Are you recycling your plastic beverage containers?

 

When you place a plastic beverage container in a recycling bin, you are an important part of the product’s life cycle, helping that packaging to be used to make something new, over and over again.

An astounding 70 percent of what people toss in the trash is actually recyclable, but very few people recycle as often as they should.

 

What exactly happens to plastic beverage bottles that you put in a recycling bin?

 

They are collected, sorted and ground into plastic flakes. Different types of plastic flakes are separated before being washed and dried. Then the processed flakes are used to make things like cups, trays, clothing, carpet fibers and so much more — including new beverage bottles.

 

Recycling not only reduces waste, it saves energy too. Consider plastic bottled water containers, for example. Making new bottles from old ones uses 84 percent less energy, according to the International Bottled Water Association (IBWA).

 

Understanding that every person plays a critical role in the recycling process, IBWA launched “Put It In The Bin” — a partner-friendly initiative focused on educating people about the value of always putting recyclables in the bin so they can be made into new and amazing things.

 

 

 

For most people, low down payment home loan options include conventional loans with private MI and government-backed loans like those offered by the Federal Housing Administration (FHA). While comparable, each of these options has important differences. For example, the minimum down payment for an FHA mortgage is 3.5 percent while it’s only 3 percent on a conventional, privately insured mortgage.

 

Another key feature of private MI is that it can be canceled when a borrower reaches 20 percent equity in his or her home. Borrowers who purchase a home with private MI can typically cancel it within 5 to 7 years, resulting in their monthly bill going down. Private MI’s cancelability makes it a more affordable option over FHA-backed mortgages, which typically require mortgage insurance premiums for the entirety of the loan term. Both are offered by most mortgage lenders, so it’s smart to ask a loan officer for both options so you can compare and do the math.

 

The myth that a homebuyer needs 20 percent down to obtain a mortgage is simply not true. Low down payment mortgages are widely available and used every day across the country. In 2018, the National Association of Realtors found that first-time homebuyers typically put down 7 percent, while repeat buyers put down an average of 16 percent. Many homebuyers choose a lower down payment option to preserve some savings for home improvements or save for other goals. The time it could take to save up a 20 percent down payment is significant. On average, it could take up to 20 years to save a full 20 percent, plus closing costs, for a $257,700 house — the national median sales price. With home prices on the rise, the amount of time it takes to save up could only increase. Private MI can mean the difference between getting into the home of your dreams sooner or waiting for years.

 

 

For over 60 years, more than 30 million homeowners of all backgrounds have used private MI to successfully buy their homes. In the past year alone, private MI helped more than one million borrowers nationwide purchase or refinance a mortgage. According to a study by U.S. Mortgage Insurers, 56 percent of purchase borrowers were first-time homebuyers and more than 40 percent had incomes below $75,000.

 

For decades, millions of homeowners and prospective homebuyers have relied on private MI to help them affordably and responsibly purchase their homes — in turn helping them build personal wealth. Today’s historically low mortgage interest rates are a good reason to buy a home now. It is estimated that in 2019, the average rate for a 30-year fixed-rate mortgage will be around 5 percent. Borrowers should take advantage of these historically low mortgage interest rates because experts forecast that primary mortgage rates are on the rise.

 

Getting a mortgage with private MI and keeping more of your hard-earned money in the bank can be a very smart way to invest in your future. Check out lowdownpaymentfacts.org to learn more.