Half-bath Also called a powder
room, a half-bath contains a toilet and a
sink but no bathtub or shower stall.
Hazard insurance This provision
of homeowners insurance covers damage by
fire, wind or other disaster. It is required
by all lenders before a loan is approved.
Header Crossbeams above windows
and doors.
Heat pump An electric cooling
and heating system.
Hectare The equivalent of 2.471
acres.
High density The concentration
of housing units in a specific area or on a
specific property.
High-rise Any building higher
than six stories.
Hip roof A pitched roof with
sloping sides.
Historic preservation The
physical rehabilitation of a historic home
or building, and the movement of the same
name begun in the 1960s in the U.S. to
preserve and protect landmarks and urban
neighborhoods.
Historic structure A home or
building listed in the National Register of
Historic Places and certified as historic by
the U.S. Secretary of the Interior.
Home equity conversion mortgage Loans
made to older owners who want to convert
equity into money. Because borrowers are
qualified on the basis of the value of their
home, e, the loan is not the same as a home
equity loan. Also known as reverse
mortgages.
Home equity loan A loan that
allows owners to borrow against the equity
in their homes.
Home inspection An examination
of a home's construction, condition and
internal systems by an inspector or
contractor prior to purchase.
Homeowners' association A group
that governs a modern subdivision or planned
community. An association collects monthly
fees from all owners to pay for maintenance
of common areas, handle legal and safety
issues, and enforce the covenants,
conditions and restrictions set by the
developer.
Homeowners' insurance This
insurance includes hazard coverage for any
damages that may affect the value of a
house, in addition to personal liability and
theft coverage.
Homeowners' warranty Special
insurance policies that cover certain home
repairs for a specified amount of time.
Home rule The power of a local
government to adopt its own land-use
regulations.
Homesteading A document that to
protects some of a home's equity from
lawsuits.
Home warranty A type of
insurance that covers repairs to certain
parts of a house and some fixtures.
Hopper window A window that
contains a single sash that tilts inward.
Hose Bibb A threaded faucet
connection for devices such as a washing
machine.
Housing discrimination The
illegal practice of denying an individual or
group the right to buy or rent a home based
on race, color, religion, national origin,
sex, disability or family status.
Housing expense ratio The
percentage of gross monthly income devoted
to housing costs.
House wrap A polyethylene
barrier wrapped around a house to save
energy.
HUD-1 Uniform Settlement Statement A
closing statement or settlement sheet that
outlines all closing costs on a real estate
transaction or refinancing.
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