EquipmentShare Bets Big on Louisiana With $187 Million Expansion

The nation’s fastest-growing construction technology and heavy equipment rental company is making a major play in Louisiana. EquipmentShare has opened a new $33 million branch in Lacombe as the first visible step in a broader $187 million expansion across the state, a move officials say will create roughly 120 new jobs and significantly deepen the company’s Gulf Coast footprint.A modern kitchen opens into the living room, featuring a large island with a sink, white cabinetry, and black hardware.

State and parish economic development leaders recently gathered for a ribbon-cutting at the Lacombe facility, which sits just north of Interstate 12 on Krental Road. For months, drivers along the busy corridor have watched the site quietly fill with rows of machinery. Now it’s official: the lines of scissor lifts, excavators and towering cranes belong to EquipmentShare, which plans to grow to 13 Louisiana locations as part of this expansion effort.

Company co-founder and CEO Jabbok Schlacks framed the move as a strategic bet on the state’s long-term growth. Louisiana is in the middle of a wave of activity in coastal resilience, infrastructure, energy and industrial development, and each of those sectors relies heavily on access to modern equipment and the technology that keeps it productive. By scaling up in Louisiana, Schlacks said, EquipmentShare aims to position itself as a core partner for the contractors and builders doing that work.

State leaders see the company’s decision as both a validation of recent economic development efforts and a signal to other investors. Louisiana Economic Development Secretary Susan B. Bourgeois has been aggressively pitching the state as fertile ground for new and expanding businesses, and she recently pointed to 58 projects that could translate into as many as 70,000 new jobs. In that context, EquipmentShare’s commitment is being held up as a concrete example of that messaging paying off.

Local officials in St. Tammany Parish are equally eager to highlight the Lacombe branch as a win for the regional economy. Russell Richardson, president and CEO of the St. Tammany Economic Development Corporation, said the company’s decision to plant roots there demonstrates confidence in the area’s workforce and business climate. The Lacombe operation alone is expected to bring about 25 new jobs to the parish, with positions ranging from service technicians and yard staff to sales and management roles.

Founded in 2015 and headquartered in Columbia, Missouri, EquipmentShare has already grown into a major national player, with 348 locations across the United States. The company is not limiting its ambitions to Louisiana: it has also announced expansion plans in Georgia and Montana, where it expects to invest another $266 million. The broader strategy is clear—build a dense network of branches that can support large-scale construction and industrial activity across multiple regions.

The company is also working to establish community ties beyond the job numbers and equipment inventory. As part of its St. Tammany presence, EquipmentShare has committed to donating $2,500 annually to two local charitable organizations: Miracle League Northshore, which provides baseball opportunities for children with special needs, and Hogs for the Cause, which supports families navigating pediatric brain cancer. While modest in dollar terms compared to the capital investment, those recurring contributions are a deliberate nod to the community-focused image the company is cultivating.

For now, the most visible symbol of EquipmentShare’s Louisiana ambitions is the Lacombe yard full of iron and steel just off I-12. But for local leaders, the more important story is what it represents: an indicator that national firms see long-term opportunity in the region’s economy and are willing to commit serious money, jobs and equipment to be part of its next chapter.

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Mid October Emerges As A Prime Moment For Homebuyers

If you are thinking about buying a home in the near future, it may be smart to get your finances in order now, because a recent report from Realtor.com points to a very specific stretch of days when conditions should tilt more in favor of buyers. The week of October twelve through eighteen is expected to offer a rare mix of higher inventory, slightly lower prices, and less competition, creating a window of opportunity that has been difficult to find in recent years.

Realtor.com chief economist Danielle Hale explains that the 2025 housing market is finally giving buyers something they have not had in quite some time, real options instead of the limited choices and intense pressure that have defined much of the past decade. She expects the current shift in momentum to amplify the usual seasonal trends that already tend to benefit buyers in the fall. During that mid October week, data from Realtor.com suggest that shoppers will see more homes for sale, face less competition from other buyers, and potentially save more than fifteen thousand dollars on average compared with the peak prices seen over the summer, based on a median priced home of 439,450 dollars.

This opportunity is not just about the possibility of paying less, it is also about having more properties to choose from. Realtor.com projects that active listings will be up by about 32.6 percent compared with the beginning of the year, pushing inventory to its highest point since before the pandemic. Because listings often peak in early fall, buyers can use this period to weigh different neighborhoods, house styles, and price points more carefully instead of feeling forced into rushed decisions.

Competition tends to ease as well once the summer rush has passed. The report estimates that buyer activity during this October week is usually 30.6 percent lower than during the peak season. Many families still prefer to move when children are out of school and settled before the new academic year begins, so the most intense housing activity often happens in spring and summer. By mid October, there are fewer active bidders chasing each home, which reduces the likelihood of escalating bidding wars and makes it easier for buyers to stick to their budgets.

Another advantage for buyers at this time of year is that homes generally stay on the market longer. In October, properties typically remain listed for about two weeks more than they do during peak season. That extra time can shift some leverage toward buyers, since sellers who have watched their homes sit may become more flexible. Realtor.com notes that around 5.5 percent of listings see price reductions during this period, which can open the door to better deals and more room to negotiate on terms such as closing costs, repairs, or move in dates.

The exact best week to buy can still vary by location, so buyers need to pay attention to local patterns as well as national trends. Large metro areas such as Houston, Los Angeles, and Washington District of Columbia tend to follow the October twelve through eighteen timing. Other major markets, including New York, Philadelphia, Chicago, Atlanta, and Dallas, often see buyer friendly conditions arrive a few weeks earlier, frequently in September. In Florida markets such as Miami and Tampa, the most favorable period for buyers may not arrive until as late as December, reflecting different seasonal demand and regional dynamics that Realtor.com tracks in its analysis.

Even with these advantages, Hale cautions that the market has not fully shifted into a classic buyers market. Instead, conditions are more balanced than they have been in years, after a long stretch of historically tight supply and intense competition that priced many households out. For buyers who are prepared with their financing, have a clear budget, and know what they want, recognizing this mid October window and planning around the timing in their own area could make the difference between missing out and finally securing a home that fits their needs and their long term plans.

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Applications Jump as Borrowing Costs Ease

Mortgage shoppers and homeowners finally have a bit of tailwind. After a gradual slide, average borrowing costs have dipped enough to stir meaningful activity, giving both prospective buyers and current owners a reason to recheck the math.A charming curved driveway frames the lush green lawn and professional landscaping, offering a graceful approach to this idyllic and timeless residence nestled among mature trees.

Fresh figures from the Mortgage Bankers Association show total mortgage applications climbing 9.2% from the prior week on a seasonally adjusted basis. Refinancing led the way with a 12% weekly gain and a striking 34% jump versus the same week a year ago, a surge that typically appears when rate moves are large enough to matter on monthly payments.

Behind the momentum is a softer economic backdrop and a corresponding pullback in mortgage pricing. The MBA reports the average 30-year fixed has eased to 6.49%, its lowest level since last October. According to MBA’s Joel Kan, the rate retreat unlocked the strongest overall borrower demand since 2022, with purchase applications rising to their highest point since July and running more than 20% ahead of last year’s pace.

Refinance activity also logged its best holiday-adjusted week in a year. Kan noted that average refi loan sizes increased notably, a sign that homeowners with larger balances—who are most sensitive to even modest rate shifts—rushed to capture savings. Nearly half of all applications last week were for refinances, underscoring how quickly sentiment can flip when pricing improves.

Homebuyers, meanwhile, appear to be recalibrating expectations. A TurboHome-ResiClub sentiment snapshot shows a growing willingness to transact in the mid-6% range: in the first quarter of 2025, 41% of homeowners said they would accept a mortgage up to 6.0% on their next purchase, and by the third quarter that share had climbed to 52%. The more consumers internalize these levels as the “new normal,” the easier it becomes for qualified shoppers to move from browsing to bidding.

Perspective still matters. Even with the recent relief, today’s 30-year average remains about 20 basis points above where it stood a year ago, when disappointing jobs data briefly pulled rates lower. Volatility is part of the landscape, and week-to-week moves can reverse.

For buyers and owners alike, the practical takeaway is to be prepared. Preapprovals, active monitoring of listings, and quick lock decisions can convert small rate dips into real affordability gains, while higher-balance homeowners may find that a refinance finally pencils out. The latest drop is not a cure-all, but it is a meaningful nudge in favor of action for those ready to make a move.

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What a 6.29% Average Means for Buyers Now

A softer August employment readout jolted mortgage markets on Friday, pushing the average 30-year fixed rate down 16 basis points to 6.29%, per Mortgage News Daily. That’s the lowest level since October 3 and the largest single-day slide since August 2024—finally cracking the upper-6% range that had capped borrowing costs for months.

Bond traders had circled the jobs release as the week’s make-or-break event, and it delivered. As Mortgage News Daily’s Matt Graham noted, labor data reliably steers rate volatility, and this time the weaker print translated into cheaper loans almost immediately. He also flagged that many lenders are now pricing even better than early October, with some quotes creeping into the high-5% territory depending on borrower profile and loan structure.

Shaving three-quarters of a percentage point from spring’s peak (7.08% in May) changes the math. Consider a $450,000 purchase—just above August’s national median—financed with 20% down on a 30-year fixed. Excluding taxes and insurance, the monthly payment at 7.00% is about $2,395; at 6.29%, it’s roughly $2,226. That $169 difference can be the margin that improves debt-to-income ratios, unlocks a better approval, or widens a buyer’s target list.

Homebuilder shares popped on the move, with large caps like Lennar, D.R. Horton, and Pulte up around 3% midday, and the homebuilding ETF ITB gaining nearly 13% over the past month as yields drifted lower. On Main Street, however, purchase applications remain subdued. MBA data show purchase demand running 6.6% below levels from four weeks prior, underscoring that affordability constraints and confidence—not just rates—are still in the driver’s seat.

Realtor.com chief economist Danielle Hale summed up the current stalemate: buyers are stretched, sellers face more competition than a year ago, and builders are contending with softer traffic. It hasn’t tipped into crisis, but it has made for a “cruel summer” across housing.

Many analysts argue the real psychological—and budget—breakpoint is a sustained five-handle. Prices remain elevated nationally, and while appreciation has cooled, outright declines are not widespread. Add an uncertain economic outlook and a wobbly job market, and it’s clear why some would-be buyers prefer to wait for further clarity.

Follow-through in rates: One day doesn’t make a trend. If mortgage rates hold near 6.3% or drift toward the high-5s, you’ll likely see incremental pickup in showings and contracts.

Inventory and price cuts: More active listings plus seasonal price reductions could combine with lower rates to meaningfully improve affordability this fall.

Fed signaling: Upcoming policy commentary will shape Treasury yields—and by extension mortgage pricing—into year-end.

Friday’s drop isn’t a magic wand, but it’s real relief. For some buyers, 6.29% turns “almost workable” into “go time.” If a home matches your needs and fits the budget today, consider acting—and keep refinancing in your back pocket if rates drift lower from here.

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Should You Buy a Second Home in Retirement?

Falling mortgage rates and more flexible sellers are giving retirees new opportunities to explore the dream of owning a second home. According to a recent Redfin report, interest rates have dipped to their lowest levels in nearly a year, and with more sellers willing to negotiate on price, the timing looks better than it has in a while.  This sophisticated pendant light makes a bold yet balanced statement with its double-drum design. A warm, woven fabric exterior encircles a rich gold interior, casting a soft, golden glow that elevates the ambiance of the room.

But before diving into a second purchase, retirees should weigh the financial implications, lifestyle fit, and long-term benefits carefully. Here’s a breakdown of what to consider — along with the pros and cons of adding a second property to your retirement years.

Key Steps to Buying a Second Home in Retirement

1. Protect your retirement savings
Avoid tapping into 401(k) or IRA funds to cover the purchase. Early withdrawals (before age 59½) trigger penalties and taxes, and even later withdrawals can push you into a higher tax bracket.

2. Define the purpose of the home
Decide if it will be a vacation getaway, a future primary residence, or an investment property. Many buyers in their 50s and 60s purchase second homes primarily for personal use, but having a clear purpose upfront prevents regret later.

3. Match the home to your lifestyle
Think beyond today’s wants — consider accessibility features like single-level layouts, proximity to healthcare, and amenities you’ll need as you age.

4. Explore your financing options
Paying in cash can simplify the process and preserve retirement income for other needs. If you plan to finance, know that second-home mortgage rates are typically 0.5% higher than primary residence loans, averaging 6%–7% in 2025.

5. Research local markets
Since demand for second homes has cooled, more listings are seeing price cuts — 23% in January 2025 alone. Investigate trends and, if you plan to rent the home, study the potential for rental income.

6. Budget for hidden and ongoing costs
Beyond the purchase price, plan for maintenance, insurance, utilities, and taxes. Homes in high-risk areas, such as coastal Florida, often carry especially high insurance premiums.

Benefits of Owning a Second Home

  • A personal retreat: A place dedicated to your own relaxation, vacations, or seasonal living.
  • Financial leverage: Retirees with strong equity in their primary residence sometimes buy their second home outright, often with cash.
  • Peace of mind: Many buyers simply want a home that feels like theirs, free from work or family obligations.
  • Long-term appreciation: Homes historically rise in value — NAR data shows average annual appreciation of 6% to 7% over the past decade.
  • Tax advantages: Renting for more than 14 days per year can unlock deductions for expenses, and relocating your permanent residence to a lower-tax state can cut retirement costs.

Risks and Challenges

  • Ongoing expenses: Maintenance, property management, and unexpected repairs add up.
  • Reduced liquidity: Retirees often live on fixed incomes; tying up funds in real estate can reduce financial flexibility, especially in emergencies.
  • Opportunity costs: Investing $500,000 in an S&P 500 index fund could yield nearly $2 million in 20 years, compared with roughly $1.3 million from a home appreciating at 5% annually.
  • Time and effort: Managing a second home — especially one located far away — can become overwhelming without help.

A second home in retirement can be a wise investment, a source of rental income, or simply a peaceful escape. But it can also become a costly burden if purchased without careful planning.

As real estate investor Jacob Naig notes, the success of the decision depends on clarity of purpose: “Buying a second home can be both a sound investment for retirees or an unexpected headache, depending on how the decision was made and for whom it was made.”

Before moving forward, evaluate your financial security, your long-term retirement goals, and your tolerance for risk. Done thoughtfully, a second home can enhance your golden years — not complicate them.

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Why New Homes Are Becoming More Affordable in Today’s Housing Market

Housing costs have surged more than 50 percent since the pandemic began, and mortgage rates remain close to 7 percent, keeping affordability a challenge for many buyers. Yet one surprising shift has emerged: the traditional price gap between new-construction homes and existing homes is narrowing. In several markets, new builds are not only more competitively priced but also offer better value per square foot, often paired with enticing incentives from builders.With manicured landscaping, a large two-car garage, and tall windows that allow for natural light throughout, the curb appeal is both charming and sophisticated.

For years, new-construction homes commanded a steep premium. Higher prices were driven by modern amenities, rising material and labor costs, and strong demand. But that dynamic is changing. According to Realtor.com, median listing prices for new homes dropped year over year in 30 of the nation’s largest metro areas during the most recent quarter. The median listing price of a new home in the second quarter of 2025 was roughly $450,000, compared with $418,000 for an existing home. While the sticker price remains higher, buyers are finding more competitive deals when factoring in space and incentives.

The most notable declines have been concentrated in the South and West, where competition and softer demand have pressured builders to adjust. In markets like Little Rock, Arkansas; Austin, Texas; and Jacksonville, Florida, prices for new homes fell between 7 and 15 percent. Danielle Hale, chief economist at Realtor.com, emphasized the importance of this trend, noting that affordable new construction can help ease the nation’s housing shortage, which still hovers near 4 million homes.

In terms of value, new builds are often more cost-efficient per square foot. National averages show that new homes are listed at about $218 per square foot, compared with $226.56 for existing homes. Builders have also responded to affordability concerns by making homes smaller. A report from John Burns Research & Consulting found that nearly one-quarter of new homes in 2024 were downsized to reduce costs. Rather than shrinking individual rooms, many architects redesigned layouts to eliminate unnecessary hallways and maximize usable space.

Incentives have become another powerful tool for boosting sales. Builders are offering perks such as design upgrades and, most notably, mortgage-rate buydowns. These buydowns, in which builders cover the difference between market mortgage rates and discounted rates offered to buyers, have proven especially popular. A recent National Association of Home Builders survey found that 61 percent of builders are using such incentives. Buydowns can lower monthly payments significantly, making homeownership more attainable despite elevated interest rates.

While these offers provide short-term relief, experts warn that temporary buydowns may carry risks. If rates remain high or reset upward, buyers could face higher payments in the future. Even so, incentives have played a major role in supporting new-home sales at a time when affordability challenges continue to weigh on the market.

Overall, while housing remains expensive, the evolving dynamics of new construction — including lower prices in certain regions, smaller but more efficient designs, and widespread builder incentives — are creating fresh opportunities for buyers. For those willing to consider new builds, the gap between affordability and aspiration may be narrower than it has been in years.

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How Homeowners Are Rethinking Their Outdoor Spaces

Rising costs and a renewed focus on functionality are reshaping how homeowners design and use their outdoor spaces. More than ever, people want their yards to serve multiple purposes, from relaxation and dining to gardening and recreation. At the same time, intentional design and sustainability are guiding choices, as families look to maximize every square foot of their property while staying mindful of long-term value.The image showcases an elegant outdoor dining area with a brick floor, featuring a large wooden dining table surrounded by wicker chairs, and a rustic chandelier overhead.

Spending more time outdoors remains a priority, and the trend of creating distinct “rooms” has become a defining feature of modern landscaping. Patios double as dining areas, shaded seating zones become living rooms, and garden beds serve both aesthetic and practical purposes. While the traditional rule of thumb suggested investing 10% of a home’s value in outdoor improvements, designers say today’s budgets are higher—averaging closer to 15% to 25% depending on the market. Part of that increase comes from rising labor and material costs, but it also reflects homeowners’ willingness to spend more on features that are sustainable and designed to last.

One of the clearest areas of investment is water features. Pools remain in demand, though designs are evolving. Many homeowners are trading older vinyl-lined pools for more durable gunite models, updating tilework, or opting for sleek rectangular shapes that have regained popularity. Compact pools and “spools” are also attractive for smaller lots, while extras like water jets, LED lighting, and integrated spas add luxury. Even in urban spaces, simple recirculating fountains are being used to bring the calming effect of water into outdoor living.

Landscaping is also shifting to reflect ecological concerns. Designers increasingly encourage native plants that attract pollinators such as bees, butterflies, and birds. Using species that are adapted to local soil and climate creates healthier, lower-maintenance gardens while reducing water use. In areas where water conservation is especially important, xeriscaping and drought-tolerant grasses are becoming the norm. Some homeowners are even leaning toward wilder, more natural landscapes filled with ornamental grasses, seed-bearing perennials, and boulders to create year-round visual interest. Others are turning to edible gardens, with blueberries, figs, strawberries, and grapes thriving even in rooftop spaces.

Seasonal color remains a priority as well, and landscape architects are designing with year-round interest in mind. Spring blossoms like cherry trees and tulips transition to summer hydrangeas and roses, while vibrant fall foliage and winter ornamental grasses ensure outdoor spaces are never without texture or beauty. This focus on variety gives homeowners spaces that evolve and remain engaging throughout the year.

Outdoor kitchens are another area where intentional design makes a difference. While some homeowners still want fully equipped setups with grills, smokers, pizza ovens, and bars, others prefer smaller, more modest kitchens with just the essentials. In both cases, outdoor cooking spaces are viewed as quality-of-life upgrades, particularly for families who continue to work from home and want to maximize their living environment. Seating areas and shaded structures often accompany these kitchens, creating natural hubs for entertaining.

Relaxation spaces round out the vision for many homeowners. Comfortable seating, shade structures, and features like fire pits or outdoor art help create cozy gathering areas. Some homeowners are even adding televisions, sound systems, and fans to make their outdoor living as functional as their indoor spaces. For those with larger properties, recreational amenities such as pickleball courts, putting greens, and tennis courts are becoming increasingly common.

Sustainability remains an underlying theme across all these upgrades. Homeowners are opting for permeable hardscapes like gravel, bluestone, and limestone to reduce runoff and allow water to recharge the soil. Artificial turf is chosen carefully, with many seeking non-toxic, pet-safe options. Between pavers, creeping perennials like sedum provide greenery while tolerating foot traffic. Irrigation systems are becoming smarter as well, with controls that track temperature and time of day to conserve water, while proper drainage planning prevents long-term erosion or flooding.

Together, these choices reflect a broader shift in how homeowners approach their outdoor environments. Instead of adding features piecemeal, people are prioritizing intentional design that balances beauty, sustainability, and function. Whether through a modest edible garden, a family-friendly pool, or a full outdoor kitchen, today’s outdoor spaces are being built not only for enjoyment but also for resilience and long-term value.

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Why Green Garages Are the Next Big Selling Point

It is no secret that eco-friendly homes are easier to sell. Buyers are more conscious than ever about sustainability, not only because of the ethical and environmental benefits but also because green features often lead to real savings on utility bills. For sellers, highlighting a home’s sustainability can add significant appeal, while real estate professionals who understand how to evaluate and present these features can set themselves apart. And while most conversations about sustainable living focus on bathrooms, kitchens, or rooftop solar panels, garages and outbuildings are quickly becoming part of the conversation too.A stunning modern home with white brick and a pitched roof.

A sustainable garage can improve a home’s overall efficiency in several ways. Proper insulation and energy-smart design reduce electricity use and lower heating and cooling costs. By stabilizing temperature and humidity, an eco-friendly garage not only makes the space more comfortable but also helps protect vehicles from rust and wear. For homeowners who use their garage as an extension of their living area, good insulation and smart upgrades can add usable square footage while keeping energy expenses under control.

The foundation of any green garage starts with insulation. According to interior designer Allanah Barnes, ensuring there are no gaps or direct exposures to the outside is the first priority. A well-insulated garage serves as a buffer between outdoor conditions and the rest of the house, keeping cold, heat, and moisture at bay. Insulating the shared walls between the garage and the home, as well as weatherstripping and sealing any leaks, can help cut down on household climate control costs. Caulking, foam spray, and high-quality weatherstripping are inexpensive fixes that make a big difference.

Replacing the garage door is another impactful step. Even the best-insulated space will struggle if the door is outdated or drafty. In fact, garage door replacement consistently ranks as one of the top remodeling projects for return on investment, with resale values often exceeding installation costs. Homeowners looking to make this upgrade can choose doors made from recycled steel or wood. For wood models, aluminum capping provides added weather resistance and durability.

Flooring choices also matter when it comes to sustainability. While epoxy remains a popular option for garage floors, it comes with harmful off-gassing and long-term environmental concerns. Instead, greener alternatives such as polished concrete, recycled rubber tiles, or even recycled glass or plastic tiles offer both durability and a reduced ecological footprint. Pairing these materials with low-VOC sealants further minimizes chemical exposure and environmental impact.

For those ready to take sustainability a step further, an at-home electric vehicle charger is becoming one of the most desirable additions. As EV adoption grows—half of all new cars are predicted to be electric by 2030—home chargers will soon be considered a standard feature rather than a luxury. Adding one not only prepares homeowners for the future but also increases property value today. Federal tax incentives make this upgrade even more appealing, with homeowners able to claim 30% of the cost, up to $1,000, on the purchase and installation of an EV charger.

As buyers grow more eco-conscious and as sustainability continues to drive property value, green garages are emerging as an overlooked but powerful selling point. With thoughtful insulation, smart material choices, and forward-looking features like EV chargers, garages can shift from being simple storage spaces to valuable, energy-efficient assets that make homes more marketable and future-ready.

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Creative Ways to Use a Personal Loan When Buying a Home

When most people think about buying a home, they focus on getting approved for a mortgage and calculating monthly payments. A personal loan isn’t typically the first tool that comes to mind. After all, most personal loans are capped at around $100,000 to $200,000—far below the cost of a home. But while a personal loan can’t replace a mortgage, it can still play a meaningful role in the homebuying process. Financial experts suggest that with careful planning, personal loans can help fill in the gaps and even save money in the long run.

One of the most overlooked benefits of a personal loan is its ability to help improve your credit profile before applying for a mortgage. According to Robert Gabriel, CEO of Vosita, using a personal loan to consolidate high-interest debt can reduce your debt-to-income ratio and improve credit utilization. That, in turn, can boost your credit score. And the higher your credit score, the better your chances of securing a lower mortgage rate.

Personal loans can also come in handy when it’s time to make a down payment. Sergio Aguinaga, founder of Michigan Houses For Cash, noted that buyers with reliable income but limited savings can use a personal loan to bridge the gap. Gabriel added that using a loan to reach a 20 percent down payment could help buyers avoid private mortgage insurance, which can add hundreds of dollars per month to a mortgage payment.

Another common obstacle for first-time buyers is closing costs, which typically range from 2 to 5 percent of the home’s purchase price. That could mean an additional $6,000 to $15,000 on a $300,000 home. Gabriel said a personal loan can help cover those fees without dipping into an emergency fund. Aguinaga also pointed out that for buyers purchasing older or fixer-upper homes, a personal loan can help make immediate repairs—sometimes even making the difference in passing a home inspection.

Beyond essentials, personal loans can also be used to make cost-effective upgrades that add value to the property. Eli Pasternak of Liberty House Buying Group recommends borrowing for cosmetic improvements like painting and updating fixtures. He noted that spending $8,000 on updates could boost a home’s value by as much as $20,000, making it a strategic move for buyers looking to build equity quickly.

Of course, personal loans add another monthly payment, so buyers should be careful to make sure it fits within their budget. But for the right person with a solid financial plan, a personal loan can be more than a quick fix—it can be a flexible tool that helps make homeownership possible.

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What Really Happens When You Close on a Home

Closing on a home is often thought of as the final handshake in a long process, but it’s far more than that. It’s a structured series of legal and financial steps that turn your offer on a house into ownership. For buyers, it’s the day they get the keys and take official possession. For sellers, it’s when they hand over the property and collect the proceeds. It sounds simple enough, but getting there involves a lot of paperwork, coordination, and preparation.

The entire closing process can take several weeks from the time your purchase offer is accepted. During that time, inspections are completed, financing is finalized, and documents are collected and reviewed. You’ll work closely with your lender, real estate agent, possibly a real estate attorney, and a closing agent. Some tasks, like securing homeowners insurance or completing a homebuyer education course, are your responsibility. Others, like scheduling an appraisal or drafting loan disclosures, happen behind the scenes. Staying organized and responsive during this time helps ensure a smooth transition to closing day.

One of the most important steps before closing is the home inspection. This helps identify any hidden issues with the property, giving you a chance to negotiate repairs or back out if necessary. You’ll also need to buy a homeowners insurance policy, prepare a down payment and closing funds, and gather financial documents your lender may request. Closing costs are often overlooked but can be significant, so it’s wise to compare lenders and negotiate where possible. You’ll receive a Closing Disclosure at least three days before closing that outlines exactly what you’ll owe.

Just before the big day, a final walk-through allows you to ensure the property is in the condition agreed upon. If repairs were promised, now’s the time to confirm they’ve been completed. On closing day itself, expect to sign many documents related to the loan, title, taxes, and property transfer. You’ll also pay any outstanding costs, often via wire transfer or certified check, and show proper identification. If everything is in order, you’ll get the keys—unless other arrangements were made for the seller to stay temporarily.

Closing timelines can vary depending on financing and regional practices. The national average is about 30 to 45 days, though all-cash deals may close faster. Preapproval can speed things up because much of the paperwork is already in place. Though the final stretch can feel overwhelming, having a clear roadmap and a trusted team makes it manageable. When the documents are signed and the keys are in your hand, the planning, waiting, and effort pay off with a home that’s finally yours.

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