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Frequently
Asked Questions
Glossary
of Real Estate Terms
Glossary for "H"
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.
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