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A chiropractor is a licensed healthcare professional who supports spine and nervous system health, providing care and rehabilitation to patients. Those who work in this role are typically experts on causes and treatments of back, neck, and shoulder pain.

To become a chiropractor, you need to get a Doctor of Chiropractic degree, which is usually a four-year program (on top of three years of undergraduate study). However, the investment of time and money in your education can pay off in a job that offers high satisfaction and a good salary. The average annual salary for a chiropractor in the U.S. as of January 5, 2024 is $85,646, according to ZipRecruter.

If you’re interested in working in the healthcare field and enjoy working with people, a job as a chiropractor may be ideal for you. Read on to learn more about how much money a chiropractor makes, as well as other factors to consider before you decide to jump on this career path.

What Are Chiropractors

A chiropractor is a type of medical professional who specializes in evaluating and treating a patient’s neuromusculoskeletal system. Their primary duty is to help patients reduce pain and gain greater levels of mobility. They may perform treatments like massage therapy, physical rehabilitation strategies, or spinal adjustments and procedures.

Tasks involved in being a chiropractor typically include:

•   Reviewing a patient’s medical history and listening to their concerns

•   Performing physical examinations to analyze posture, spine, and reflexes

•   Advising patients on health and lifestyle issues, such as exercise and nutrition

•   Providing neuromusculoskeletal therapy, which involves adjusting a patient’s spinal column and other joints

•   Giving additional treatments, such as applying heat or cold to a patient’s injured areas

•   Referring patients to other healthcare professionals if necessary

Chiropractors often work in healthcare clinics, physical therapy centers, yoga studios, massage centers, or gyms. Some open their own private practices. Because the majority of a chiropractor’s day is devoted to patient care, this job is always in-person and is not a good fit for anyone looking for a work-from-home job.

If a chiropractor runs their own practice, they may also have to take on additional responsibilities related to accounting, record keeping, hiring, and managing employees.

How Much Do Chiropractors Make When They Are Starting Out?

Starting salaries for chiropractors can range anywhere from $41,000 to $76,500. However, those in this role can generally expect their income to rise significantly over time. The highest-earning chiropractors in the U.S. make $93,500 to $101,000-plus a year, per ZipRecruiter.


💡 Quick Tip: When you have questions about what you can and can’t afford, a spending tracker app can show you the answer. With no guilt trip or hourly fee.

What is the Average Salary for a Chiropractor?

How much you can earn as a chiropractor will vary based on your geographical location, company, years of experience, certifications, and other factors. On average, however, a chiropractor earns an hourly rate of $41. This is the equivalent of $1,647 per week or $7,137 per month. The average amount a chiropractor earns per year in the U.S. is $85,646.

The Average Chiropractor Salary by State for 2024

How much money a chiropractor makes can vary by location. What follows is a breakdown of how much a chiropractor makes per year, on average, by state (highest to lowest) based on ZipRecruiter’s data.

State	Annual Salary
Oregon	$98,843
Alaska	$98,357
North Dakota	$98,341
Massachusetts	$97,167
Hawaii	$96,265
Washington	$94,053
Nevada	$92,997
South Dakota	$92,943
Colorado	$91,777
Rhode Island	$91,552
New York	$87,237
Delaware	$86,275
Vermont	$85,187
Virginia	$85,026
Illinois	$85,001
Maryland	$83,554
Nebraska	$81,770
Missouri	$81,264
South Carolina	$80,563
Pennsylvania	$79,915
New Jersey	$79,751
Oklahoma	$79,189
Maine	$79,147
Wisconsin	$78,981
North Carolina	$78,900
New Hampshire	$77,715
Idaho	$77,523
Texas	$77,002
Kentucky	$76,752
Wyoming	$76,482
Minnesota	$76,285
Michigan	$75,978
New Mexico	$75,855
Indiana	$75,472
Ohio	$74,150
Arizona	$73,911
Connecticut	$73,535
Mississippi	$73,019
Iowa	$72,927
Montana	$72,797
Arkansas	$72,531
Alabama	$71,889
Utah	$70,844
Tennessee	$70,793
Kansas	$68,753
Georgia	$66,970
Louisiana	$66,604
West Virginia	$61,719
Florida	$59,269

Chiropractor Job Considerations for Pay & Benefits

On top of their average salary of $85,646, chiropractors earn more once you take their employee benefits into account. Chiropractors who work full-time for an employer can expect to gain access to standard employee benefits like healthcare and paid vacation. However, many chiropractors choose to work part-time or are self-employed. Those who are self-employed and run their own practice will need to provide themselves and their employees with benefits.

Pros and Cons of Chiropractor Salary

Becoming a chiropractor requires pursuing years of higher education. Before making that time and financial commitment, it’s a good idea to carefully evaluate both the pros and cons of working as a chiropractor.

Pros of Being a Chiropractor

Here’s a look at some reasons why you might consider becoming a chiropractor:

•   A positive job outlook According to the U.S. Bureau of Labor Statistics, employment of chiropractors is projected to grow 9% from 2022 to 2032, much faster than the average for all occupations. The government predicts about 2,600 chiropractor job openings a year, on average, over the decade.

•   Ability to help people Chiropractors help people function better, have less pain, and reach their health goals. This type of work generally comes with high job satisfaction because chiropractors know that what they are doing is meaningful.

•   Job flexibility and autonomy Compared to other types of healthcare jobs, chiropractors enjoy a high level of autonomy and independence. Many choose to own and operate their own private practices after they graduate. Becoming an entrepreneur gives you the freedom to make your own schedule and work for yourself.

•   Earn a good salary The national average salary of chiropractors is $85,646 per year, but chiropractors who complete more education and earn special credentials can negotiate for a higher salary, and may earn as much as $100,000 per year. In addition, those in this role may pursue supervisory positions or create their own practice, which can come with higher pay.

💡 Quick Tip: Income, expenses, and life circumstances can change. Consider reviewing your budget a few times a year and making any adjustments if needed.

Cons of Being a Chiropractor

Being a chiropractor also comes with some downsides. Here are some to keep in mind:

•   A long time in school Becoming a chiropractor requires completing extensive schooling. Indeed, it can take up to eight years of school and training to become a chiropractor. However, many chiropractic students find the time and effort worth the reward.

•   Working overtime While some chiropractor positions allow you to work regular, 40-hour weeks, many chiropractors work 50-plus hours per week to see patients, conduct research, and complete paperwork.

•   Risk involved Some chiropractic procedures involve a patient’s spinal cord and nervous system, such as spinal manipulation and decompression, which can cause pain and involve some risk to the patient. That’s why it’s important that chiropractors have extensive training in conducting these procedures.

•   Salary is lower than other types of doctors While chiropractors do practice health care, they typically don’t earn as much money as other kinds of doctors. For example, the average national salary for a general physician is $208,152 per year. Keep in mind, though, that it takes more schooling and training to become a general physician.

Recommended: Best Low-Stress Jobs for Introverts

The Takeaway

Chiropractors specialize in the anatomy and physiology of people’s nervous systems and spine, and their primary duty is to help patients reduce pain and gain greater levels of mobility.

Choosing to pursue a career path as a chiropractor can be stable and lucrative, with annual salaries as high as $110,000.

Before you can make that much money, however, you’ll need to invest in going to chiropractic school. This may require saving money up over time and/or taking out student loans.

Whatever path you choose, learning how to budget and manage your monthly income and expenses can help you reach both your career and your financial goals.

FAQ

What is the highest paying Chiropractor job?

Traveling chiropractors and sports team chiropractors tend to earn higher salaries than other chiropractic roles. You can also earn a higher-than-average income as a chiropractor by owning your own practice and employing professionals from other medical disciplines, such as physical therapy, massage therapy, and acupuncture.

Where you work can also have an impact on how much you earn as a chiropractor. The states with the highest average salaries for chiropractors are Oregon, Alaska, North Dakota, Massachusetts, and Hawaii.

Do chiropractors make 100k a year?

It’s possible for chiropractors to make 100k a year. In fact, annual salaries for chiropractors can be as high as $110,000.

How much do chiropractors make starting out?

Starting salaries for chiropractors can range anywhere from $41,000 to $76,500. However, a chiropractor’s income typically increases over time. The highest-earning chiropractors in the U.S. make $93,500 to $101,000-plus a year.

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Photo credit: iStock/ljubaphoto

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.

*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.

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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Becoming a surgeon requires committing to many years of school and putting in countless clinical hours. The good news is that all the time and hard work can lead to a fulfilling career that pays well. The average annual pay for a general surgeon in the U.S. as of January 2024 is $285,176, according to ZipRecruiter.

It’s important to remember that this is just the average salary. Where a surgeon lives, the type of surgery specialty they take on, and a host of other factors can influence how much they can earn. Keep reading for more insight into how much surgeons make.

What Are Surgeons?

A surgeon is a medical professional who operates on patients to treat injuries (such as broken bones), diseases (like cancerous tumors), and deformities (such as cleft palates). A surgeon can have an M.D. (Medical Doctor) and D.O. (Doctor of Osteopathic Medicine) degree.

A surgeon doesn’t only perform operations, however. These specialists are also responsible for the preoperative diagnosis of the patient and for providing the patient with postoperative surgical care and treatment. The surgeon is also looked upon as the leader of the surgical team.

Surgeons can typically expect to work long days, primarily in person, so this type of job is probably not a good fit for anyone looking for a work-from-home job. However, surgeons can work in a variety of different settings. These include:

•   Private practice

•   Academic medicine

•   Institutional practice

•   Hospitals

•   Ambulatory surgery settings

•   Government service programs

How Much Does a Surgeon Make Starting Out?

General surgeons can earn an impressive entry-level salary, often as much as $250,000. With experience, a surgeon can make upwards of $399,000 a year, per ZipRecruiter.

💡 Quick Tip: When you have questions about what you can and can’t afford, a spending tracker app can show you the answer. With no guilt trip or hourly fee.

What is the Average Salary for a Surgeon?

You can measure how much a surgeon makes by looking at both their average hourly rate and annual salary. The national average hourly salary for a surgeon is $137, while the average annual pay for a surgeon in the U.S. is $285,176.

The type of specialty a surgeon chooses to practice can impact how much they earn. What surgical specialty makes the most? Let’s take a quick glance at the average annual wages for surgeons with varying specialties:

•   Orthopedic surgeon: $375,000

•   Oral and maxillofacial surgeon: $368,879

•   International cardiothoracic surgeon:$367,474

•   Plastic surgeon: $356,489

•   Mohs surgeon: $345,926

What Is the Average Surgeon Salary by State for 2024?

How much money a surgeon makes can vary by location. What follows is a breakdown of how much general surgeons make a year, on average, by state (highest to lowest).

State	Annual Salary
Alaska	$307,539
Oregon	$306,905
Massachusetts	$306,253
North Dakota	$305,878
Minnesota	$303,104
Washington	$302,948
Hawaii	$299,696
Ohio	$296,452
Colorado	$290,989
Nevada	$290,784
South Dakota	$289,088
Iowa	$285,657
New York	$284,746
Rhode Island	$284,266
Tennessee	$283,057
Connecticut	$282,197
Utah	$280,344
Vermont	$277,620
Mississippi	$276,794
Delaware	$274,611
Virginia	$271,072
Illinois	$269,084
Maryland	$266,057
Louisiana	$264,627
California	$261,981
New Jersey	$261,615
Pennsylvania	$260,865
Nebraska	$260,692
Kansas	$260,477
Wisconsin	$259,426
Missouri	$258,253
Maine	$256,239
South Carolina	$255,857
New Hampshire	$253,485
Oklahoma	$252,459
North Carolina	$250,576
Idaho	$250,340
Wyoming	$249,821
New Mexico	$249,131
Texas	$248,404
Indiana	$246,782
Kentucky	$242,414
Arizona	$241,680
Michigan	$240,989
Montana	$238,038
Alabama	$235,066
Arkansas	$229,613
Georgia	$218,984
West Virginia	$201,470
Florida	$193,803

Surgeon Job Considerations for Pay & Benefits

Surgeons typically work in clinical settings, such as physicians’ offices and hospitals, including academic hospitals associated with residency programs and medical schools.

The average annual salary for a surgeon is $285,176 but surgeons can actually earn a lot more when you look at their total compensation package including benefits.

Because surgeons often work full-time for a specific hospital, company, or organization, prospective surgeons can expect to find a job that offers them the standard suite of employee benefits, including healthcare, paid vacation, vision and dental insurance, and a retirement plan.

In addition to these benefits, some surgeons also receive life insurance policies, continuing medical education (CME), flexible scheduling, research and academic support, and development programs.

Pros and Cons of a Surgeon’s Salary

Becoming a surgeon takes a lot of hard work and discipline, but surgeons can also change the lives of their patients every single day and earn a substantial income at the same time. Here’s a closer look at the pros and cons of choosing a career as a surgeon.

Pros of Being a Surgeon

Being a surgeon offers potential benefits like:

•   Ability to help people A surgeon can help people experience less discomfort, pain, and stress, and even save their lives. Surgeons also train and mentor junior colleagues.

•   Opportunity to work as part of a team Surgeons typically collaborate with doctors, nurses, and other medical specialists to provide comprehensive care to patients. (Consequently, it may not be the ideal medical specialty for someone who is naturally more of an introvert.)

•   High compensation The national average salary of surgeons is $285,176 per year but can go as high as 375.000-plus, depending on location, years of experience, certifications, and other factors. Surgeons also typically get benefits like health insurance and 401(k) plans.

•   Consistent schedule Depending on their specialty and seniority, some surgeons are able to have a regular work schedule and perform surgeries during certain hours. This can help promote a healthy work-life balance.

•   Chance to work in different environments Surgeons can work in a variety of places, including hospitals, private practices, and other medical centers. Many surgeons also have offices where they consult with patients in addition to the centers where they do surgery.

Recommended: 27 Fulfilling Jobs for Extroverts That Pay Well

Cons of Being a Surgeon

However, surgeons also face the following challenges:

•   Long and rigorous educational requirements To become a surgeon, you typically need to complete a four-year bachelor’s degree program, a four-year degree program from medical school, and a three to seven-year internship or residency program. All told, it can take 11 to 15 years of studying in school to enter the field of surgery.

•   Long hours Depending on your specialty and where you work, you may need to work long hours. Indeed, general surgeons may work 50 to 60 hours per week. In addition, some surgeons need to be on call on evenings and weekends.

•   High-pressure job Surgery generally involves a certain level of risk and surgeons are under pressure to perform procedures with no errors in order to ensure a positive outcome for their patients. Surgeons need to be able to stay calm and focused under pressure.

•   Burnout potential Depending on their specialty, some surgeons may be required to perform the same procedures each day, sometimes more than once per day. This could potentially lead to job burnout over time.

•   High education costs Going to school for all the years required to become a surgeon can be expensive. As a result, surgeons may take on a lot of student loan debt, which they’ll need to repay once they enter the field. This can lessen the average surgeon’s salary.


💡 Quick Tip: Income, expenses, and life circumstances can change. Consider reviewing your budget a few times a year and making any adjustments if needed.

The Takeaway

Becoming a surgeon requires years of study and practice, including medical school and residencies. Those who are up for the challenge can earn a high salary, especially if they go into one of the more lucrative specialties. Since surgeons earn such a high income, they need to find a way to manage their money and use it to reach their goals.

FAQ

What is the highest paying surgeon job?

Neurosurgeons, also called neurological surgeons, are the highest-paid surgeons. These doctors specialize in the diagnosis and treatment of conditions of the brain, spine, and nervous system, and can make upwards of $780,000.

Do surgeons make 300k a year?

Many surgeons make $300,000 or more per year. The following specialties all earn an average salary well over $300,000: orthopedic surgery, oral and maxillofacial surgery, plastic surgery, and Mohs surgery.

How much do surgeons make starting out?

General surgeons can earn as much as $250,000 as a starting salary. With experience, a surgeon can make upwards of $399,000 a year.

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Photo credit: iStock/stefanamer

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.

*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.

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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As long as people rely on indoor plumbing, we will need experienced, skilled plumbers to install, repair, and maintain the systems we use every day. Being a plumber is not only an in-demand job but one that generally pays well. A plumber’s average annual salary in the U.S. is $74,253, according to ZipRecruiter.

A plumber’s expertise spans from diagnosing and repairing leaks in people’s homes to planning commercial piping and municipal sewer systems.

If you enjoy working with both your hands and machinery, have strong attention to detail, and are a good problem-solver, being a plumber might be the right job for you. Read on to learn more about how much plumbers make per hour, how salaries vary by region, and other factors to consider before you decide to pursue a career in plumbing.

What Are Plumbers?

Plumbers are skilled professionals who install, maintain, and repair plumbing systems that supply residential and commercial properties with water and gas and carry away waste. Plumbers play a crucial role in ensuring these systems function properly and efficiently. Their expertise applies both to municipal sewers and single-home septic systems.

Plumbers diagnose and fix various issues related to plumbing systems, such as leaks, clogs, and malfunctions in pipes or fixtures. They also perform routine maintenance to prevent problems and keep plumbing systems in good working order.

In some cases, plumbers are involved in the initial design and planning stages of construction or renovation projects, ensuring that plumbing systems are installed efficiently and meet local building codes and regulations. Some plumbers may specialize in specific areas, such as commercial plumbing, industrial plumbing, or specific types of systems like hydronic heating.

How Much Does a Plumber Make Per Year Starting Out?

A plumber can make a good entry-level salary that continues to increase over time. For example, plumbers with less than one year of experience earn, on average, $50,129, while the average salary for a plumber with more than 10 years of experience is $72,740 per year.

💡 Quick Tip: When you have questions about what you can and can’t afford, a spending tracker app can show you the answer. With no guilt trip or hourly fee.

What Is the Average Salary for a Plumber?

Plumbers can earn either an hourly rate or an annual salary, depending on the type of work they do. How much a plumber makes per hour can range anywhere from around $18 to $53. The average hourly pay for a licensed plumber in the U. S. as of January 2024 is $35.70 an hour, per ZipRecruiter. The current national average for how much a plumber makes a year is $74,253.

How much money a plumber makes can vary by location. What follows is a breakdown of how much plumbers make a year (on average) by state.

Average Plumber Salary by State for 2024 (Highest to Lowest)
State	Average Annual Salary
Oregon	$71,663
Alaska	$71,436
North Dakota	$71,330
Massachusetts	$70,713
Hawaii	$69,839
Washington	$68,826
Nevada	$67,543
South Dakota	$67,414
Colorado	$66,891
Rhode Island	$66,377
Mississippi	$64,771
New York	$64,056
Delaware	$62,943
Vermont	$62,526
Virginia	$62,057
Illinois	$61,927
Maryland	$60,963
Kansas	$59,681
California	$59,358
Missouri	$59,263
South Carolina	$58,742
Pennsylvania	$58,681
New Jersey	$58,636
Wisconsin	$58,089
Maine	$57,993
Oklahoma	$57,796
North Carolina	$57,529
New Hampshire	$57,054
Idaho	$56,766
Texas	$56,370
Wyoming	$56,169
Minnesota	$56,128
Kentucky	$55,885
New Mexico	$55,788
Indiana	$55,443
Michigan	$55,381
Ohio	$54,552
Arizona	$54,296
Connecticut	$54,141
Iowa	$53,673
Montana	$53,478
Arkansas	$52,843
Alabama	$52,810
Utah	$52,129
Tennessee	$52,129
Georgia	$49,197
Louisiana	$49,005
West Virginia	$45,320
Florida	$43,539

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Plumber Job Considerations for Pay & Benefits

Plumbing has become a popular trade because of the various perks and financial advantages that come along with the job. First, the average starting salary of $50,129 is higher than in many industries. Plus, some plumbers are union members, which means that their salaries are protected by a contract and they may receive attractive health insurance and retirement packages.

Learning to be a plumber is also less demanding than obtaining a four-year bachelor’s degree. You can study to be a plumber by attending trade school or technical college. Usually, it takes anywhere between four and 24 months to complete your schooling.

Furthermore, plumbers-in-training typically can become apprentices while they’re completing their education. Apprenticeships let you work and learn simultaneously, meaning you’ll earn competitive pay while you work toward certification. For these reasons, plumbers can often finish their education with little to no student loans.

Plumbing is also a steady profession that will likely always be in demand. Even during economic downturns, residential and commercial buildings won’t stop needing running water and working toilets.

Lastly, plumbers can advance through the ranks to increase their pay and move into new roles. For example, attaining journeyman status often leads to a significant bump in salary. On average, journeyman plumbers earn $64,520, a $14,391 increase over the average starting salary.

Likewise, you could become a plumbing engineer or a superintendent to manage municipal jobs. Many plumbers also start their own businesses, which could lead to a job that pays $100,000 or more.


💡 Quick Tip: Income, expenses, and life circumstances can change. Consider reviewing your budget a few times a year and making any adjustments if needed.

Pros and Cons of a Plumber Salary

As with any profession, there are both advantages and disadvantages to being a plumber. Carefully considering each can assist you in determining if this is the right career for you.

Pros of Being a Plumber

Becoming a plumber can offer several attractive advantages:

•   Job security Plumbing is an essential service that is always in demand. Even during an economic recession, people will always need plumbing services.

•   Good pay Plumbers are well-compensated for their expertise from the get-go. With experience and expertise, plumbers can earn a substantial income. Plus, less need for student loans means debt likely won’t erode your earnings.

•   Daily exercise Plumbing work often involves physical tasks such as lifting, bending, and carrying equipment. This aspect of the job provides plumbers with regular physical activity, contributing to a healthier lifestyle.

•   Promotion and business ownership opportunities As a plumber gains experience and expertise, they can ascend the ranks (such as moving from journeyman to master plumber) to increase their pay and access new projects. Additionally, some plumbers choose to start their own businesses, which can be highly profitable and offer independence.

•   Variety during work Plumbers typically encounter a wide range of challenges and tasks on the job. For example, you might replace piping one day and fix a host of leaky faucets the next. This variety can keep the work exciting and engaging.

Recommended: 30 Low-Stress Jobs for Introverts Without a Degree

Cons of Being a Plumber

However, plumbers also face the following challenges:

•   Physically taxing Plumbing work often requires physical strength and endurance. Plumbers may need to lift heavy equipment, crawl into tight spaces, and crouch for hours on end. These repeated tasks can lead to strain or fatigue.

•   Lack of routine Plumbing work can be less predictable than some office jobs that follow a set schedule. The unpredictability can be stressful for those who want the same pattern in their work every day or week.

•   Working at all hours Plumbing issues can arise at any time, including nights, weekends, and holidays. Plumbers may need to be on-call or work during off-hours to address urgent situations. These situations impact work-life balance and require a degree of flexibility in one’s schedule.

•   Risk of injury Working with plumbing systems and tools can pose certain risks. Plumbers may be exposed to sharp objects, hot surfaces, chemicals, and falling pipes. Additionally, working in confined spaces or at heights can increase the risk of accidents or injuries.

•   High pressure environment Addressing leaking sewage and malfunctioning water systems can be stressful and clients may be stressed and difficult to work with. Furthermore, plumbers must navigate unpredictable environments and situations, necessitating the ability to remain composed even in hazardous conditions.

Recommended: 11 Work-From-Home Jobs Great for Retirees

The Takeaway

Plumbers make a desirable starting salary with plenty of room to advance their careers. They can enjoy the satisfaction of helping others with an essential aspect of life and rest in the fact that the profession isn’t going anywhere.

However, plumbing can impose physical wear and tear, cause injuries, and require work in extreme conditions. The tradeoff for low or no student debt and consistent, lucrative work is the tough physical labor and the possibility of working late hours.

Even after weighing the potential cons, however, you may decide that a trade profession such as plumbing can help you further your professional and financial goals.

FAQ

What is the highest paying plumber job?

The highest paying plumber job is a plumbing engineer, which requires engineering knowledge and project management skills. This position can pay as much as $112,000 annually.

Do Plumbers make 100k a year?

Plumbers at the highest levels of the profession can make $100,000 per year. Specifically, plumbing engineers (who design plumbing systems for private, public, or commercial buildings) and plumbers who own their own companies can potentially earn six figures a year.

How much do plumbers make starting out?

Plumbers with less than one year of experience earn, on average, $50,129 per year.

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Photo credit: iStock/Yaroslav Astakhov

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.

*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.

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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If you’re in the market for a home, the thought of building your own house may have crossed your mind. Not only does building your own home take you out of the rat race of bidding for a home in a seller’s market, but you get the luxury of building your dream house to spec.

Building a home comes with a multitude of costs, including labor, materials, and land. The costs of all of these elements have risen in recent years along with everything else. The good news is that inflation slowed in 2023 and is expected to continue easing in 2024.

Let’s dive into how much you can expect to spend on building a home today.

Average Cost of Building a House

The cost to build a house (not including land) can range anywhere from $42,000 to $900,000-plus depending on the type and size of the house, where you build it, and how you choose to customize the home. On average, it costs around $329,000 to build a house in the U.S.

When calculating how much it will cost to build a house, you’ll want to consider how many bedrooms you’ll need, since this will impact the square footage and ultimate cost.

On average, building a new house costs $150 per square foot. Here’s a look at the average cost of building a house based on size.

Home Size	Average Cost to Build
800 – 1,500 square feet (2 bedrooms)	$122,000
1,000 – 2,500 square feet (3 bedrooms)	$147,000
1,900 – 2,600 square feet (4 bedrooms)	$285,000
2,500 – 3,500 square feet (5 bedrooms)	$375,000

💡 Quick Tip: SoFi’s Lock and Look ⁺ feature allows you to lock in a low mortgage financing rate for 90 days while you search for the perfect place to call home.

Typical Costs Associated With Building a Home

The lion’s share of your home building expenses will consist of land, labor, and materials. And, depending on market conditions when you decide to build a home, these costs can vary widely. Building a home can take many months and cost hundreds of thousands of dollars. In most cases, these expenses aren’t paid out in one lump sum, and you’ll find yourself having to budget over several months.

If you’re thinking of building a house and want to figure out how to properly allocate your funding over the life of the construction project, it’s a good idea to split the home construction project into individual segments. For ease of understanding, we’ve split construction costs into three phases:

•   Preparation costs

•   Construction costs

•   Post-construction costs

Preparation Costs

Preconstruction costs include the land, the initial costs to assemble a team for the construction project, and fees for permits and reviews that must be completed before you’re approved to proceed.

This phase can take several weeks to months. The timing will usually depend on the time to obtain all zoning and permit approvals as well as the availability of contractors.

Purchasing the Land

Before you can build a home you’ll typically need to buy a plot of land, which can range anywhere from $3,000 to $150,000 depending on the size of the lot and the location.

If you already own the land where you want to build the house, you’ll save a significant amount of the total cost of your new home build.

Water & Sewer Inspection

Local ordinances will require professional inspections of water and sewer lines before you break ground. Not only is this mandatory, but it’s also a good idea to ensure that everything is in good working order to avoid costly future problems with your water and sewer lines.

Getting utility connections professionally inspected can run around $8,400.

Architect and Home Planning Fees

Hiring an architect to create a plan for your home can run around 10% of the total cost to build the home. The cost can range anywhere from $2,000 and $20,000 depending on the complexity of your intended home and the local market. Homebuyers interested in smaller or simpler home plans can cut costs by buying pre-designed stock blueprints for as little as $500 or considering a prefabricated home.

Getting Permits & Approvals

Building a new home requires a building permit and other approvals. The cost of obtaining a building permit varies widely but averages from $1,200 to $2,000, depending on your municipality.

Getting the proper permits and zoning approvals is usually one of the most time-consuming parts of the home-building process. Working with your construction team to obtain these permits as early as possible will help to avoid delays.

Recommended: How Long Does It Take to Build a House?

Construction Costs

Construction costs encompass all the expenses of breaking ground, constructing the framework, and erecting the structure, as well as paying for all the materials and labor.

Erecting the structure and ensuring that all of the utilities are hooked up can take months, depending on how complex your home plan is. To mitigate the possibility of delays, most home construction projects begin in the spring and (ideally) plan to wrap up before the end of fall.

Excavating and Laying the Foundation

If the land hasn’t already been prepared for building, you’ll need to have it cleared, or excavated. This can cost around $2,300. After that, the crew can lay the foundation, which can be as simple as a concrete slab or involve building out a basement, which increases the cost. On average, a foundation costs around $4 per square foot. The average foundation for a new home runs around $8,900.

Putting Up the Frame

The frame of your home makes up its skeletal structure and is vital to its structural integrity. Framing costs will vary widely based on the size of the property, choice of materials, and the market costs for obtaining the materials.

On average, you can expect to pay between $7 and $16 per square foot for framing. The average cost to frame a new house ranges from $20,000 to $50,000.

Installing Electrical

The average cost of installing an electrical system in a new home ranges between $7,000 and $13,000.

This includes the cost of hiring licensed electricians, having them install wiring, outlets, switches, and electrical panels throughout your new home to code. The cost depends on your area, the power needs of your home, and whether you choose to install any bells and whistles like backup generators or solar panels.

Installing Plumbing

The average cost of installing a plumbing system in a new home ranges from $1,500 to $17,500.

Licensed plumbers will install piping throughout your home and connect it to the public water and sewer system. Like the rest of your construction expenses, your plumbing expenses will vary depending on the size of your property. It will also depend on how many water hookups you’ll need, the plumbing materials used (PVC pipes cost much less than copper), and the water capacity of the system you choose to install.

Recommended: 12 Ways to Reduce Your Water Bill and Save Money

Installing HVAC System

Installing a new heating, ventilation, and cooling (HVAC) system in your home can run anywhere from $5,000 to $34,000. The cost of a system that can adequately heat your house during the winter and cool it during the summer can vary widely. Generally the larger your home, the more expensive your system is likely to be.

Installing the Insulation, Drywall, and Flooring

Insulation, drywall, and flooring can significantly add to the cost of building a home. These costs break down as follows:

•   Insulation: $3,000 to $10,000

•   Drywall: $2.25 per square foot or $15,550 on average

•   Flooring: $1 per square foot for synthetic materials (like laminate); $10-plus per square foot or for natural solid hardwood plank

Proper insulation of your home will go a long way toward ensuring that it retains heat in the winter and stays cool in the summer. Installing drywall and flooring gives shape to your home and a canvas with which you can begin to paint.

Expect costs for all three services to fluctuate with the size and location of your home. While drywall costs remain fairly consistent, insulation and flooring costs can vary by geography. If you choose to go with tiles and hardwood flooring in sections of your home, expect to pay a premium for it, especially when compared with linoleum or vinyl.

Roofing

The installation of a brand-new roof costs an average of $8,500, but will depend on the type of roofing material you choose. The standard roofing material is asphalt shingles, which costs around $1.50 to $5.50 per square foot (including installation).

Doors, Windows, and Finishing the Exterior

Finishing the exterior of your new home involves installing siding, trim, windows, and doors. We’ve broken down these average costs as follows.

•   Doors: $250 (interior doors); $400 to $3,500 (exterior doors)

•   Windows: $150 to $1,500 (depending on the style and window type)

•   Exterior siding: $2 to $9 per square foot

•   Trim: $1,500

Single-pane windows and doors with cheap weather stripping are more likely to leak cold air in the winter, contributing to higher heating bills. Expect to pay extra for solid timber doors, double-paned windows, and high-tech garage door systems.

Post-Construction

Now that you’ve got your structure in place, it’s time to install the cosmetic finishes that will make your home shine. This includes paint, appliances, lighting, and home fixtures.

This stage is your chance to brand your home with a personality of its own.

Kitchen, Bathroom, & Light Fixtures

Plumbing fixtures include sinks, toilets, tubs, showers, and faucets, and all together can run you around $5,000. Lighting fixtures for a new home can range anywhere from $2,000 to $12,000.

These expenses can vary based on the size of your home, how many bathrooms you have, and the quality and materials of your chosen fixtures.

Painting

The cost of labor and paint required to finish the interior of a new home will depend on the size of the home and whether you choose to paint the interior of your home yourself or hire painters. If you opt to DIY, you could spend as little as $300. If you hire a professional, the cost to paint a house could run as high as $28,000 for a large home with a lot of molding and trim.

Keep in mind that higher-quality paint is usually thicker and lasts longer than cheaper brands.

Countertops and Cabinets

Costs of countertops and cabinets can range from $100 to $1,230 per linear foot depending on materials, quality, and finish.

Expect to pay up for premium options like granite countertops and kitchen islands when compared with basic materials like wood, concrete, and composite. You’ll also typically pay more for custom products than you will for stock items.

Appliances

Appliances like cooking ranges, refrigerators, and washing machines/dryers can cost $3,000 to $15,000-plus total depending on the features you want for each machine.

Just a refrigerator can cost as little as $500 for a basic unit to upwards to $12,000 for a commercial-grade model designed for residential homes. The installation of these machines is fairly straightforward, so expect most of the costs to be for the appliances themselves.

Recommended: Are Home Warranties Worth It?

Landscaping

Landscaping work for a brand-new home costs an average of $8,200.

These costs will need to be paid if you don’t want your property to sit on top of a dirt patch. Ground will need to be moved and your lawn will need to be properly seeded to ensure that it comes in green and even in the spring. These costs can be higher still if you want to add flower beds, new trees, or hedgerows.

If you want the help of a landscape architect to create an outdoor space with curb appeal, expect to pay $70 to $150 per hour.

Driveway

Putting in a new driveway can cost about $4,400. This expense can vary, however, depending on the size of your driveway and whether you opt for gravel or paved. A gravel driveway may cost one-third of what a fully paved driveway costs.

Other Factors That Can Affect the Cost of Building a House

There are a number of additional factors you’ll want to keep in mind when building a home, as they may influence your input costs and long-term home value. They include your chosen area, the size of the house, and market temperature and trends.

Real Estate Trends

These are market-driven trends that you have little to no control over as a homebuyer. They include mortgage rates, the balance between home supply and demand in your area, and the general direction of home prices near you.

Overall, rising mortgage rates tend to hurt demand, as higher rates increase borrowing costs for prospective homebuyers. Your borrowing costs could rise as well if your home building project gets delayed.

Demand and home prices in your area will affect land values as well as the potential growth in your home’s value after you complete construction. Rising home values may drive up the expense of your home building project, and indirectly drive up land costs in your area.


💡 Quick Tip: To see a house in person, particularly in a tight or expensive market, you may need to show the real estate agent proof that you’re preapproved for a mortgage. SoFi’s online application makes the process simple.

Living Expenses and Emergency Costs

According to the U.S. Census Bureau, an owner-built home can take nearly 12 months to complete. While you’ll likely have budgeted your home building costs over that period, make sure to factor in your living expenses as well.

You’ll need to ensure you’ve budgeted enough to feed and house your family for months, with money to spare, should the build be delayed. Construction projects can be delayed for any number of reasons; uncooperative weather is a common one.

In some instances, things like spikes in fuel costs and construction materials can cause unexpected budget increases, particularly if you’re planning on building in a particularly remote area. Getting work crews and building materials out there can cost time and money; expect to be billed for that time.

If you’re hoping to buy and sell at the same time, that takes strategy and timing.

Explore SoFi’s Home Financing Options

Building a home is the ultimate way to get what you want in a dream home. SoFi does not issue construction loans but does offer construction to permanent financing when the property is complete.

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.

SoFi Mortgages: simple, smart, and so affordable.

FAQ

Is it cheaper to build or buy a house?

It depends on where you live. Building from scratch can be cheaper in areas where home prices have remained stubbornly high. In some regions, however, buying is more affordable than building.

The states where you can save by building tend to be the West and South Atlantic. In the Midwest, on the other hand, you may be better off buying an existing home than building from scratch.

What’s the lowest possible amount I can use to build a house?

This depends on the location you choose and the cost of labor and materials in your area. You might be able to build a simple tiny house or repurposed shipping container for under $50,000. Keep in mind, though, that you’ll need land to build on, which can cost more than that, as well as all building permits (which can cost up to $3,000).

Is it possible to get a loan to build a house?

Yes, some mortgage lenders offer construction loans to build a house from scratch. With this type of loan, money is usually advanced incrementally during construction, as the home-building project progresses. Typically, you only pay interest during the construction period. Once the construction is over, the loan amount becomes due, and it is converted into a regular mortgage.

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Photo credit: iStock/Bouillante

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.

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If you’re shopping for a home loan, you may be wondering if using mortgage points to “buy down” your interest rate is a good move for you.

The answer is … it’s complicated.

Whether you’re buying or refinancing your home, purchasing mortgage points from your lender can lower your monthly payment and reduce the overall amount of interest you’ll pay on your loan. And that’s certainly an appealing prospect.

But it’s important to understand how points work — how much they can cost and how much they might save you over the life of your loan — before you decide to hand over that extra cash up front at your closing.

What Are Mortgage Points?

Mortgage points, also known as discount points, may be used by a borrower to prepay some of the interest on a home loan in exchange for a lower mortgage rate. The borrower pays more up front (the points are paid as a fee at closing) but can end up saving money over time because the interest rate is then reduced for the life of the loan.


💡 Quick Tip: SoFi’s Lock and Look ⁺ feature allows you to lock in a low mortgage financing rate for 90 days while you search for the perfect place to call home.

How Do Mortgage Points Work?

Lenders typically base their interest rate offers on several factors, including a borrower’s credit profile and current market rates. But once you receive that initial offer, your lender also may give you the opportunity to buy down your rate through the use of mortgage points. (If the lender doesn’t bring it up, you can ask.)

Every point purchased reduces the interest rate a borrower pays by a predetermined percentage, which can vary from one lender to the next. But let’s say your lender offers you an initial rate of 3.25% and provides a 0.25% rate reduction if you purchase one discount point. If you decide to buy the point, your rate would then be 3%.

Each point you buy typically costs 1% of the amount you’re borrowing, and that money is due up front. So, for example, if your loan is for $200,000, a point will cost $2,000 at closing. If that seems too steep, you may be able to purchase a fraction of a point. A half-point in this scenario would cost $1,000, or three-quarters of a point would be $1,500.

How Do Points Affect Your Mortgage?

Here’s a hypothetical example to illustrate how buying one point could reduce the cost of a 30-year, fixed-rate $200,000 mortgage. (This is a bare-bones example, so the payment amount includes principal and interest only.)

Discount points purchased	None	1 point ($2,000)
Loan principal	$200,000	$200,000
Interest rate	3.25%	3%
Monthly payment	$870	$843
Total interest paid over life of the loan	$113,348	$103,555
Total saved over life of the loan	None	$9,793

Keep in mind that the borrower in this scenario would have to stay with the loan for the entire 30-year term to get the full savings — and that can be rare these days. Homeowners only stay in a home for an average of eight years, and many refinance their home loans.

That’s why it’s important to factor in your “break-even point” — when the savings from the lower mortgage cost offset what you paid for the discount points — before you make your decision.


💡 Quick Tip: Generally, the lower your debt-to-income ratio, the better loan terms you’ll be offered. One way to improve your ratio is to increase your income (hello, side hustle!). Another way is to consolidate your debt and lower your monthly debt payments.

What Is the Break-Even Point?

Paying points on a mortgage can lower your monthly payment and save you thousands of dollars — if you keep the same loan long enough to recover the money you paid up front. If you plan to move or refinance before you reach and pass that threshold, paying points may not make sense.

To calculate the approximate point at which you would get back what you spent on prepaid interest, you can divide the amount you paid for any points by the amount you’ll save each month on your payment. For example, as noted in the chart above, if you purchased one point for $2,000 at closing, you’ll save $27 each month. Divide $2,000 by $27 and you’ll see you can expect to break even in 74 months — or about six years. If you plan to stay in your home much longer than that, buying down your rate could be worth considering.

Can You Buy Points for an ARM?

You can buy points if you decide to go with an adjustable-rate mortgage (ARM) instead of a fixed-rate mortgage. But it may not be worth it if the points apply only to the ARM’s initial interest rate, which typically lasts for three, five, seven, or maybe ten years. If the rate goes up after that and you decide to refinance, you could lose out on the savings you hoped to get when you paid for the points.

Recommended: How an Interest-Only Mortgage Works

Are Mortgage Points Tax Deductible?

Discount points, which are considered prepaid interest, may be deducted as home mortgage interest if you itemize deductions on Schedule A of your Form 1040. But you’ll need to meet certain criteria in order to deduct mortgage points and you may not be able to deduct all of the mortgage interest and points in the year you paid them.

It’s important to note that only discount points, which represent prepaid interest, are tax deductible. “Origination points,” which also may be referred to as mortgage points, are not tax deductible. These points, which you’ll also pay at closing, refer to the various fees lenders may charge in preparing your mortgage (such as processing, underwriting, administration, or document preparation costs).

Your accountant or tax preparer should be able to answer your questions if you aren’t clear about the amount you can deduct on your annual return.

Is There a Limit on the Points You Can Buy?

The maximum number of points you can purchase to reduce your interest rate may differ based on factors like the financial institution, type of loan you choose, or how much you need to borrow. According to a survey of lenders performed weekly by Freddie Mac, the average number of points reported on 30-year, fixed-rate conventional loans in 2022 was 0.9.

Benefits and Risks of Mortgage Points

Here are some things to consider when you’re deciding if buying points makes financial sense for you.

How Long Do You Plan to Stay in the Home?

If you run the numbers and think you’ll keep your loan past your break-even point, it could be worth paying extra up front. But if it’s a starter home, or you expect to relocate for your career, buying points may not be prudent.

Do You Have Plenty of Money Saved?

Homeownership can be expensive. Are you certain you have enough saved to make a decent down payment, pay for points as well as other closing costs, and still have funds in reserve for the inevitable expenses related to homeownership? If not, you may want to reconsider the benefits of buying down your interest rate.

Did the Seller Agree to Pay Some Closing Costs?

If the seller agreed to pay some or all of your closing costs, you may be able to negotiate discount points as part of that offer.

Do You Plan to Make Extra Payments?

Paying for points could be a smart strategy if you expect to hold on to the same loan for a long time. However, if your goal is to pay off your mortgage early — perhaps by paying more toward the loan principal whenever possible — points may not offer the savings you expected.

Would the Money Be Better Spent on Your Down Payment?

If you have plenty of money saved and you’re trying to decide between increasing your down payment or buying points, you may want to run the numbers to determine which choice will give you a better return on your investment.

If your time horizon is short, you may save more by making a bigger down payment. If you plan to stick around for several years at least, you may choose to put your money toward discount points.

Remember, depending on the type of loan you have, if you make a down payment that’s less than 20%, your lender probably will require that you purchase private mortgage insurance. PMI could add about 0.3% to 1.5% to the cost of your mortgage. And you’ll likely have to pay it every year until your equity in the home reaches 20%.

Pros and Cons of Mortgage Points

Pros	Cons
You can lower your monthly mortgage payment	High up-front costs can make closing even more expensive
You may be able to save on interest over the life of your loan	Could deplete cash needed for furniture, renovations, moving, etc.
Discount points may be tax deductible for those who itemize	Could lose money if you sell or refinance before breaking even

Ready to Go Rate Shopping?

Make sure when you shop rates, you’re comparing apples to apples. Some lenders may offer an interest rate that appears lower than others but has a fraction of a point or a point tied to it. If two lenders are offering a 3% interest rate on a 30-year, fixed-rate loan, but one is charging a point to get that rate and one isn’t, the one that isn’t charging the point is offering you a more affordable deal.

Be cautious when comparing mortgage rates: If it isn’t clear how much you’ll pay to borrow, you can ask a loan officer to walk you through your loan estimate and/or to calculate your costs based on different time frames. Lenders are required to disclose information about their products in a way that allows borrowers to make meaningful comparisons.

The Takeaway

What’s the point of mortgage points? They allow homebuyers to reduce their loan’s interest rate by paying some of the interest up front. Buying discount points can save you money on interest over time, but only if you keep the loan long enough to recover the upfront cost.

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.

SoFi Mortgages: simple, smart, and so affordable.

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Photo credit: iStock/Prostock-Studio

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.

⁺Lock and Look program: Terms and conditions apply. Applies to conventional purchase loans only. Rate will lock for 91 calendar days at the time of preapproval. An executed purchase contract is required within 60 days of your initial rate lock. If current market pricing improves by 0.25 percentage points or more from the original locked rate, you may request your loan officer to review your loan application to determine if you qualify for a one-time float down. SoFi reserves the right to change or terminate this offer at any time with or without notice to you.

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.

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.

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.

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