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Most businesses report information to the credit bureaus every 30 to 45 days. Each on-time payment you make may barely affect your score, while a missed payment can have a significant effect.

But how often does your credit score update? Let’s find that answer, and learn how to keep an eye on your credit history and credit score.

Recommended: How to Build Credit Over Time

When Do Credit Reports Update?

Whenever consumers take some sort of action relating to their credit, their score, usually a number between 300 and 850, will fluctuate.

For instance, if they apply for a loan or miss a credit card payment, their score could change.

There is no set date for a credit score update because a lender or creditor may send information to the three main credit bureaus at different times: Experian one day, Equifax five days after that, and TransUnion a week later.

An update, though, will occur at least every 45 days.

Rather than constantly checking for updates, you might want to focus on long-term goals like paying off debt, always sending payments on time, and ensuring that your scores are going in an upward direction.

Recommended: Which Credit Bureau Is Used Most?

What Is a Good Credit Score?

Lenders most often use FICO® Score, but the credit bureaus introduced the VantageScore® in 2006 to provide a score that was more consistent among the three credit agencies.

This is how the FICO Score 8 and the latest VantageScore models break down:

FICO	VantageScore
Exceptional 800-850	Excellent 781-850
Very Good 740-799	Good 661-780
Good 670-739	Fair 601-660
Fair 580-669	Poor 500-600
Poor 300-579	Very Poor 300-499

People with high scores typically have access to higher lines of credit and lower interest rates. Those with low credit scores may not be approved for certain credit cards and loans. And if approved for, say, a mortgage, they will usually pay a much higher mortgage interest rate.

(That said, a conventional mortgage lender is free to set its own requirements when it comes to credit scores. Government-backed loans still have credit score requirements, even if they’re lower.)

How to Check a Credit Report

Under federal law, consumers are entitled to one free copy of their credit report every 12 months from each of the main credit reporting agencies, TransUnion, Experian, and Equifax.

AnnualCreditReport.com is the only authorized website for free credit reports, according to the Federal Trade Commission.

Consumers can also call 1-877-322-8228 and provide their name, address, Social Security number, and date of birth to verify their identity.

If you want to check your credit history more than once a year, you can ask one or all three credit reporting bureaus, for a small charge, for another copy.

Why check your credit report periodically? Mainly:

•   To make sure the information is accurate and up to date before you apply for a car or home loan, buy insurance, or apply for a job.
•   To help guard against identity theft.

Recommended: How To Read A Credit Report

How to Check a Credit Score

The free annual credit reports do not include your credit score — or more accurately, scores. Your credit score from each of the credit bureaus will vary based on the information each has. Lenders also use slightly different credit scores for different kinds of loans.

How to get your credit scores then? Here are a few ways:

•   Buy a score directly from the credit reporting companies or from myfico.com.
•   Look at a loan statement or a credit card statement. Some financial companies provide credit scores for customers as a perk.
•   Use a credit score checker. Some services give consumers access to their credit scores but charge for premium services like checking a score daily. Other sites may require that you sign up for a credit monitoring service with a monthly subscription fee in order to get your “free” score.
•   Sign up for an app like SoFi, which provides free weekly updates on your credit score and tracks all of your money in one place.

When signing up for credit score checking websites, it’s important for consumers to look at the terms of service and ensure they’re not being charged for premium services they do not want.

Also, it’s best to avoid an “educational” credit score vs. a score that a lender would use. For some, there will be a meaningful difference, the Consumer Financial Protection Bureau says.

What Makes Up a Credit Score?

Learning about what factors make up a credit score can help consumers raise their scores. Main factors that contribute to the score, in order:

•  Payment history (35-40%)
•  Credit utilization
•  Length of credit history
•  New credit
•  Credit mix

In terms of payment history, the most important factor when calculating a score, it’s critical to always repay debts on time.

The credit utilization ratio is the amount that is owed in relation to how much credit a person has overall. Keeping your credit utilization ratio below 30% is commonly recommended.

For the length of the credit history, consumers can increase their score by not closing cards. The longer someone’s credit history is, the better.

Applying for new credit cards and loans that require a hard inquiry into a credit report could bring down a score, even if the result is approval. However, if a score does go down, it shouldn’t take long for it to go back up. It’s multiple hard inquiries on a credit report in a short period that can cause damage. Then again, if someone is shopping for a mortgage or auto loan, both FICO and VantageScore account for multiple hard inquiries in a grace period of 14 to 45 days.

Credit mix refers to credit cards, student loans, auto loans, personal loans, and mortgages. By having a mix, consumers show that they can manage all kinds of debt.

Recommended: What Credit Score is Needed to Buy a Car

Why Credit Scores Matter

Having a high score can help consumers in a number of scenarios.

They will save money, and potentially a great deal of money if they gain access to lower interest rates.

The higher a score is, the more credit someone will be able to access as well.

Consumers can reach their financial goals quicker and utilize better products. For example, they may get approved for a credit card that offers perks like bonus travel rewards or a high cash-back rewards rate. They might also be able to use a card with a 0% introductory APR or 0% balance transfer rate for a certain period.

People with a high score may be able to rent a better apartment or home since landlords will check prospective tenants’ credit.

They may gain access to better car insurance rates and be able to avoid paying deposits to utility companies and cellphone providers.

Improving a credit score could take time, but it’s worth it because in the long run, consumers will save money and potentially reach their financial goals that much faster.

Recommended: Should I Sell My House Now or Wait

The Takeaway

How often does your credit score update? All the time, really, but once a month is a good barometer. You can order a free credit report every year, or you can see updates in your credit score for free or for a fee.

SoFi’s money-tracking tool offers a host of benefits at no charge:

•  Get weekly updates on your credit score.
•  See changes to key factors contributing to your credit score.
•  Link your checking, savings, investment, and retirement accounts as well as credit cards, student loans, and mortgages. Manually add an account or asset to see your entire net worth.

To take control of your credit score and financial future, sign up for SoFi today.

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*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.

SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .

Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

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In most parts of the United States, people move their clocks back by one hour in the fall and move them forward by one hour in the spring. Many people have been doing this their entire lives, yet they don’t fully understand it. Perhaps still worse, many don’t know just how expensive daylight savings time can be.

Here, learning more about this topic, including:

•   What is daylight savings time?

•   What are the benefits of daylight savings time?

•   How much does daylight savings time cost Americans?

•   What would happen if daylight savings time was eliminated?

What Is Daylight Savings Time?

Daylight saving time (DST), commonly known as daylight savings time, refers to moving clocks forward one hour in the spring and back one hour in the fall. You may be used to hearing this referred to as “spring forward, fall back,” which is the clever phrase people often use to help them remember which way to reset the clock.

The idea behind DST is to sync times of activity (work and school, for instance) with daylight, so less energy is needed for artificial illumination. Using less energy is, in turn, a way to live more sustainably.

A couple of bits of DST trivia:

•   New Zealand entomologist George Hudson was the first to propose daylight saving time in 1895. Major countries adopted the standard shortly thereafter.

•   The United States adopted DST with the Standard Time Act of 1918 and later with the Uniform Time Act of 1966.

While most states observe daylight saving time, there are some exceptions. For instance, it is not observed in Hawaii and most of Arizona. It is also not observed in Guam, American Samoa, Puerto Rico, the Virgin Islands, and the Northern Mariana Islands. The places in the U.S. that don’t have DST generally have a lot of sunlight year-round, making the practice far less appealing.

Countries around the world observe daylight saving time as well. That includes most of Canada and Europe, plus parts of Asia and South America.

Recommended: The Benefits of Automating Your Finances

Who Benefits From Daylight Savings Time?

Given that daylight savings time has been a fact of life for many years, you might wonder why exactly it exists. What are the pros of this system? Here are some answers:

•   Typically, daylight savings time is credited with saving energy. Proponents of DST say it reduces energy usage, thus improving the financial health of the country.

One study from the Department of Energy showed that daylight saving time leads to a mere 0.5% reduction in energy usage, however. And economist Kurt Rankin notes the evidence around reduced energy usage is inconclusive, with some studies asserting that there would be no economic impact of daylight savings time on energy usage at all.

•   A common belief is that industries like tourism and retail might benefit from daylight saving time. The idea is that more hours of daylight in the warm months incentivizes more people to give these businesses their patronage. Again, though, there is debate about the efficacy of this. Rankin says there is no evidence to support this claim.

•   There could be certain social benefits of daylight saving time, such as a reduction in robbery and sexual assault. Longer days mean people spend less time outside after dark, which might reduce these crimes.

How Much Does Daylight Savings Cost Americans?

Now that you know what daylight savings time is and its goals, here’s some intel on the other side of the story: What is the cost of daylight savings time?

The exact cost (or benefit) of daylight saving time is difficult to estimate because there are many variables. A frequently cited study places the cost at $430 million annually, a figure that could lead to significant money depression. The research credited the time change with lowering productivity and increasing health issues.

But the true cost can be tough to estimate. Part of the difficulty of estimating the cost of DST is that the impact is not the same for everyone. For instance, some industries, such as agriculture, are negatively impacted by DST. But others, like tourism, sports, and retail, believe daylight saving time helps their businesses.

Daylight saving time can also lead to reduced productivity for workers after they spring ahead and lose an hour of sleep. Sleep experts say the change in sleep patterns can affect people’s circadian rhythm for weeks. While also difficult to measure, the cost of lost sleep can be significant.

Recommended: Tips for Saving Money Daily

What Would Happen if Daylight Savings Time Was Removed?

The immediate impact of removing daylight saving time is that clocks would stay the same year-round. No longer would you fall back in November and spring ahead in March. This could help keep sleeping patterns more consistent year-round, potentially increasing quality of life.

Without DST in the United States, you would also enjoy light later in the day in the winter months. However, the sun would rise later, which could mean groggy mornings. The inverse would be true for the summer. The sun would rise very early in the morning, but it would also set earlier.

(In parts of the world that are close to the equator, the length of days is not as varied throughout the year. Thus, changing the clocks would have little impact on these parts of the globe.)

Some groups suggest there could be a real benefit to removing DST for office workers. For instance, one study from the University of Alabama Birmingham suggests losing an hour of sleep in the spring increases the risk of heart attack. While some say DST contributes to increased traffic accidents and deaths, others say the difference is insignificant.

As you see, there are many viewpoints to consider in this debate about DST.

The Takeaway

Daylight saving time, or DST, involves setting the clocks back one hour in the fall and forward one hour in the spring. There is a debate about the value of this system, which is designed to provide daylight when it’s needed most. Some believe it boosts productivity; others say the cost of daylight savings time in the U.S. is actually hundreds of millions of dollars. In addition, there is a debate about the potential health impacts of changing the clocks.

3 Money Tips

1.    Typically, checking accounts don’t earn interest. However, some accounts do, and online banks are more likely than brick-and-mortar banks to offer you the best rates.

2.    If you’re creating a budget, try the 50/30/20 budget rule. Allocate 50% of your after-tax income to the “needs” of life, like living expenses and debt. Spend 30% on wants, and then save the remaining 20% towards saving for your long-term goals.

3.    When you overdraft your checking account, you’ll likely pay a non-sufficient fund fee of, say, $35. Look into linking a savings account to your checking account as a backup to avoid that, or shop around for a bank that doesn’t charge you for overdrafting.

Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy up to 4.60% APY on SoFi Checking and Savings.

FAQ

Does daylight saving time save money?

The main way in which daylight saving time might save money is with lower energy costs. For example, it would cause people to have lights on for an hour less time in the evening, potentially saving energy. However, the Department of Energy released a study showing the energy savings to be just 0.5% per household on average.

How does daylight saving time boost the economy?

Some sectors, such as retail, believe daylight saving time can provide an economic boost by giving people an extra hour of daylight to go shopping. But the real-world evidence for this kind of idea tends to be mixed.

What are the downsides to daylight savings?

In today’s economy, the biggest downside to daylight savings might be the negative effect it has on workers when they lose an hour of sleep in the spring. For instance, it could lead to lost productivity due to drowsiness in the days and weeks after we spring ahead. Others believe it can lead to more severe consequences, such as an increase in the number of car accidents and heart attacks. However, the evidence for these more extreme impacts is inconclusive.

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SoFi members with direct deposit activity can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a deposit to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.

SoFi members with Qualifying Deposits can earn 4.60% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.

SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.60% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.

SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.

Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.

Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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While cities like New York and San Francisco may soak up a lot of the travel attention, a trip to Columbus, Ohio, can offer a great getaway in the middle of the country. Columbus is a vibrant city with one of the country’s top Millennial concentrations — which means that dining, festivals, concerts, and other entertainment options are often (but certainly not always) targeted towards a youthful, energetic demographic. This large, bustling city is filled with diverse neighborhoods and communities, each with its own unique vibe.

So, check out these fun things to do in Columbus, Ohio. You’ll learn about the 10 best things to do in town, plus find tips on when to travel and how to make your visit as affordable and enjoyable as possible.

Best Times to Go to Columbus, Ohio

Consider the weather. Columbus tends to experience a nice spring (although spring and summer can both have rainy spells), and summers are warm without typically being too hot. Autumn can be gorgeous with mild temperatures.

Columbus is a city of festivals throughout the year, particularly as temperatures warm up, covering a wide range of interests and audiences. Explore ones of interest, and schedule your trip for a time that dovetails with the activities you want to attend. Bonus: Many festivals are free, ideal for the frugal traveler.

The jewel in the crown is the Ohio State Fair (ohiostatefair.com/), chock full of entertainment (including but not limited to live concerts), food, playgrounds, competitions, and so much more.

Other festivals of interest include the:

•   Columbus Arts Festival columbusartsfestival.org/

•   Pride Parade columbuspride.org/

•   Jazz and Rib Fest hotribscooljazz.org/

•   Dublin Irish Festival dublinirishfestival.org/

If you’re a college football fan, you’ll likely love visiting Columbus in the early fall and being surrounded by serious pigskin energy among some of the most passionate fans in the land. You’ll encounter tailgate parties, pep rallies, and random people on the street, shaping and shouting the letters “O” and then “H” before listening to people holler back and shape with their arms the letters “I” and then “O.”

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Bad Times to Go to Columbus, Ohio

Two factors may cause you to reschedule: weather and traffic. From November through February, temperature can be darned cold with ice and snow often in the forecast. If you are flying into Columbus at that time of year, you may want to see if your credit card travel insurance will cover you, should your flight get significantly delayed or canceled.

March can be pretty chilly, too. Plus, if you aren’t going to Columbus for Ohio State-related activities, you might want to avoid steer clear; roads can be congested with restaurants, bars, and other venues likely to have long waiting times.

The same can be true when students are coming and going at the beginning and ending of semesters and when fair goers are flocking to the Ohio State Fair.

Average Cost of a Columbus, Ohio Vacation

Costs will vary based on how you’ll get there: driving, for example, or flying. If the former, current gas prices will play a role; if the latter, it’s wise to look into how to get cheap flights.

Here are more specifics:

•   If you’re traveling solo, expect to pay about just about $900 for a week’s trip. What you’ll spend, of course, depends on where you’ll stay and whether it’s a budget inn or a more luxurious hotel; where you’ll eat; and admission prices to anywhere you choose to visit.

•   No matter how frugal or freewheeling you plan to be, it’s helpful to know how to save money for a trip. You can then enjoy yourself without worrying that you don’t have enough cash for what you’d hoped to do.

•   The average price for a hotel room for a couple is $115 and, altogether, the average price of a trip for two is about $1,800 although the same caveats exist as described above. Here’s how to save money on hotels so you’ll have more in your pocket for dining, sightseeing, and so forth.

•   Using your credit card and taking advantage of credit card rewards can help with expenses, leaving you more for discretionary spending.

•   Columbus has walkable sections and an excellent public transportation system (more on that below). However, if you are looking to zip around from one end of the city to another, you may want to look into renting a car and add the amount needed to the goal you are saving in your travel fund.

Recommended: Where to Find “Book Now, Pay Later” Travel

10 Things You Must Do in Columbus, Ohio

Columbus truly is an exciting, diverse city — and so, when you visit for the first time, it just makes sense to enjoy that variety: art, music, science, nature, history, sports, architecture, shopping, and good eats. Then, when you return, you can explore the kinds of places you appreciated in more depth.

Here are 10 of the best things to do in Columbus, culled from top-rated online reviews and in-the-know travelers.

1. Tour Franklin Park Conservatory and Botanical Gardens

Stroll through 13 acres of lush gardens, exotic plant life, and seasonal beauty while also viewing art exhibits and cultural presentations. Attend a class — whether arts and crafts, culinary, gardening and so forth — and visit the iconic 1895 John F. Wolfe Palm House. fpconservatory.org

2. Revel in Some Art

To soak in more beauty, visit the Columbus Museum of Art, which focuses on outstanding American and European works of art from the late 19th and early 20th centuries: paintings, photography, folk art, glassworks, and more. Frequently changed special exhibits ensure that each visit can be fresh and interesting. columbusmuseum.org/

3. Explore German Village

This is a unique neighborhood where German settlers arrived in the mid-1800s, and it’s now one of the country’s largest privately funded historic districts. Homes from the 1840s to 1890s are preserved — not recreated — and visitors today can stroll through the neighborhood, appreciating the architecture and shopping and dining. germanvillage.com

4. Visit Capitol Square

Another fun thing to do in Columbus is to see its seat of power. Located just eight blocks from the German Village, Capitol Square includes the Ohio Statehouse, Senate Building, and Atrium where public tours are offered. The stunning Statehouse is designed in the Greek Revival style, a popular choice in the early and mid-1800s because democracy was born in Ancient Greece. ohiostatehouse.org

5. Cheer on the Team at Ohio Stadium

Ohioans love their Ohio State Buckeyes football team with its 39 Big Ten Championships and eight National Championships. Getting tickets to a game wouldn’t be easy, but the stadium itself is a sight to see, the fourth largest on-campus football facility in the nation with a seating capacity of 102,780. Since opening day in 1922, more than 36 million people have watched games here: ohiostatebuckeyes.com/sports/m-footbl/facilities/ohio-stadium/

6. Shop Til You Drop

Imagine more than 1.7 million square feet of shopping, dining, and entertainment venues with plenty of open air squares, parks, and fountain — and that’s Easton Town Center. This is one of the leading urban retail centers in the country with more than 30 million annual visitors and 200 retailers (including Gucci and Tiffany).eastontowncenter.com/

7. Be Surprised by Science

When thinking about things to do in Columbus, Ohio with kids, COSI Center of Science and Industry) jumps in front of mind. From skeletons of giant dinosaurs like T. Rex and pterosaurs to a planetarium that helps children and their families to explore space, COSI is full of engaging science exhibits and interactive experiences. The Big Science Park is perfect for play and the Little Kidspace is ideal for fun exploration.cosi.org/

8. Time-Travel at Ohio Village

Need another top 10 thing to do in Columbus, Ohio? Step back in time to see what village life in Ohio was like in the 19th century, watching artisans demonstrate old-fashioned skills. You can also tour period homes and other building, try circa-1800s activities yourself (which are also fun things to do in Columbus with kids), and perhaps watch a game of “base ball” using rules of the era, ohiohistory.org/visit/ohio-village/

9. Indulge in the Arts

This state-of-the-art center offers culturally diverse performances and provides art education in a 1928 building that was created and managed solely by African Americans. Jazz fans: This is a landmark location for this stellar form of music while also serving as a modern center for multiethnic and multigeneration arts. lincolntheatrecolumbus.com

Enjoy the Riverfront

When looking for free things to do in Columbus, Ohio, no trip is complete without a stop at the Scioto Mile. More than 175 acres of gorgeous parkland stretches along the riverfront in the heart of downtown Columbus. Besides being an ideal place to walk and bike, you can enjoy urban festivals, listen to outdoor music, and much more. If you’re traveling with a pet, this can be a terrific place to spend an afternoon. sciotomile.com/

Advice on Getting Around

Many of these fun things to do in Columbus, Ohio are located in or near downtown, but this is a large, sprawling city of more than 225 miles in size — the biggest city in Ohio. So, when planning your trip, map out where you’re going to ensure that you’ll spend less time traveling from one spot to another and more time enjoying the sights. Although most attractions are open year round, check to ensure the ones you want stay open through the winter.

Although individual areas and neighborhoods—such as German Village, Ohio Village, Franklin Park Conservatory and Botanical Gardens, and the Scioto Mile are all quite walkable, getting from one section of the city to the next requires transportation. Fortunately, the Central Ohio Transit Authority (COTA) provides bus service; in 2018 and 2020, COTA received the American Public Transportation Association’s Outstanding Public Transportation System Achievement Award. cota.com/

The Takeaway

The best things to do in Columbus, Ohio will depend on your taste, interests, available time, and budget — but one thing is for sure: This vibrant city is filled with places to visit and activities to enjoy. Our list of the 10 best things to do in Columbus, Ohio is a great starting point, and then you can branch out from there. From museums to parks to historical sites and excellent shopping, this city has something (or more) for everyone.

SoFi Travel is a new service exclusively for SoFi members. Through a partnership with Expedia, we make it easy to find the lowest rates and book your reservations — for flights, hotel rooms, car rentals, and more — all in one place. Earn 2x rewards when booking with your SoFi Mastercard or debit card. And when you redeem your SoFi rewards for travel, you get a 25% bonus: $100 of reward points are worth $125.

Wherever you’re going, get there with SoFi Travel.

FAQ

Is Columbus a walkable city?

Plenty of neighborhoods and venues are quite walkable and, whenever that isn’t practical, the city has an award-winning public transportation system. Some of the best free things to do in Columbus, Ohio, include parks and gardens, each of which is walkable for most people.

What food is Columbus, Ohio, famous for?

Foods include the Columbus-style pizza with thin crusts with toppings right up to the edge, then cut into squares. Buckeye candy — peanut butter and chocolate in a buckeye shape — are in demand. So is the peanut butter and chocolate doughnut from Buckeye Donuts.

Is Columbus, Ohio a fun city?

With its hipster-urban vibe and a plethora of fun things to do, the answer is “yes”!

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¹See Rewards Details at SoFi.com/card/rewards.

**Terms, and conditions apply: The SoFi Travel Portal is operated by Expedia. To learn more about Expedia, click https://www.expediagroup.com/home/default.aspx.
When you use your SoFi Credit Card to make a purchase on the SoFi Travel Portal, you will earn a number of SoFi Member Rewards points equal to 3% of the total amount you spend on the SoFi Travel Portal. Members can save up to 10% or more on eligible bookings.
Eligibility: You must be a SoFi registered user.
You must agree to SoFi’s privacy consent agreement.
You must book the travel on SoFi’s Travel Portal reached directly through a link on the SoFi website or mobile application. Travel booked directly on Expedia's website or app, or any other site operated or powered by Expedia is not eligible.
You must pay using your SoFi Credit Card.
SoFi Member Rewards: All terms applicable to the use of SoFi Member Rewards apply. To learn more please see: https://www.sofi.com/rewards/ and Terms applicable to Member Rewards.
Additional Terms: Changes to your bookings will affect the Rewards balance for the purchase. Any canceled bookings or fraud will cause Rewards to be rescinded. Rewards can be delayed by up to 7 business days after a transaction posts on Members’ SoFi Credit Card ledger. SoFi reserves the right to withhold Rewards points for suspected fraud, misuse, or suspicious activities.
©2023 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender. NMLS #696891 (Member FDIC), (www.nmlsconsumeraccess.org).

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

SoFi cardholders earn 2% unlimited cash back rewards when redeemed to save, invest, a statement credit, or pay down eligible SoFi debt.

The SoFi Credit Card is issued by SoFi Bank, N.A. pursuant to license by Mastercard® International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

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New York City is one of America’s most iconic locations. With landmarks like the Statue of Liberty and the Empire State Building, the energy of Broadway, and the allure of world-class museums and shopping, there’s plenty to experience. Whether you’re planning to visit for a few days or a few weeks, you probably want to make sure you see as many cool things as possible when in town.

That’s where this list can help. You’ll find 10 cool things to do in New York City, plus smart advice on making your trip as affordable and enjoyable as possible. This list, culled from travelers’ reviews, guides, and native New Yorkers, will help you have a magical time in this exciting town.

Best Times to Go to New York City

Many people feel that spring and fall are the best times to go to New York City. The weather is mild, so you can easily toggle between indoor and outdoor activities. November through December time is also a popular time to visit New York. There are many holiday events and decorations to see, like the giant Christmas tree at Rockefeller Center or the Radio City Christmas Spectacular starring the Rockettes, as well as winter markets at various parks where you can find great gift items while drinking hot cocoa.

Bad Times to Go to New York City

Summer travel to New York City is popular, so you’re more likely to find crowds. Factor in the possibility of high heat and humidity, and perhaps you may want to think twice if that doesn’t appeal and your schedule allows for flexibility.

Winter (after the holidays, that is) is a time that many people avoid New York City. Yes, it can be cold, but there’s a silver lining. If you’re looking for how to save money on hotels while in NYC, the best time to go would be between January through March. There will be fewer people vying for hotel rooms, so rates are likely to be lower. You can still get your fill of great restaurants, shopping, shows, and museums.

Average Cost of a New York City Vacation

If you’re visiting New York City for the first time, you’ll probably want to stay in Manhattan versus in one of the other boroughs, to be closer to most of the celebrated attractions. However, Manhattan can be expensive, so if you’re looking to save money, you could also look at staying in another borough, like Brooklyn, which is becoming a destination in its own right.

Hotel prices will also vary a lot within Manhattan based on your location, date of visit, and quality of hotel. You can find hotels for anywhere from $150 to $550 per night in Manhattan.

When budgeting for a trip to New York City, don’t forget to include things like:
Food, whether that’s an omakase menu at a Japanese place or a pretzel from a street vendor, plus drinks
Entertainment. Perhaps you’ll see a Broadway show, visit museums, or stop by a comedy club. Factor those in.
Transportation. New York City is a very walkable town, but distances can be significant. Make sure you have funds for taxis, Ubers, and bus and subway rides. Don’t overlook the city’s ferry system either; you can get great skyline views traveling by boat.

Recommended: What Is an Airline Credit Card?

A Few Notes on Financing Your Trip

A New York trip can be pricey, so heed this advice:

•   When planning your New York City vacation, be wary of “book now, pay later” travel options. Those can lead you to rack up significant debt. To save money on interest, you should try to save up for at least some of your expenses ahead of time.

•   Make sure to do your research on where to keep a travel fund. An interest-bearing savings account can earn you some extra cash towards your trip.

•   If you’re thinking about booking a trip to New York City (or anywhere, actually), look into travel insurance. You could get sick right before your departure, your luggage could get lost, and other unforeseen circumstances could crop up. If you pay for your trip with certain credit cards, they may provide travel insurance for certain situations. You should understand how credit card travel insurance works when deciding whether to purchase private travel insurance.

10 Fun Must-Dos in New York City

If you’re planning a trip, it can be difficult to narrow the list down to only 10 top things to do in New York. Here are cool highlights mostly for a tourist who is new to New York City, but there are some things on the list that you may not have been to before even if it’s not your first visit. Most attractions and events are in Manhattan, since that’s where most tourists stay. However, you will see a few options in other boroughs. Also, New York City can be expensive, so note the free activities and sites included in the list.

A couple of quick notes:

•   New York City is one of the most pedestrian-friendly cities in the United States, so you likely won’t need to think about renting a car. You can visit most sites and attractions by walking or taking the subway or a taxi.

•   You’ll find that NYC can also be a great city if you’re traveling with pets. You can walk your dog in Central Park or down any sidewalk without issues.

The following are recommendations for the top 10 fun things to do while visiting New York City.

1. Explore Central Park

Central Park is one of the most famous parks in America. It offers much-needed green space to the city, with a zoo, playgrounds, fountains, monuments, bridges, sculptures, walking/running paths, a boat pond and boathouse, an ice-skating/roller-skating rink, and more. Plus, there are many events, concerts, and activities that happen year-round in Central Park. Central Park is free, and is open from 6 am to 1 am.

2. See the Skyscrapers

Skyscrapers are part of what makes New York City so famous. The Empire State Building was considered the world’s tallest building when it opened in 1932. It’s no longer the tallest, but it’s still a world-famous attraction. Located in midtown Manhattan, it’s been seen in countless movies and TV shows. And from that high up, you get an incredible view of this iconic city.

Ticket prices for this attraction can be pricey. Visiting the main 86th-floor open-air observatory cost $38 to $44. You can also get a ticket that will also allow you to go all the way up to the 102nd floor observation deck for $73 to $79. One way to make the price feel a bit less steep: Get cash back when you charge your tickets thanks to credit card rewards. esbnyc.com/

Other places to take in a great view: The Edge NYC (edgenyc.com/en) at Hudson Yards, Summit One Vanderbilt (summitov.com/) in Midtown, and One World Observatory (oneworldobservatory.com/) downtown.

3. Scoot over to the Statue of Liberty

The Statue of Liberty, all 305 feet of it, is a copper-clad neoclassical statue that is perhaps one of the most iconic symbols of freedom and welcome in the world. You can visit the Statue of Liberty on Liberty Island by taking a ferry from Battery Park in Lower Manhattan. Plan on devoting several hours to exploring this celebrated artwork.

Tickets cost $19 to $31.50 and include a round-trip ferry ride, access to the grounds of the Statue of Liberty on Liberty Island, the Statue of Liberty Museum, and the Ellis Island Immigration Museum on Ellis Island. If you want to go inside the monument, you’ll have to purchase a ticket that includes “Pedestal Access.” These tickets cost $25.30 to $31.80. nps.gov/stli/planyourvisit/fees.htm

You can also view the Statue of Liberty for free from The Battery.

4. Discover the Heart of Midtown Manhattan

Architecture fans will delight in Rockefeller Center, a fantastic collection of Art Deco buildings in Midtown Manhattan with a plaza, a skating rink, sculptures, NBC Studios, stores, and restaurants. If you ever watched 30 Rock or the tree get lit during the holiday season, you are probably familiar with it. It can be a fun place to explore or simply grab some coffee and do some window-shopping.

You can get tickets for a tour of Rockefeller Center ($27) or to go to the Top of the Rock Observation Deck ($34 to $40). Nearby is the famous St. Patrick’s Cathedral, Saks Fifth Avenue’s original store, and Bryant Park. rockefellercenter.com/

5. Visit the National September 11 Memorial and Museum

The National September 11 Memorial and Museum honors the victims of the September 11, 2001 terrorist attacks. The memorial features twin reflecting pools where the World Trade Center’s twin towers once stood. The museum includes poignant multimedia displays, artifacts, and real recordings from the day, giving visitors a chance to contemplate the tragic events and remember the losses endured.

The museum is open Wednesdays through Mondays from 9 am to 7 pm. Tickets to the museum cost $17 to $29, and tours are available. 911memorial.org/

6. Stroll Along the High Line

Here’s another of the best things to do in New York: Walk the High Line, a 1.5-mile pedestrian walkway and park that’s been constructed along an abandoned elevated rail track. It’s now beautifully landscaped with lush, naturalistic plantings, and you’ll also see artworks on display as you stroll along. In addition, you’ll pass through several Manhattan neighborhoods, winding from Hudson Yards through Chelsea to the Meatpacking District, above the traffic. The High Line, which is open from 7am to 10pm, is free to enter, which can help be a way for families to afford to travel. thehighline.org/visit/

It can be a fun detour to descend from the High Line in Chelsea and visit some of the art galleries that the neighborhood is known for. Or, at the southern end of the High Line, take a brief walk to Little Island, a new public park that’s actually in the Hudson River (littleisland.org/).

7. Be Amazed at the Metropolitan Museum of Art

The Metropolitan Museum of Art (also known as “the Met”) is a vast trove of masterpieces from around the world. Whether you’d like to see some Tiffany stained glass, Dutch landscapes, Medieval armor, or ancient sculptures, you’ll find it at the Met. You may not be able to see everything in one day, but even if you only have a couple of hours free, it’s worth a visit. It’s located on the Upper East Side, at the edge of Central Park, and its grand front steps are where many locals and tourists alike enjoy sitting in good weather.

Tickets to the Met cost $17 to $30; kids under age 12 are free. If you’re a resident of New York State or are a student in New York, New Jersey, or Connecticut, you have the option to “pay what you wish” for your tickets. The museum is open from 10 am to 5 pm, except for Wednesdays and a few holidays. metmuseum.org/

Recommended: Credit Card Miles vs. Cash Back

8. See a Broadway Show

Some would say a trip to New York City is not complete without seeing a Broadway show. Whether that means a long-running hit, like The Lion King, Hamilton, or Chicago, or something brand new, the excitement of live theater makes for a signature NYC experience. Broadway is located near Times Square and houses theaters with many plays and musicals. Shows rotate, and ticket prices vary drastically depending on the show, day, and seat. broadway.com/

There are dozens of great restaurants nearby that cater to the pre-theater crowds and will get you in and out on time for your curtain. Picking where you want to eat can be a fun challenge, and a great way to enjoy dinner and a show.

9. Get Acquainted with a Big City Garden

Although not located in Manhattan, the Brooklyn Botanic Garden is an expansive and beautiful park with unique plants, conservatories, and events. There are 13 gardens within the Brooklyn Botanic Garden, including the Japanese Hill and Pond Garden with cherry blossoms that peak during April of each year, as well as a Shakespeare Garden.

Tickets cost $12 to $18. The Garden is closed on Mondays, and hours vary depending on the time of year, so check the website before going. bbg.org/visit

Or head to the Bronx and visit the New York Botanical Garden. It has a magnificent Victorian-style conservatory, forests, a gorge, and flowers (including an award-winning rose garden) on 250 acres, making it America’s largest city garden. Admission for adults is $35 for an all-garden pass, including a tram tour; the garden is typically open from 10 am to 6 pm, except on Mondays. nybg.org/visit/admission/

10. Find a Food Hall

Of course, you’ll eat well while in NYC. One fun way to get a taste of city life is to visit one of Manhattan’s fun spaces full of food stalls. These range from the Tin Building (everything from egg sandwiches to caviar) downtown by South Street Seaport, Essex Market (bagels, kebabs, Peruvian fare, and more) on the Lower East Side, Chelsea Market (from crepes to tacos) in the Chelsea neighborhood, UrbanSpace NYC (multiple locations with dumplings, pizza, ramen, among other delights), and Midtown’s Urban Hawker, with Singaporean food.

The Takeaway

New York City is a travel destination that few people can resist. This high-energy city has something to offer almost anyone, whether you’re interested in shows, shopping, food, art, or (surprise!) parks and gardens. If it’s your first visit or your seventh, you’ll find dozens of fun things to do in New York City that can make for an incredibly memorable trip.

SoFi Travel is a new service exclusively for SoFi members. Through a partnership with Expedia, we make it easy to find the lowest rates and book your reservations — for flights, hotel rooms, car rentals, and more — all in one place. Earn 2x rewards when booking with your SoFi Mastercard or debit card. And when you redeem your SoFi rewards for travel, you get a 25% bonus: $100 of reward points are worth $125.

Wherever you’re going, get there with SoFi Travel.

FAQ

What free things can I do in New York?

There are plenty of free things to do in New York. In addition to special free events, you can walk on the High Line, check out Times Square, or take a walk through Central Park.

What should I do on my first trip to New York?

If you have never been to New York City before, seeing such iconic sites as Central Park, the Empire State Building, and the Statue of Liberty can be worthwhile.

What are some things to do in New York when you’ve been before?

If you have been to New York City before, you may have visited the major tourist sites already. Some lesser-known things to do in New York include visiting the Brooklyn Botanic Garden or New York Botanical Garden, taking a food tour, riding the Roosevelt Island Aerial Tram, and checking out Queens Museum. You might also explore Williamsburg, a popular Brooklyn neighborhood, or walk across the Brooklyn Bridge.

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Photo credit: iStock/bloodua

¹See Rewards Details at SoFi.com/card/rewards.

**Terms, and conditions apply: The SoFi Travel Portal is operated by Expedia. To learn more about Expedia, click https://www.expediagroup.com/home/default.aspx.
When you use your SoFi Credit Card to make a purchase on the SoFi Travel Portal, you will earn a number of SoFi Member Rewards points equal to 3% of the total amount you spend on the SoFi Travel Portal. Members can save up to 10% or more on eligible bookings.
Eligibility: You must be a SoFi registered user.
You must agree to SoFi’s privacy consent agreement.
You must book the travel on SoFi’s Travel Portal reached directly through a link on the SoFi website or mobile application. Travel booked directly on Expedia's website or app, or any other site operated or powered by Expedia is not eligible.
You must pay using your SoFi Credit Card.
SoFi Member Rewards: All terms applicable to the use of SoFi Member Rewards apply. To learn more please see: https://www.sofi.com/rewards/ and Terms applicable to Member Rewards.
Additional Terms: Changes to your bookings will affect the Rewards balance for the purchase. Any canceled bookings or fraud will cause Rewards to be rescinded. Rewards can be delayed by up to 7 business days after a transaction posts on Members’ SoFi Credit Card ledger. SoFi reserves the right to withhold Rewards points for suspected fraud, misuse, or suspicious activities.
©2023 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender. NMLS #696891 (Member FDIC), (www.nmlsconsumeraccess.org).

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

SoFi cardholders earn 2% unlimited cash back rewards when redeemed to save, invest, a statement credit, or pay down eligible SoFi debt.

The SoFi Credit Card is issued by SoFi Bank, N.A. pursuant to license by Mastercard® International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

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While it is possible to buy a second home without a down payment, the scenarios where you can do so are quite rare.

Traditional zero-down payment programs may not be available to you because you’re no longer a first-time homebuyer. Lenders are also hesitant to offer second home mortgages with low down payments. The down payment requirements for a second home are usually 10% or more.

But you may be in luck: Sometimes you can figure out how to buy a second home with no down payment. Read on to learn:

•   What does buying a second home involve?

•   What are the usual down payment requirements for a second home?

•   How can you buy a second home with no down payment?

What to Know About Buying a Second Home

Buying a second home comes with a different set of guidelines and rules than purchasing your first home. You’re no longer considered a first-time homebuyer, which disqualifies you from many down payment assistance programs. However, your situation will be treated differently depending on how you want to use the property. Consider the following possibilities:

Moving into the Second Home

If your plan is to keep your first home as a rental property and move into the second home, you may have some options. A low interest mortgage loan may be available in one of two ways.

•   USDA loans in approved areas have zero down payment options. You’re allowed to get a second home with a zero-down USDA loan if you meet certain requirements involving citizenship, income, and other factors. You must live in the property as your principal residence, and you cannot have a USDA loan on your first property. In addition, you must financially qualify for both homes. To count rental income for the first home, USDA requires 24 months of rental income history.

Other qualifiers for this kind of loan include:

•   The current home no longer meets your needs for certain reasons (for example, if your family is growing and you live in a two-bedroom home, you’re relocating for a new job, or you’re getting divorced).

•   You don’t have another way to obtain the property without the USDA loan.

•   You can only keep one other house besides the new second home.

If, say, you’re moving from to a new region for a job opportunity and USDA loans are available in the area you’re moving to, it’s possible to keep your first home and buy a second if you meet the above conditions.

Worth noting: An obstacle for borrowers can be that lenders need a way to verify rental income. A signed lease and bank statements may not be enough. Your lender may want to see the rental income reported on your taxes for two years to count.

•   VA Loans may also offer zero down payment options. Available to veterans, service members, and surviving spouses, these government-backed loans can only be used to purchase property that will be a primary residence. So, if you’re moving from one place to another and qualify, you can use a VA loan to purchase the next property with no money down.

Buying the Second Home as a Vacation Home or Rental

Is there a way to buy a second home with no down payment if you plan to use it as a vacation home or rental? Options are few and far between if you’re not planning to use the property as your principal residence. When you’re looking at non-owner-occupied financing, lenders usually want a bigger down payment, not a smaller one.

That said, here are a couple of options that could answer the question of how to buy a second home with no down payment:

•   Private loans: If you finance through a relative or other private source, it’s possible to obtain a no-money-down mortgage. Terms are agreed upon by both parties.

•   Seller financing: Much like a private loan, the conditions of seller financing (aka owner financing) a loan are whatever the two parties agree on. If the seller is willing to let you buy the property with no money down, you might be able to make this work. However, seller financing usually comes with a bigger down payment, not a smaller one.

Do You Need a Down Payment on a Second Home?

Down payment requirements for a second home are usually higher. Lenders also look for a higher credit score. The loftier down payment requirement and credit score reflect the fact that the lender is taking on elevated risk since borrowers are more likely to default on a second home than a first home. A lender may expect your down payment to be right around the average down payment on a house, which is currently 13%.

Yet, your mortgage lender is also looking for a loan that accommodates your unique situation to help you to buy a second home. Though no down payment options are rare, your lender may have access to financial products that allow for a smaller down payment.

Can You Buy Another Home When You Have a Current Mortgage?

If you financially qualify, buying another house when you have a mortgage is possible. Generally speaking, lenders look for a strong credit history and enough income to cover your debts (including the cost of the new mortgage) to determine if you qualify for an additional mortgage.

Recommended: What Is a Second Mortgage?

Using Home Equity as a Down Payment Source

If you don’t have enough cash for a down payment on a second home, you may be able to tap your home equity. A home equity loan or a home equity line of credit (HELOC) can help you access money to use for a down payment on a second home.

Though not all lenders will permit this, using home equity may be possible if you want to keep your first home and have no other way of obtaining enough money for a down payment on your second.

It may be advisable to get a home equity loan or HELOC while you are still living in your first house. This allows you to qualify for owner-occupant rates, which are typically much lower than non-owner-occupied rates.

Recommended: HELOC vs. Home Equity Loan: How They Compare

The Takeaway

While there aren’t many options for financing a second home with no down payment, you may be in luck. There are some no down payment loans available to qualified buyers, and these loans can help you preserve cash for renovations, improvements, and other expenses. Even if you can’t find a no down payment mortgage for a second home, you will likely have a number of financing options you can tap into that may allow you to snag another property.

When you’re thinking about home financing options, whether for a mortgage or a HELOC, you’ll want a flexible, helpful partner to help you through the process. SoFi can do just that. In addition to mortgage loans, we offer a home equity line of credit that can help you tap into your home’s value and use the funds for a variety of purposes. You can access up to 95% of your home’s equity up to $500,000, enjoy low interest rates, and have a dedicated SoFi Mortgage Loan Officer to guide you.

Unlock your home’s value with a home equity loan brokered by SoFi today.

FAQ

What is the minimum down payment for a second home?

For a second that is not going to be your primary residence, most lenders look for at least a 10% down payment.

How do I buy a second home without 20% down?

With a higher credit score and other financial qualifications, you may be able to find a lender or a program with a required down payment less than 20%.

Can I buy another house if I already have a mortgage?

If you’re a qualified buyer with good debt and income levels with a strong credit history, a lender may be able to approve you for a second mortgage.

Can I use my equity to buy another house?

It may be possible to use home equity to buy another home. Contact a lender to go over your unique situation.

Photo credit: iStock/Nuttawan Jayawan

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SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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