Best Affordable Places to Live in Pennsylvania in 2025
Best Affordable Places to Live in Pennsylvania in 2025
(Last Updated – 02/2025)
Pennsylvania has open spaces, big cities, mountains, farmland, you name it. With such a diverse landscape to choose from, there’s something to suit almost everyone’s taste. There’s also plenty to do in Pennsylvania year-round, including sports, hiking, water activities, dining, entertainment, and cultural places and events. But which town should you make your headquarters? Check out this list.
Best Places to Live in Pennsylvania
Here’s another perk of Pennsylvania: According to the MERIC Index, which ranks the cost of living by state, Pennsylvania is less expensive overall than any other Northeastern state. Wondering where you can get the most of what the Keystone State has to offer — and at the most affordable cost? Whether you hope to settle in a big city, a suburb, a farm town, or a college town, you should be able to find something that fits your needs. Here are some of the best places to live in Pennsylvania.
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Best Affordable Places to Live in Pennsylvania
While the cost of living in Pennsylvania is about 5% below the national average, housing costs are lower still. On the whole, Pennsylvania has a lot to offer those who are thinking about moving there. These three towns stand out for affordability.
1. Harrisburg
Photo credit: iStock/Ultima_Gaina
The state capital, Harrisburg offers plenty to do no matter what you’re into. It’s a short drive to several popular tourist attractions, including Amish country, Gettysburg, and Hersheypark. Or you can stay in the city and enjoy local concerts, art exhibitions, restaurants, the theater, and more. Though the overall cost of living in Harrisburg is a little higher than the cost of living in the U.S., the city’s home and rent prices are relatively manageable.
Population: 50,012
Median Household Income: $47,783
Cost of Living: 91% of U.S. average
Average Rent Price: $1,345
Home Price-to-Income Ratio: 5.0
2. York
Photo credit: iStock/ChrisBoswell
If you like a place with history, including Colonial-era homes and buildings, you’ll definitely want to check out all that York has to offer. You’ll also find plenty of modern-day features, including trendy shops, modern apartments, and a thriving arts scene. For newbie homebuyers, there are first-time homebuyer programs in Pennsylvania that may help with a down payment and/or closing costs.
Population: 44,867
Median Household Income: $47,115
Cost of Living: 94% of U.S. average
Average Rent Price: $1,200
Home Price-to-Income Ratio: 5.4
3. Scranton
Photo credit: iStock/Alex Potemkin
If you’re looking for a bigger city with a small-town feel, Scranton might be a good bet. There’s a sense of neighborhood here, along with a dynamic downtown. And the cost of living is lower than many other cities in the Northeast, so you may be able to get more house for your money.
Population: 75,805
Median Household Income: $49,531
Cost of Living: 90% of U.S. average
Average Rent Price: $1,350
Home Price-to-Income Ratio: 3.7
Recommended: Mortgage Prequalification vs. Preapproval
Best Places to Live in Pennsylvania for Families
Families will find a lot to like in the Keystone State, including family-friendly activities and affordable prices. And in one of these more affordable spots, it may be easier to qualify for a mortgage because the home prices will suit a family’s budget.
Here are some of the best places to live in Pennsylvania for families.
1. Bethlehem
Photo credit: iStock/Alex Potemkin
Nicknamed Christmas City, Bethlehem takes holiday fun seriously, with a parade, Christmas market, and more. But the city keeps it family-friendly year-round, with Musikfest in the summer and Oktoberfest in the fall. As you house shop in Bethlehem (or anyplace), the resources in a home loan help center could be helpful in your search.
Population: 78,300
Median Household Income: $66,443
Cost of Living: 96% of U.S. average
Average Rent Price: $1,828
Home Price-to-Income Ratio: 4.9
2. State College
Photo credit: iStock/benedek
Sometimes referred to as Happy Valley, State College is known for its walkability, its charming downtown, and, of course, as the home of Penn State University. Kids can enjoy activities that include an outdoor movie series and a children’s garden. Plus, the city is more affordable than many other family-friendly communities in the state.
Population: 40,687
Median Household Income: $47,132
Cost of Living: 100% of U.S. average
Average Rent Price: $1,750
Home Price-to-Income Ratio: 8.2
3. Ardmore
Photo credit: Flickr/Douglas Muth , Creative Commons Attribution-ShareAlike 2.0 Generic
This suburb of Philadelphia has plenty of indoor and outdoor places for children to play, kid-friendly restaurants, and a festival for every season and reason, including the Zucchini 500, during which youngsters can build their own race cars from fruits and veggies. There’s a vintage market for Mom and Dad, too, and the town is just a short commute to Philly.
Population: 14,165
Median Household Income: $115,273
Cost of Living: 115% of U.S. average
Average Rent Price: $2,490
Home Price-to-Income Ratio: 4.1
💡 Quick Tip: Lowering your monthly payments with a mortgage refinance from SoFi can help you find money to pay down other debt, build your rainy-day fund, or put more into your 401(k).
Best Places to Live in Pennsylvania for Young Adults
Young people have plenty of vibrant cities and towns to choose from across the Keystone State. Here are the best places to live in Pennsylvania for young adults.
1. Pittsburgh
Photo credit: iStock/pawel.gaul
If you’re a sports fan, you already know Pittsburgh has pro baseball, football, hockey, and soccer teams, plus college sports. But this energetic city also offers festivals, concerts, museums, and a dynamic dining scene. And there are plenty of green spaces and parks to be active. It’s also one of the better places on the list to go house-hunting, with a home price-to-income ratio under 4.
Population: 303,255
Median Household Income: $64,137
Cost of Living: 103% of U.S. average
Average Rent Price: $1,495
Home Price-to-Income Ratio: 3.5
2. Reading
Photo credit: iStock/Cwieders
Reading is close to Philadelphia, and also to Amish country. It has great outdoor spaces, and also some good museums. And if you’re a sports fan, you can cheer for the Reading Fightin’ Phils (an affiliate of the Philadelphia Phillies) or the Reading Royals (an affiliate of the Philadelphia Flyers). The pace is a little slower and more relaxed here. Going through the mortgage preapproval process could give buyers a leg up if and when it’s time to put an offer on a home.
Population: 94,903
Median Household Income: $45,599
Cost of Living: 97% of U.S. average
Average Rent Price: $1,350
Home Price-to-Income Ratio: 5.3
3. Altoona
Photo credit: Flickr/Joseph , Creative Commons Attribution-NonCommercial-ShareAlike 2.0 Generic
Looking for an up-and-coming city? Altoona may be worth checking out for young adults searching for an affordable community where they could rent or buy. The city is home to a Pittsburgh Pirates affiliate and has its own symphony orchestra and theater, so there are some fun things to do. There are also plenty of restaurants and some breweries. Prospective buyers can look into different types of mortgage loans to see the various options they have.
Population: 42,788
Median Household Income: $50,171
Cost of Living: 88% of U.S. average
Average Rent Price: $1,100
Home Price-to-Income Ratio: 2.7
Best Places to Live in Pennsylvania for Retirees
For those looking for a place to spend their golden years, Pennsylvania can be a fine choice. Housing is affordable and there are towns with plenty of activities and opportunities to meet people. Here are some of the best places to live in Pennsylvania for retirees.
1. Hershey
Photo credit: Flickr/Jon Dawson , Creative Commons Attribution-NoDerivs 2.0 Generic
You may think of Hershey as strictly a tourist town, but there’s more to it than the smell of chocolate in the air. Hershey is known for good medical care and its carefully planned (by Milton Hershey himself) small-town charm. Plus, with Hersheypark right there, you’ve got a built-in place to take the grandkids!
Population: 14,334
Median Household Income: $78,750
Cost of Living: 96% of U.S. average
Average Rent Price: $1,800
Home Price-to-Income Ratio: 4.8
2. Bridgeville
This small Pittsburgh suburb has a range of activities to offer retirees, from golf and horseback riding to antiquing and hunting for flea market finds. There are also a number of retirement communities and senior living facilities to choose from in Bridgeville.
Population: 4,737
Median Household Income: $60,156
Cost of U.S. living: 98% of U.S. average
Average Rent Price: $1,200
Home Price-to-Income Ratio: 4.7
3. Pittsburgh
Photo credit: iStock/pawel.gaul
Pennsylvania’s second-largest city makes another appearance on this list as a smart place to retire. It has plenty of cultural attractions, such as the Carnegie Museum and Andy Warhol Museum, as well as beautiful parks. The University of Pittsburgh Medical Center offers first-rate health care. The overall cost of living here is moderate, and depending on where you locate in the city, you may find it possible to walk to shops and restaurants with ease.
Population: 303,255
Median Household Income: $64,137
Cost of Living: 103% of U.S. average
Average Rent Price: $1,495
Home Price-to-Income Ratio: 3.5
Recommended: Best States to Retire in for Tax Purposes
Best Places to Live in Pennsylvania Near the Water
Looking for a house by a lake or river? Check out these places in Pennsylvania to make a splash.
1. Erie
Photo credit: iStock/Sean Pavone
If you dream of retiring somewhere with great scenery and a water view, and you don’t mind a few months of frigid temps, Erie could be worth considering. True to its name, the city sits on the south shore of Lake Erie, which means it’s beautiful, breezy, and in the winter, sometimes very, very cold.
Population: 92,957
Median Household Income: $43,397
Cost of Living: 88% of U.S. average
Average Rent Price: $1,200
Home Price-to-Income Ratio: 4.2
2. Warren
Photo credit: iStock/Althom
Be sure to bring your bike, kayak, and hiking boots if you plan to move to Warren. You’ll want to take full advantage of its proximity to the Allegheny River and Allegheny National Forest and all it has to offer. Once you dry off, you can enjoy the local brewery, theater, and antique stores.
Population: 9,125
Median Household Income: $50,877
Cost of Living: 94% of U.S. average
Average Rent Price: $850
Home Price-to-Income Ratio: 2.7
3. Oil City
Photo credit: Flickr/Joseph , Creative Commons Attribution-NonCommercial-ShareAlike 2.0 Generic
Situated in the northwestern part of the state on the Allegheny River, Oil City offers picturesque water views and a variety of activities for residents. The thriving business district includes a farmers market and shops and galleries, and the city hosts concerts and festivals year-round.
Population: 9,374
Median Household Income: $52,688
Cost of Living:97% of U.S. average
Average Rent Price: $950
Home Price-to-Income Ratio: 1.7
The Takeaway
If you like the idea of living in the Northeast, Pennsylvania could make a great home base for you. Whether you’re looking for a family-friendly town, a vibrant big city, or a mid-sized community near the water, you’ll find that Pennsylvania has plenty of places to suit your lifestyle. Home prices can vary significantly, but there are many affordable towns to choose from.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.
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FAQ
Where is the best and cheapest place to live in Pennsylvania?
Many areas in Pennsylvania offer very affordable home and rent prices. Harrisburg, Scranton, Altoona, and Erie are among the places that have the lowest cost of living.
Where is the best place to live near Pennsylvania?
Everybody has their own idea of what makes a place “best,” but Binghamton, New York, which is just north of the Pennsylvania state line, can be a good place to live if you want to live near Pennsylvania.
What city in Pennsylvania has the lowest property taxes?
Snyder County in the middle part of the state has the lowest property taxes. Overall, Pennsylvania’s property tax rates are higher than national averages and can range from 0.83% to 2.05%.
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Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
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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Massachusetts: Best Affordable Places to Live
Best Affordable Places to Live in Massachusetts in 2025
By Rebecca Lake
(Last Updated – 02/2025)
Massachusetts is rich in history, packed with beautiful scenery, and offers some of the best healthcare options in the nation. It’s family-friendly but attracts plenty of students and job seekers, as well as its fair share of retirees.
It also happens to be one of the priciest states to call home, thanks to its elevated cost of living. Nationwide, only Hawaii is more expensive.
If you’re contemplating a move to the Bay State, it helps to know which areas are more affordable. Here’s a closer look at the best places to live in Massachusetts when saving money is a priority.
Best Places to Live in Massachusetts
Finding the best places in Massachusetts to live requires a little research. This list gives you a head start, sharing the best affordable places to live in Massachusetts for families, young adults, young professionals, and retirees. Each city included in these rankings was evaluated based on these factors:
• Population
• Median household income
• Cost of living
• Median rent price
• Home price-to-income ratio
This guide includes larger metro areas as well as smaller cities. Dive in to see which locales made the list as the best places to live in Massachusetts.
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Best Affordable Places to Live in Massachusetts
The five cities listed below are among the most affordable overall. These cities are budget-friendly, and each one has something unique to make it an attractive choice for relocating. If you’re looking for the best place to live based on cost and you’re planning to buy a home, you may want to research some tips to qualify for a mortgage.
1. Leominster
Photo credit: iStock/DenisTangneyJr
Leominster is a suburban community of just over 40,000 people, located approximately 90 minutes from Boston. In terms of affordability, Leominster boasts a relatively low cost of living compared to other Massachusetts cities and features a family-friendly vibe. It’s much cheaper to buy in Leominster than many other Massachusetts towns, which could be ideal for first-time homebuyers. There’s plenty of variety, including single-family homes, condos, and townhouses.
Population: 43,627
Median Household Income: $81,556
Cost of Living: 114% of the U.S. average
Average Rent Price: $1,855
Home Price-to-Income Ratio: 5.4
2. Adams
Photo credit: iStock/DenisTangneyJr
Adams could be ideal for people who are seeking a small-town experience. In terms of its appeal beyond the low cost of living, Adams is family-friendly, with plenty of nature trails and outdoor spaces, though it also attracts its fair share of retirees.
Population: 5,584
Median Household Income: $48,750
Cost of Living: 109% of the U.S. average
Average Rent Price: $1,275
Home Price-to-Income Ratio: 5.0
3. Westfield
Photo credit: iStock/DenisTangneyJr
Westfield is located near the Springfield area. With a population around 40,000, it’s a bustling city. While Westfield is a bit further afield from Boston, there’s still plenty to do here for young families and the students who attend Westfield State University. The cost of living is slightly above the U.S. average but still lower than many other Massachusetts cities and towns.
Population: 40,509
Median Household Income: $82,847
Cost of Living: 107% of U.S. average
Average Rent Price: $1,700
Home Price-to-Income Ratio: 4.3
Recommended: Mortgage Prequalification vs. Preapproval: The Differences
Best Places to Live in Massachusetts for Families
Raising a family can influence your decision on where to move, as you’ll need to consider things like the local school system and kid-friendly activities, as well as income opportunities and the social scene for adults. Comparing different types of mortgage loans can help you plan your budget if you’re hoping to buy a home.
These cities are among the best places to live in Massachusetts if you’re looking for family-friendly options.
1. Springfield
Photo credit: iStock/Sean Pavone
Springfield is the largest city in the Western New England region and attracts plenty of young families, who are often drawn to its well-rated schools. Despite there being a seller’s market, housing is still highly affordable. The area’s median sale price at the end of 2024 was still less than $300,000.
Population: 153,672
Median Household Income: $51,339
Cost of Living: 110% of U.S. average
Average Rent Price: $1,695
Home Price-to-Income Ratio: 5.4
2. Stoneham
Photo credit: iStock/DenisTangneyJr
Stoneham is located just a few miles north of Boston and has earned a reputation for being one of the friendliest towns in Massachusetts. Families might choose to move here for its combination of good schools and convenient access to the city.
Population: 22,854
Median Household Income: $112,635
Cost of Living: 34% higher than the national average
Average Rent Price: $3,100
Home Price-to-Income Ratio: 6.7
3. Wayland
Photo credit: Wikimedia Commons/John Phelan , Creative Commons Attribution-ShareAlike 3.0 Unported
Families will appreciate the well-ranked schools here. This quiet bedroom community is one of the best places to live in Massachusetts for families in search of a pleasant environment in which to raise children. As a smaller town, it offers fewer amenities. However, it’s close to Boston, which is great for commuting or planning family outings on the weekend. Home prices here are on the high side, and some buyers will need to look into jumbo home loans when eyeing a pricier property.
Population: 13,752
Median Household Income: $221,250
Cost of Living: 138% of U.S. average
Average Rent Price: $3,374
Home Price-to-Income Ratio: 5.0
💡 Quick Tip: A major home purchase may mean a jumbo loan, but it doesn’t have to mean a jumbo down payment. Apply for a jumbo mortgage with SoFi, and you could put as little as 10% down.
Best Places to Live in Massachusetts for Young Adults
Jobs and entertainment tend to be key factors for young adults looking for a place to land in Massachusetts. They may flock to the Boston area to start their careers, but the surrounding suburbs can also attract plenty of up-and-coming professionals. These cities rate as the best places to live in Massachusetts for recent college grads and working young adults.
1. Wakefield
Photo credit: iStock/WestWindGraphics
Wakefield is a smaller suburb of Boston that’s home to a number of young professionals. The local crowd here is both highly educated and diverse. About a quarter of residents are between 20 and 39 years of age. If you are looking to purchase a home, you may want to explore first-time homebuyer programs in Massachusetts to potentially make the process easier and/or more affordable.
Population: 27,810
Median Household Income: $130,320
Cost of Living: 137% of U.S. average
Average Rent Price: $2,676
Home Price-to-Income Ratio: 5.9
2. Waltham
Photo credit: iStock/DenisTangneyJr
Waltham is located approximately 30 minutes from Boston and is a bustling suburban community for young professionals who want to stay close to the metro area. The population is young, with a median age of 35. There are plenty of jobs to be had with both larger and smaller companies. In addition, young professionals will find a variety of things to do after work hours and on weekends, including restaurants, clubs, and even a circus school where adventurous students can learn acrobatics. Understanding the mortgage preapproval process can help if you are preparing to start your hunt for a house.
Population: 64,477
Median Household Income: $116,560
Cost of Living: 142% of U.S. average
Average Rent Price: $3,000
Home Price-to-Income Ratio: 6.7
3. Malden
Photo credit: iStock/DenisTangneyJr
Malden is a diverse town and can be a good place for young adults to launch their careers. Job growth is a bit slower in Malden, but the fact that it’s less than 30 minutes from Boston makes it easier for residents to cast a wide net when seeking employment. Glow-in-the-dark mini golf and a craft brewery provide local entertainment. Of the various suburbs around Boston, Malden proves to be one of the most affordable for young professionals based on rent and housing prices.
Population: 65,133
Median Household Income: $95,298
Cost of Living: 139% of the U.S. average
Average Rent Price: $2,400
Home Price-to-Income Ratio: 6.7
Best Places to Live in Massachusetts for Retirees
Massachusetts could be a great place to retire from a tax perspective. Social Security benefits are not taxed here, and income from Massachusetts state and local government retirement plans is also tax-exempt. Retirees can choose from larger urban areas, quieter suburban cities, and cozy small towns.
1. North Adams
Photo credit: iStock/DenisTangneyJr
North Adams has one of the lowest costs of living in the state, making it one of the most affordable places to live in Massachusetts for retirees who may be on a fixed income. It’s small, but not so small as to lack all of the basic amenities you’d expect in retirement, including access to health care. Almost 25% of the population is over age 65. The North Adams Council on Aging offers numerous programs and services to support older residents, including transportation services, wellness and fitness programs, and assistance with applying for public benefits.
Population: 12,483
Median Household Income: $48,521
Cost of Living: 100% of U.S. average
Average Rent Price: $1,350
Home Price-to-Income Ratio: 4.8
2. Pittsfield
Photo credit: iStock/DenisTangneyJr
Pittsfield is another Western Massachusetts locale that’s ideally suited to retirees who are looking for an affordable cost of living. Around 20% of residents are 65 and over, and there are a significant number of single seniors here, which could make it ideal for older people who are interested in making personal connections. In addition to outstanding health care, Pittsfield offers access to the arts, dining, and shopping. One more upside to living in Pittsfield as a retiree: The public transit system makes it easy to get around.
Population: 43,076
Median Household Income: $68,386
Cost of Living: 108% of U.S. average
Average Rent Price: $1,450
Home Price-to-Income Ratio: 4.2
3. Framingham
Photo credit: iStock/DenisTangneyJr
Framingham is a college town, but there are a sizable number of older adults and retirees who make their home here. The city is unique in that it blends some of the best elements of both urban and suburban living, with plenty of things for retirees to do along with access to excellent health care. Boston is less than a 40-minute drive, making it convenient enough for outings. Checking out a home loan help center can help you know how to navigate the buying process.
Population: 71,875
Median Household Income: $98,179
Cost of Living: 131% of U.S. average
Average Rent Price: $2,403
Home Price-to-Income Ratio: 6.5
Best Places to Live in Massachusetts Near the Beach
Here are the best places to live in Massachusetts if you’re looking for a community with beach access.
1. New Bedford
Photo credit: iStock/DenisTangneyJr
New Bedford is located in the South Coast region, which may be perfect for homebuyers and renters who prefer to live near the water. The city has a rich history and a highly walkable downtown, with the town of Dartmouth and its zoo, wineries, and nature preserves just a 10-minute drive away. Overall, it’s a highly affordable pick for people who’d prefer to live in a larger city.
Population: 100,695
Median Household Income: $56,025
Cost of Living: 116% of U.S. average
Average Rent Price: $1,800
Home Price-to-Income Ratio: 7.3
2. Yarmouth
Photo credit: iStock/Wirestock
For those who want to be close to the water, Yarmouth deserves a look. It’s one of the oldest towns on Cape Cod and boasts a shoreline that spans Cape Cod Bay and Nantucket Sound. The area is a mix of historic sites and new developments, with the three villages of West Yarmouth, South Yarmouth, and Yarmouth Port attracting visitors. If you’re looking for things to do, there’s Whydah Pirate Museum and the Edward Gorey House, not to mention numerous nature trails.
Population: 25,103
Median Household Income: $81,985
Cost of Living: 127% of U.S. average
Average Rent Price: $3,000
Home Price-to-Income Ratio: 7.1
3. Gloucester
Photo credit: iStock/Jill_InspiredByDesign
Gloucester is on Cape Ann, part of the North Shore area. Some of the best beaches in the state are located here, and vacationers frequently rub elbows with locals during the summer months. Gloucester is home to a mix of families, retirees, and young professionals who prefer the slower pace of beach living with the amenities of a larger suburban town.
Population: 29,959
Median Household Income: $87,898
Cost of Living: 134% of the U.S. average
Average Rent Price: $2,800
Home Price-to-Income Ratio: 8.2
The Takeaway
Overall, Massachusetts can be a pricey place to live, but there are options for people of varied budgets and life stages. Whether you’re a first-time homebuyer or anticipate renting for the near-term, it helps to know what you can expect to pay for housing as well as other costs, such as utilities and taxes. The cities included here represent the best places to live in Massachusetts that are also budget-friendly.
If you are planning to make a home purchase, shopping around for a mortgage is an important step to finding the right loan to suit your needs and your budget.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.
Browse Other States
FAQ
What is the best city to live in Massachusetts 2025?
The best city to live in Massachusetts is subjective and can depend on what you’re looking for as a resident. Some of the most popular places to live in Massachusetts include Boston, Cambridge, Worcester, and Springfield.
Where is the most affordable place to live in Massachusetts?
Some of the most affordable cities in Massachusetts include Leominster, Adams, North Adams, and Westfield. When comparing costs of living in Massachusetts, it’s helpful to look at things like housing, utilities, groceries, transportation, insurance, and property taxes.
What is the cheapest New England state to live in?
Based on the overall cost of living, Maine and Rhode Island are the cheapest of the six states that make up the New England region. Massachusetts, on the other hand, has the highest cost of living overall.
SoFi Loan Products
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.
SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
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.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
Qualifying for the reward requires using a real estate agent that participates in HomeStory’s broker to broker agreement to complete the real estate buy and/or sell transaction. You retain the right to negotiate buyer and or seller representation agreements. Upon successful close of the transaction, the Real Estate Agent pays a fee to HomeStory Real Estate Services. All Agents have been independently vetted by HomeStory to meet performance expectations required to participate in the program. If you are currently working with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®. A reward is not available where prohibited by state law, including Alaska, Iowa, Louisiana and Missouri. A reduced agent commission may be available for sellers in lieu of the reward in Mississippi, New Jersey, Oklahoma, and Oregon and should be discussed with the agent upon enrollment. No reward will be available for buyers in Mississippi, Oklahoma, and Oregon. A commission credit may be available for buyers in lieu of the reward in New Jersey and must be discussed with the agent upon enrollment and included in a Buyer Agency Agreement with Rebate Provision. Rewards in Kansas and Tennessee are required to be delivered by gift card.
HomeStory will issue the reward using the payment option you select and will be sent to the client enrolled in the program within 45 days of HomeStory Real Estate Services receipt of settlement statements and any other documentation reasonably required to calculate the applicable reward amount. Real estate agent fees and commissions still apply. Short sale transactions do not qualify for the reward. Depending on state regulations highlighted above, reward amount is based on sale price of the home purchased and/or sold and cannot exceed $9,500 per buy or sell transaction. Employer-sponsored relocations may preclude participation in the reward program offering. SoFi is not responsible for the reward.
SoFi Bank, N.A. (NMLS #696891) does not perform any activity that is or could be construed as unlicensed real estate activity, and SoFi is not licensed as a real estate broker. Agents of SoFi are not authorized to perform real estate activity.
If your property is currently listed with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®.
Reward is valid for 18 months from date of enrollment. After 18 months, you must re-enroll to be eligible for a reward.
SoFi loans subject to credit approval. Offer subject to change or cancellation without notice.
The trademarks, logos and names of other companies, products and services are the property of their respective owners.
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