Glossary of Real Estate Terms

There are 125 entries in this glossary.
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H

Term Definition
Hazard insurance

This insurance coverage comes in the event of physical damage to a property from fire, wind, vandalism, or other hazards.

HOA

A homeowners' association (abbrev. HOA) is an organization created by a real estate developer for the purpose of developing, managing and selling a development of homes.

Home Equity Line of Credit

Home equity line of credit is a mortgage loan. This, usually happens in second position, and allows the borrower to get cash drawn against the equity of his home, up to a predetermined amount

Home Inspection

Home Inspection is a thorough inspection by a professional which evaluates the structural and mechanical condition of a property. A satisfactory home inspection is often included as a contingency by the purchaser.

Homeowner's Insurance

This is an insurance policy which combines personal liability insurance and hazard insurance coverage for a residence and its inhabitant.

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