MoneyHL

Calculating an Investment’s Payback Period

Calculating Investments Payback Period

What Is a Payback Period? The payback period is the amount of time it will take to recoup the initial cost of an investment, or to reach its break-even point. Considering the ups and down of various market factors — e.g. the crypto winter or the impact of higher-than-usual interest rates — being able to […]

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Can Home Loans Cover Renovations? What You Should Know

Did you know you can use a home loan for renovations? Renovation home loans cover the cost of purchasing and renovating a home. If you’re familiar with construction loans, renovation loans are similar. Also called “one-close” loans or renovation mortgages, renovation loans can offer buyers simplified financing for transforming a fixer-upper into an attractive, modernized […]

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What Is Greenwashing?

What Is Greenwashing?

Greenwashing is when a company markets itself as more environmentally friendly than it actually is. Also known as “green sheen,” this tactic is used to attract consumers who prefer products with high environmental standards. The term greenwashing is taken from whitewashing, which is when a company or individual conceals its wrongdoings by presenting a cleaned-up […]

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How to Qualify for a Mortgage: 9 Requirements for a Mortgage Loan

couple in house with moving boxes

Many first-time house hunters lie awake at night worrying, Will I qualify for a mortgage? With the wide variety of loan programs, down payment requirements, and credit thresholds out there, qualifying for a mortgage can feel like a lame choose-your-own-adventure story: “Didn’t prequalify? Return to page 1.” Let’s take some of the mystery out of […]

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Closing Costs: What Are They, And How Much Will You Pay?

couple holding keys

If you’ve saved for a down payment on a new place, congratulations on a major achievement. That’s probably quite a chunk of change, but, sorry to say, you are likely going to have to dig somewhat deeper to afford closing costs on your home. How deep, you ask? Closing costs average 3% to 6% of […]

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What Is a Home Equity Line of Credit (HELOC)?

Woman on laptop at window seat

If you own a home, you may be interested in tapping into your available home equity. One popular way to do that is with a home equity line of credit. This is different from a home equity loan, and can help you finance a major renovation or many other expenses. Homeowners sitting on at least […]

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The Different Types Of Home Equity Loans

The Different Types Of Home Equity Loans

How does a home equity loan work? First, it’s important to understand that the term home equity loan is simply a catchall for the different ways the equity in your home can be used to access cash. The most common types of home equity loans are fixed-rate home equity loans, home equity lines of credit […]

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How to Read a Preliminary Title Report

overhead of couple on laptop

When you’ve decided on a house to buy and entered into escrow, you can expect to receive a preliminary title report. The report will verify ownership and reveal any lurking issues that will not be covered under a subsequent title insurance policy. This is an important step: When you’re buying a home, the preliminary title […]

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