to five different offers from various mortgage lenders. From there, you can compare the interest rates and terms to see if any fit your needs.

LendingTree also offers mortgages from lenders that provide a broad range of home loan types.

In addition to conventional loans, you can also access loans from the Federal Housing Administration (FHA loans) and VA loans. These come with lower credit requirements and lower down payment requirements.

With an FHA loan, for example, you could qualify with a minimum credit score of just 580 and a 3.5% minimum down payment on your new home’s purchase price. Even if your credit score is lower than 580, an FHA loan is still possible if you increase your down payment to 10%.

For multiple home loan options with a quick and easy application process, be sure to consider applying through LendingTree.

Read our full review of LendingTree

CitiMortgage

CitiMortgage has a range of home loan products for people with various credit scores. A unique feature of CitiMortgage is that they consider nontraditional credit situations, such as paying rent and child support on time.

They only approve loans for houses in good condition. This means all construction must be finished, and the roof and windows must be intact.

So, no fixer-uppers, HGTV fans. In addition, there is a $100 application fee and an origination fee, but this is not unusual.

If you can’t put much of a down payment down, CitiMortgage offers what they call a HomeRun loan program. This program allows you to only pay 3% down. Plus, they don’t even require you to pay for private mortgage insurance.

So, a $200,000 house would only require you to put $6,000 down. Applicants must make 80% or less than the neighborhood’s average income. However, it’s available to anyone in low-income areas.

CitiMortgage also offers a conventional loan geared toward those with low income and low credit scores. It comes with no mortgage insurance requirements and highly competitive interest rates. However, origination fees are typically a bit higher.

Read our full review of CitiMortgage

Rocket Mortgage

For those seeking a user-friendly online experience alongside a variety of loan options, Rocket Mortgage is worth considering. As one of the pioneers in the digital mortgage industry, their process is streamlined, allowing you to get pre-qualified in mere minutes.

They offer an array of loan types including Conventional, FHA, VA, and Jumbo loans. Terms range from 8 to 30 years, which includes popular 15-year and 30-year terms.

Those with a credit score of 620 will find themselves comfortably eligible, but Rocket Mortgage also caters to those with scores as low as 580, as long as other criteria are met.

One of the highlights of Rocket Mortgage is their flexibility in property types. Whether you’re looking to buy or refinance a single-family home, a second home, an investment property, or even a condo, they’ve got you covered.

Their user-centric approach is further exemplified by their dedicated Rocket Mortgage app, ensuring easy access to your account.

A potential downside is the hard inquiry they conduct to offer a personalized interest rate, which could have a minor impact on your credit score.

Additionally, they do not provide USDA loans, HELOCs, construction loans, or mortgages for mobile homes. For those eyeing jumbo loans, it’s worth noting that Rocket Mortgage does not manage these accounts post-closure.

However, if a swift online process coupled with diverse loan options appeals to you, Rocket Mortgage stands out as an excellent choice.

Read our full review of Rocket Mortgage

Navy Federal Credit Union

Serving military members and their families, Navy Federal Credit Union makes first-time home buyers their number one priority.

They help would-be homeowners by offering a wide variety of loans. Some of their loans include:

  • Adjustable-rate mortgages
  • VA Loans
  • FHA Loans
  • Interest-only loans
  • 30-year and 15-year fixed-rate loans

Their standout loan is the HomeBuyers Choice. It’s a fixed interest rate 15 or 30-year loan with 100% financing and no mortgage insurance.

There is a 1.75% funding fee that you can get waived if you’re willing to pay a higher interest rate. This is a great option at closing if you need to save some cash.

Like CitiMortgage, Navy Federal evaluates a range of payments for borrowers with poor credit scores, such as rent, cell phone, and utility payments. There is no minimum credit score requirement for VA loans, but it’s 620 for others.

The only real downside is that some borrowers report that it takes longer to close on houses than other mortgage lenders.

This is not incompetency by any means. On the contrary, with such popular mortgage options, they likely have more volume to get through than other lenders.

Read our full review of Navy Federal Credit Union

Best Refinance Lender for Borrowers with Bad Credit

For borrowers with bad credit scores who are considering refinancing their mortgages, we recommend Connexus.

Connexus

By no means just a refinancing company, Connexus is an all-around great credit union with nothing but positive feedback online. With a super strong and user-intuitive web presence, they’re easily one of the trailblazers for next-generation banking.

Connexus offers great mortgage interest rates for anyone, but they do something a little special regarding refinancing. Any homeowner can go to their website and fill out an online form detailing what they currently have.

After only two business days, a loan officer from Connexus Credit Union will call you to discuss every option available. They call this their “No-hassle mortgage comparison.”

If you’re worried about low credit scores, Connexus also considers alternative methods to determine your ability to repay a loan. This includes utility bills, rent, monthly cell phone payments, and child support.

Read our full review of Connexus

Best Mortgage Lenders for Customer Support

Decent customer support seems to be what companies struggle with the most these days. People want 24/7 support, but they don’t want to speak with robots. Two companies that have figured out how to meet customer expectations are HomeBridge and Network Capital.

HomeBridge

At HomeBridge, you can initiate your mortgage application online, where they have various home loan programs to choose from.

You can also learn about the pros and cons of each loan and refinance option through their extensive library of educational content.

Where they really receive their accolades, however, is through their customer support. It’s not something they really boast about, but they are constantly tweaking the process of getting a loan or refinance more user-friendly.

Here’s how.

Any negative feedback a customer provides is addressed as soon as possible by HomeBridge so that every customer can walk away happy. Look for this kind of dedication elsewhere, and you’re going to have a tough time.

Most companies who perform customer feedback questionnaires analyze the results and ask themselves how to resolve the problem moving forward.

HomeBridge not only resolves the problem moving forward but will actually go back to the initial complaint and address that specific issue, too.

Read our full review of HomeBridge

Network Capital

Be advised: Network Capital does have its faults. For example, it only does business in the following states:

  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Delaware
  • Florida
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maryland
  • Minnesota
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Tennessee
  • Texas
  • Virginia
  • Washington
  • Washington, D.C.
  • Wisconsin

It also doesn’t have an online prequalification tool. So if you’re interested, you’ve got to go through the whole process to see if this mortgage lender is even interested in working with you.

Even with these complaints, we still love Network Capital. Why? They’re doing many things right.

For starters, they don’t charge any lender fees.

Secondly, they offer support to you while you’re applying and want you to call and ask questions. Even if it’s just for a small question that will take them three seconds to answer, they want you to call.

Tri Nguyen, the founder, believes that no matter how digital we become, everyone wants to hear a human’s voice during such a significant life decision. So, they are there to answer questions and help you gather documentation.

And they do this all before they even know if they want your business. But don’t worry: the minimum credit score they require is only 600.

Read our full review of Network Capital

Best All-Around Mortgage Lenders for Borrowers with Bad Credit

Taking into account the entire user experience, there are two bad credit mortgage lenders that stand out:

New American Funding

New American Funding is just about everywhere and doing everything right. They have 150 branch locations across the U.S. (except New York and Hawaii) and have a solid web presence.

The loan application can be completed online. You can also get rate quotes, and you can track your loan status remotely.

New American Funding works with down payment assistance programs in numerous states. They also have a vast array of loan products.

Here’s a list of everything they offer:

  • Adjustable-rate loans (5/1, 7/1, 10/1)
  • Bank Statement Loans
  • Conventional and FHA Loans for Renovation
  • Fixed-rate Loans of 10, 15, 20, and 30 years
  • FHA loans, VA loans, and USDA loans
  • Loan refinancing
  • Manufactured home loans

Unlike other mortgage lenders, they still do everything old-school — they evaluate each application individually with (gasp!) a real live human. No algorithms here.

In other words, they’ll look at you holistically despite your bad credit score because they understand that cultures handle money differently.

For example, Latinos tend to pull money from family members when making a large purchase and prefer cash to credit cards.

With a no-debt mindset, of course, you may have a low credit score, but that doesn’t mean you don’t know how to handle money.

A person’s ability to be a responsible homeowner goes beyond what the three major credit bureaus consider. And New American understands that.

Read our full review of New American Funding

Carrington Mortgage Services

Carrington Mortgage Services seems to bend over backward to help people with poor credit become homeowners. They’re even willing to work with you if your FICO score is as low as 550.

Carrington also requires all homeowners to go through a mortgage education program before purchasing, which some people consider a negative.

They do this to make sure all borrowers understand everything that revolves around a home loan so that they’ll be more likely to make better financial decisions in the future.

Carrington considers the typical factors that play into your credit score, like payment history and money owed. However, they also consider job history, job stability, gross income, and down payment size for approval.

Need assistance with a down payment?

Depending on where you live, Carrington may be able to help you. However, the program isn’t available nationwide because some states would require Carrington to sell the servicing rights to the associated loans if they helped with the down payment.

If they did this, it would impact their ability to work with low-income, bad credit borrowers.

It should come as no surprise that Carrington has a solid digital infrastructure, and offers competitive refinance rates. Their customer service is also among the best of the best.

The only cons we can come up with for this company is that it’s not in every state (Alaska, Massachusetts, North Dakota, and Vermont.) Additionally, Carrington can’t offer down payment assistance nationwide.

Bottom line: Carrington Mortgage Services is awesome.

Read our full review of Carrington Mortgage Services

Tips for Applying for a Home Loan With Bad Credit

Many of the mortgage lenders listed in this article are ideal for borrowers with high credit scores. But if you have a lower credit score, know that it’s still possible for you to qualify for a home loan.

Many bad credit mortgage lenders are willing to work with borrowers that have lower credit scores. Here are five steps you can take to get started.

1. Take steps to begin improving your credit score

The first place to start is to request a free credit report from each of the credit bureaus. Your credit reports will give you an idea of where you are currently and the steps you can take to improve your credit score.

Make sure you check your credit report for any inaccuracies or derogatory marks. You can request to have any incorrect information removed. If you have any negative marks on your credit report, you can write your lender a goodwill letter and ask to have them removed as well.

The best way to improve your credit score is by paying down credit card debt and making monthly payments on time. Just taking these two action steps alone should help your credit score, since they account for most of your FICO score.

2. Be realistic about what you can afford

You can still apply for a mortgage with a bad credit score. But be realistic about what you can afford with your current budget.

With a low credit score, most lenders will see you as more of a risk of defaulting on your mortgage, so you will have a higher interest rate. However, if you only request the maximum loan amount you need, you’ll have a better chance of getting approved for your loan.

3. Check out alternative loans

Borrowers with imperfect credit may qualify for a bad credit mortgage loan with alternative homebuyer programs. For example, borrowers can get an FHA loan with credit scores as low as 580. The required minimum down payment is 3.5%.

Veterans with less than perfect credit should look into getting a VA loan. These mortgage loans don’t have a minimum down payment requirement and are easier to qualify for than conventional mortgages.

Finally, USDA loans are designed for low-income homebuyers in rural areas. They typically require a credit score of at least 640.

See also: 14 First-Time Homebuyer Grants and Programs for 2023

4. Save up for a sizable down payment

If you want to increase your odds of approval, then it’s a good idea to save up for a sizable down payment. At least 20% is ideal for convention loans. It will also save you from having to take out private mortgage insurance (PMI).

A down payment won’t compensate for a bad credit score. However, it could help you make your case with some lenders.

5. Consider applying with a qualified cosigner

And finally, you can look into applying with a qualified cosigner. When you apply with a cosigner, that person agrees to take legal responsibility and repay the loan if you can’t. And since that person’s credit score is tied to the loan as well, it increases your odds of approval.

However, cosigning a loan is a risky move. So, you only want to ask someone to do this if you’re confident you can make your monthly mortgage payments. Otherwise, you’re putting that individual’s financial future at risk.

How to Compare Lenders for Bad Credit

Finding the best mortgage lender to fit your financial situation requires careful consideration. You need to be sure about what you need from any bad credit home loan. Along with mortgage rates and loan terms, here are the other major factors to consider when comparing mortgage lenders:

Minimum Credit Score Requirements

Minimum credit scores will vary depending on the mortgage lender and the specific loan product. There are many lenders who will work with a low credit score, including all the lenders we’ve analyzed above. 

Debt-to-Income Requirements

In most cases, the maximum debt-to-income ratio that lenders will work with is around 43%. However, with so many online mortgage lenders today, you will still find mortgage companies that have higher than normal debt-to-income limits.

Make sure you’re clear on where your debt-to-income ratio stands. Then, take some time to see if you can improve it before applying for a loan formally.

Down Payment Requirements

The reality is, if you have a bad credit score, you’ll likely be required to save a larger minimum down payment. Generally speaking, those with a lower credit score who still qualify for lending will need a down payment of 10%.

However, regardless of what your credit history looks like, it’s useful to shop around. This is because most mortgage lenders will consider a range of factors when evaluating your loan application.

Home Buyer Assistance Programs

When considering different mortgage products, make sure to look for any home buyer assistance programs. Many companies have their own programs with benefits. They can range from a lower minimum credit score requirement, lower down payment percentages, or credits toward closing costs.

Fees

The most common mortgage fees include origination fees, application fees, underwriting fees, processing fees, and administrative fees. Some lenders don’t charge these fees, but don’t forget to check what they do charge.

Frequently Asked Questions

What is considered ‘bad credit’ for a mortgage?

According toFICO, which is the biggest credit scoring company, anything below 580 is considered poor credit. Here’s a quick run through of the entire credit scoring range:

  • 300 – 579 – Poor credit
  • 580 – 669 – Fair credit
  • 670 – 739 – Good credit
  • 740 – 799 – Very good credit
  • 800 – 850 – Exceptional credit

However, the definition of ‘bad credit’ can vary between lenders, as they won’t all stick rigidly to FICO scoring. So keep this in mind as you look for loan products to apply for, and make use of online loan quotes that don’t run hard credit checks.

Can I get approved for a mortgage with bad credit?

Absolutely, it is possible to qualify for a mortgage even if you’ve got a low credit score. Your credit score is always an important factor for mortgage lenders. However, alternative credit data such as stable employment and saving a large down payment can sometimes help offset a bad credit score.

Some mortgage products, like FHA loans, come with lower minimum credit score requirements than conventional loans. However, if possible, you should always try to build your credit score before taking out a loan. This can help you significantly improve your mortgage options. It can land you a better interest rate and lower monthly payment, potentially saving you thousands of dollars.

What type of mortgage can I qualify for with bad credit?

There are several types of mortgage products available for those with poor credit:

FHA loans

Government backed loan programs, such as Federal Housing Administration (FHA) loans, are among the most popular options for bad credit borrowers. The majority of people will need a minimum credit score of 580 to qualify, as well as a minimum down payment of 3.5%. However, if you can make a 10% down payment, you could be eligible for an FHA mortgage with a credit score as low as 500.

VA loans

While VA loans don’t have any formal credit score requirement, the reality is that the ideal credit minimum varies between lenders. If you do go for a VA loan, keep in mind that many lenders prefer to lend to those with a higher credit score. However, others will be more sympathetic to lower credit scores.

USDA loans

Another of the popular government backed loans, USDA loans typically require a credit score of at least 640. However, that doesn’t mean it’s impossible to qualify for a USDA-backed loan with a low credit score. It just means your application will have to be processed manually, and may require consideration of alternative credit data.

If your score is high enough, you can use a USDA loan to purchase a home with no down payment.

What is the lowest credit score I can get a mortgage with?

The lowest credit score you can get a mortgage with varies depending on the type of loan and the individual lender’s requirements. Conventional loans usually have a minimum credit score of 620, and for jumbo loans it’s 680. However, FHA, VA, and USDA loans allow lower minimum credit scores and might make more sense for you if your credit is poor.

For lenders who offer bad credit mortgages, a credit score of 500 is generally the lowest that lenders will work with. Your interest rate will be high and you’re likely to need a large down payment to get a mortgage with a score this low.

Source: crediful.com

Apache is functioning normally

Apache is functioning normally

These streets will make you feel brand new. Big lights will inspire you.

The Big Apple is one of the most iconic places on Earth. New York City residents even go as far as to associate the concrete jungle with who they are as a person. With world-class museums, accessible public transportation, delicious restaurants, influential theatres and many famous landmarks, the city is truly a tourist’s paradise.

But while visiting is fun, moving to New York City may feel overwhelming. Between apartment hunting, navigating steep annual rent and the various boroughs of the city, the city feels like no other city.

In this guide, we’ll break down what you need to know before you pack your bags and set off to become a New Yorker.

Moving to New York: the complete Big Apple overview

New York City is the most populous city in the United States. Thinking of the city might conjure up images of the Empire State Building, the Statue of Liberty and the bright lights of Broadway.

However, there’s much more to the city than the tourist hotspots. New York City is divided into five boroughs: Manhattan, Brooklyn, Queens, the Bronx and Staten Island. Each has a distinctive personality, with different cultural influences and attractions.

While each area is different, here are some key figures to give you a glimpse of the city overall.

  • Population: 8,500,000
  • Population density (people per square mile): 29,302.6
  • Median income: $70,663
  • Average studio rent: $4,264
  • Average one-bedroom rent: $5,367
  • Average two-bedroom rent: $7,914
  • Cost of living index: 100

Popular neighborhoods in New York

Between all five boroughs, New York City has hundreds of neighborhoods to explore. But don’t let this intimidate you. They’re all connected by New York’s world-famous transit system, so you can peruse them at your leisure. Here are a few of our favorite neighborhoods to get you started.

  • Astoria: Astoria is located in Queens, just across the river from Manhattan’s Upper East Side. This charming neighborhood is made up of low-rise buildings and small businesses, giving it a more suburban feel than you might expect in the big city.
  • Riverdale: Who said you couldn’t get beautiful green spaces in New York City? Riverdale, located above Manhattan in the Bronx, is known for its natural landscapes. With Van Cortlandt Park, Wave Hill and stunning Hudson River views, this quiet residential neighborhood is ideal for New Yorkers who still want to enjoy the great outdoors.
  • West Village: The West Village, located in downtown Manhattan, perfectly encapsulates the New York you know from your favorite movies and TV shows. This charming spot is tucked inside the larger Greenwich Village. It features tree-lined streets, historic brownstones and plenty of well-preserved historical landmarks from the neighborhood’s bohemian past.
  • Upper East Side: The Upper East Side offers excellent residential options and world-famous cultural sites. Located between Central Park and the East River, the neighborhood offers plenty of places to get outside and explore. The Upper East Side is also home to Museum Mile, where more than a dozen art and history museums await.
  • Williamsburg: Williamsburg is a great example of New York’s diversity. The Brooklyn neighborhood has long been a place where cultures blend, with plenty of eclectic dining, art and entertainment options. It’s also known for its family-friendly atmosphere with parks and tree-lined streets.

The pros of moving to New York

New York, the city that never sleeps, holds a unique place in the hearts of its residents. There’s no place in the world quite like New York City and few cities that even come close to comparable. Here are just a few of the reasons that people love living in this city.

A true cultural melting pot

More languages are spoken in NYC than in any other American metro. With its long, rich immigration history, the city hosts a colorful blend of traditions, cuisines and lifestyles. Especially through the distinct boroughs of New York City, which each have its own unique personality and cultural identity.

From the vibrant energy of Manhattan to the artistic ambiance of Brooklyn, the historical charm of Queens, the green serenity of the Bronx and the island spirit of Staten Island, no matter where you go in New York, you’ll always have the opportunity to learn about a different culture.

No car required

New Yorkers love to complain about their subway system. However, even they secretly know they have it better than most people in the other cities. New York City’s subway serves more than 400 stations, making it a breeze to get where you need to be.

The subway map shows the subway also connects to numerous bus lines, ferry stops and commuter trains, giving riders even more options. From the Upper West Side to Staten Island, the subway is the easiest way to get around your new city.

There’s always something to do

Getting bored in NYC just might be impossible. The city boasts hundreds of restaurants, bars, museums, theaters and places to shop. New York City also has excellent parks, scenic riverfront trails and even beaches. Whether your ideal Saturday is spent at the Metropolitan Museum or taking a subway ride to walk the Brooklyn Bridge, you will never run out of places to explore.

The cons of moving to New York City

Of course, no city is perfect. Here are a few downsides that you should consider before you move to New York.

The high cost of living

New York City is one of the most expensive cities in America. Here, you can expect everything from your monthly rent to your groceries to cost a bit more. Space is also at a premium, so even expensive rentals tend to be smaller than what newcomers might be used to. Even your security deposit will be a tad pricier than you are probably used to.

It’s hard to avoid the crowds

NYC is the most densely populated city in America. As such, it can be hard to avoid the crowds when you’re out and about. Neighborhoods in midtown and downtown Manhattan can get particularly packed, so plan accordingly. Consider neighborhoods like Staten Island and Brooklyn when opting for a less densely populated area in New York, with all the same perks and amenities.

The realities of big-city living

Living in any big city can take some getting used to and New York is no exception. The city can be noisy, dirty and downright overwhelming. If you’re coming from a smaller city or town, New York may feel like a different planet. It’s best to visit the Big Apple during your apartment hunt to really get a feel for the space and pace of the city.

How to get started on your move to New York

New York is a city that’s in constant motion. But for the people who live here, no place feels more like home. If you’re ready to make New York your home, we’re here to guide you every step of the way. Find your perfect New York City apartment here, and get ready for your journey to the city that never sleeps.

Methodology

Rent prices are based on a rolling weighted average from Apartment Guide and Rent.’s multifamily rental property inventory of one-bedroom apartments. Data was pulled in October 2023 and goes back for one year. We use a weighted average formula that more accurately represents price availability for each individual unit type and reduces the influence of seasonality on rent prices in specific markets.

Population and income numbers are from the U.S. Census Bureau. Cost of living data comes from the Council for Community and Economic Research.

The rent information included in this article is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.

Wesley is a Charlotte-based writer with a degree in Mass Communication from the University of South Carolina. Her background includes 6 years in non-profit communication and 4 years in editorial writing. She’s passionate about traveling, volunteering, cooking and drinking her morning iced coffee. When she’s not writing, you can find her relaxing with family or exploring Charlotte with her friends.

Source: rent.com

Apache is functioning normally

Apache is functioning normally

Nestled among the rolling hills of Los Angeles, the legendary neighborhood of Bel Air has long been synonymous with opulence and seen as the pinnacle of West Coast luxury living.

And for good reason.

Located directly across from the iconic Sunset Boulevard, the world-famous enclave — whose very name is associated with lavish estates, Hollywood glamour, and understated affluence — continues to captivate both the privileged few and those who aspire to call it home.

Bel Air’s reputation as an exclusive haven for the world’s elite is well-earned, and its prestigious zip codes are graced with stunning architectural marvels, each a testament to the grandeur and sophistication that defines the area.

With bigger lots and more expensive residences than the equally famous Beverly Hills (which sits merely a few miles away), Bel Air effortlessly combines the allure of old-world charm with the comforts of contemporary living.

The reasons behind Bel Air’s enduring appeal are as diverse as the people who are drawn to its lush landscapes and private estates.

Breathtaking canyon views, impeccably manicured gardens, and a sense of seclusion rarely found in the midst of a bustling metropolis are just some of the factors that make this neighborhood an aspirational address for many.

The allure of Bel Air isn’t solely about its extravagant homes; it’s about the lifestyle it offers — a unique blend of tranquility and proximity to the cultural heartbeat of Los Angeles.

Bel Air mansions for sale

Today, we’ll explore a curated list of the most extravagant mansions currently on the market in Bel Air, each a testament to the neighborhood’s unmatched desirability and exclusivity.

These residences are more than just houses; they represent a way of life that is the envy of the world. Join me as we embark on a journey through the opulent world of Bel Air real estate, where luxury knows no bounds.

#1 755 Sarbonne Road, Bel Air – $39,900,000

Photo credit: Anthony Barcelo courtesy of Westside Estate Agency

Villa Sarbonne, one of the most impressive Bel Air houses currently up for grabs, sits mere minutes away from the neighborhood’s famous The One mansion — developer Nile Niami’s record-breaking project, which was once listed for $500 million.

With an impressive 15,000 square feet of ultra-luxurious living space, Villa Sarbonne has 6 bedrooms, 10 baths, and a long list of amenities.

To name just a few, 755 Sarbonne Road features a private wine cellar, home theater, library, a gourmet home kitchen, and a separate chef’s kitchen, as well as a wellness center with a travertine-clad steam room.

Photo credit: Anthony Barcelo courtesy of Westside Estate Agency
Photo credit: Anthony Barcelo courtesy of Westside Estate Agency
Photo credit: Anthony Barcelo courtesy of Westside Estate Agency
Photo credit: Anthony Barcelo courtesy of Westside Estate Agency
Photo credit: Anthony Barcelo courtesy of Westside Estate Agency

Stand-out features include a sculptural staircase and a 5,000+ sq. ft. terrace with panoramic city-to-ocean views.

Photo credit: Anthony Barcelo courtesy of Westside Estate Agency
Photo credit: Anthony Barcelo courtesy of Westside Estate Agency

The property is listed with Kurt Rappaport at Westside Estate Agency, who shares the listing with The Agency founder Mauricio Umansky and Farrah Brittany, also with The Agency.

#2 10702 Levico Way, Bel Air, California – $30,950,000

Photo credit: Anthony Barcelo courtesy of Westside Estate Agency

This quintessential Bel Air mansion sits in the ultra-exclusive, guard-gated community of Levico Estates, on a massive 4.3-acre lot.

Photo credit: Anthony Barcelo courtesy of Westside Estate Agency

Featuring over 12,000 square feet with every conceivable amenity, the luxury property has 6 bedrooms, 9 baths, a stunning 2-story entry, a large living room, a library/office, a gourmet kitchen with family room, a gorgeous primary suite with dual baths and closets, a gym, and a wine cellar.

Photo credit: Anthony Barcelo courtesy of Westside Estate Agency
Photo credit: Anthony Barcelo courtesy of Westside Estate Agency
Photo credit: Anthony Barcelo courtesy of Westside Estate Agency
Photo credit: Anthony Barcelo courtesy of Westside Estate Agency

And while the opulent interiors definitely caught our eye, the amenity list continues as we step outside, where the generous 4+ acre lot has everything from an outdoor loggia to a pool house, championship tennis court, large lawns, and gardens — all opening up to 360-degree city and canyon views. 

Related: The ‘Fresh Prince of Bel-Air’ House Isn’t Even in Bel-Air

Photo credit: Anthony Barcelo courtesy of Westside Estate Agency
Photo credit: Anthony Barcelo courtesy of Westside Estate Agency

The trophy property at 10702 Levico Way is listed with Kurt Rappaport of Westside Estate Agency.

#3 1740 Bel Air Rd – $19,900,000

Photo credit: Trevor Tondro courtesy of the Fridman Group / Compass

As the listing puts it, this “masterpiece of artful design nestled in the secluded hills of Bel Air… immediately transports you to a level of world-class beauty, serenity, and tranquility from the moment you enter the privately gated driveway.”

Built in 2014, the massive 11,246-square-foot home sits on a generous one-acre lot located just a short drive from world-class luxury shopping, fine dining, and entertainment venues.

With 7 bedrooms, 10 baths, a beautifully appointed open-concept living space, and floor-to-ceiling windows that showcase killer views, the property at 1740 Bel Air Rd is rightfully touted as a private sanctuary.

Photo credit: Trevor Tondro courtesy of the Fridman Group / Compass
Photo credit: Trevor Tondro courtesy of the Fridman Group / Compass
Photo credit: Trevor Tondro courtesy of the Fridman Group / Compass
Photo credit: Trevor Tondro courtesy of the Fridman Group / Compass

The inviting living room fireplace, the spacious chef’s kitchen with an oversized island, slab natural stone countertops, and custom natural wood cabinetry all against a canyon backdrop, the spa-like primary suite, the indulgent home theater with bar, and studio, are all spaces where every detail has been carefully curated to evoke a sense of calm livability.

Outside, the property is equally impressive, with lush landscaping and mature trees that provide privacy and seclusion.

Photo credit: Trevor Tondro courtesy of the Fridman Group / Compass
Photo credit: Trevor Tondro courtesy of the Fridman Group / Compass

The luxury property is listed with Tomer Fridman of The Fridman Group at Compass.

#4 10901 Chalon Road – $16,495,000

Photo credit: Nils Timm courtesy of The Agency

In prime Bel Air, nestled behind mature Pepper trees and lush California landscaping, sits a 9,000-square-foot contemporary marvel with bespoke interiors by KNA Design and tranquil outdoor entertaining spaces.

The gated 6 bed/8 bath private residence boasts upscale finishes throughout (including oak wood, glass, natural honed stone and organic textures) and embodies California’s indoor-outdoor living to perfection.

Photo credit: Nils Timm courtesy of The Agency

With an elegant formal living room with a floor-to-ceiling marble fireplace and built-in-bar, vaulted ceilings, sky-high windows, and sliding doors that open into the expansive backyard, the Bel Air mansion also features a formal dining room with a walk-in wine closet and a showstopping kitchen with a large marble-clad center island and cozy breakfast nook.

Photo credit: Nils Timm courtesy of The Agency
Photo credit: Nils Timm courtesy of The Agency
Photo credit: Nils Timm courtesy of The Agency

The 10901 Chalon Road property also has a double-height ceiling living room upstairs, which connects four of the bedrooms, and a spacious primary suite that overlooks views of Bel Air from a private balcony connecting to the wellness area below.

Photo credit: Nils Timm courtesy of The Agency
Photo credit: Nils Timm courtesy of The Agency

The property is listed with David Parnes and James Harris (Bond Street Partners) and Monique Navarro with The Agency.

#5 14319 W Mulholland Drive – $8,350,000

Photo credit: Mike Kelley courtesy of Compass

A newly built contemporary home perched in the Bel Air mountaintop at the end of a winding, privately gated driveway, is looking for a buyer. And we doubt it will have any issues finding one, as the 4,500-square-foot home is quite the stunner.

Photo credit: Mike Kelley courtesy of Compass

With three bedrooms, four baths, a grand double wooden staircase separated by a glass walkway, upper-level tranquil gardens with lounge areas, and a rooftop garden area, the 2023-built home is far from your ordinary home.

The lower level hosts a generously sized living space where we find the great room, a wet bar for entertaining, and an impeccably designed chef’s kitchen — that boasts a sleek, contemporary dark color palette and custom stacked cabinetry.

Photo credit: Mike Kelley courtesy of Compass
Photo credit: Mike Kelley courtesy of Compass
Photo credit: Mike Kelley courtesy of Compass
Photo credit: Mike Kelley courtesy of Compass
Photo credit: Mike Kelley courtesy of Compass

Outside, we find a true backyard oasis with several seating areas, an infinity edge pool, an al fresco dining area, and a custom built-in bar.

Photo credit: Mike Kelley courtesy of Compass
Photo credit: Mike Kelley courtesy of Compass

And while it’s hard to believe that this is the most affordable property out of all the beautiful Bel Air mansions we went over today, it’s the only one that sports a price tag under $10 million. Listed for $8,350,000, 14319 W Mulholland Drive is repped by Tomer Fridman with the Fridman Group at Compass.

All the above Bel Air mansions for sale are representative of the caliber of homes in the sought-after Los Angeles neighborhood. And we’ll be keeping an eye out for new listings popping up on the market, as well as notable sales in the area, to provide you with a comprehensive resource on the most extraordinary Bel Air houses making moves on the Los Angeles real estate scene.

If you’re a real estate professional with equally impressive listings in the Bel Air area, you can reach out to us at [email protected] and submit them for consideration.

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Source: fancypantshomes.com