Hazard insurance

An insuarance cover against natural and other hazards like fire, storm, vandalism, etc to physical property

Half bath

A bathroom that contains a toilet and a sink.

Hard inquiry

An indication on a person's credit report that someone has asked for a copy of the individual's report. Hard inquiries happen as a result from a person applying for credit, such as a mortgage, a car loan, a credit card or a rental application.


acronym for Home Equity Line of Credit

High-LTV equity loan

A home equity loan that creates a total loan-to-value ratio of up to 125 percent or more.

Historic structure

A building listed in the National Register of Historic Places and certified as historic by the U.S. Secretary of the Interior.

Home appraisal

A written analysis of the estimated value of your property. A professional appraiser who has training and insight into the marketplace prepares the appraisal report. This report helps determine your home's fair market value based on recent sales in your neighborhood.

Home appreciation

A term which describes the increase in market value of real estate, or the increase in value of your house or property.

Home equity

The part of a home's value that the mortgage borrower owns outright; the difference between the fair market value of the home and the principal balances of all mortgage loans.

Home equity conversion mortgage

Sometimes called a reverse mortgage, a mortgage which enables older homeowners to convert the equity in their homes into cash.

Home equity debt

Debt secured by your home. Home equity interest usually is deductible as an itemized deduction.

Home equity line of credit

A variation of a home loan, paid as revolving debt that is backed by the portion of the home's value that the borrower owns outright. Interest paid on a home equity line of credit can be used as a deductible. This credit allows the homeowner to write checks against the equity on an ongoing basis to pay for multiple expenses rather than one big sum.

Home equity loan

A loan based on the amount of equity a homeowner has in the property.

Home inspection

A thorough examination of the house's visible structural parts and mechanical systems made before purchase.

Home ownership and equity protection act

A federal law made to discourage predatory and unfair lending in mortgages and home equity loans.

Home warranty

A policy that guarantees workmanship on construction of a home and the operations of some appliances, and covers repairs for a limited time period.

Homeowner's insurance

A policy that includes hazard coverage, loss or damage to property, as well as coverage for personal liability and theft.


The place where one puts their home and is protected by law against forced sale to meet debt.

Household income

The total income of all members of a household. An important calculation when applying for a joint credit situation.

Housing discrimination

Illegal practice of discriminating against buyers or renters of dwellings on the basis of race, color, religion, national origin, sex, family status or disability.

Housing expense ratio (or front end ratio)

The percentage of before-tax income that goes toward a monthly house payment. The rule of thumb is that it shouldn't exceed 28.


Housing and Urban Development. The U.S. government agency established to govern federal housing and community development programs. HUD oversees the Federal Housing Administration (FHA).

HUD-1 statement

A document prepared by a closing agent with an itemized listing of closing costs including escrow deposits for taxes, commissions, loan fees, hazard insurance, and mortgage insurance payable at the closing of the property. Also called closing statement or settlement sheet.


Heating, Ventilation and Air Conditioning; a home's heating and cooling system.