Harbor Line

An subjective line set by ranking officials in navigable rivers that outlaws any structures from being built passed this line.

Hazard Insurance

A premium that is paid to the insurer that covers the insured against fire damage and other natural disasters.


The person that will inherit lands or other property from a deceased person who did not have an official will.

Home Equity Conversion Mortgage

A reverse annuity mortgage that guarantees the borrower will receive monthly payments in the case that the lender can no longer make payments to the borrower.

Home Equity Loan

A loan secured by the equity of a home that is used for home improvements, major expenses, or debt consolidation.

Home Inspection Report

A comprehensive report completed by a qualified inspector that includes both structural and mechanical systems.

Home Repair Loan

A short-term loan, usually lasting 10 years or less, that is used for repairs and additions to existing structures without affecting the mortgage loan.

Home Warranty Loan

A loan that covers expenses regarding failures in mechanical systems within a property such as plumbing, heating systems, or electrical.

Housing and Urban Development

A U.S. Government agency that oversees the Federal Housing Administration; this agency implements federal housing and community development programs.

Housing Code

Local municipalities set regulations regarding minimum structural and sanitation expectations for residential buildings.

HUD 1- Settlement Statement

A form that itemizes the closing costs associated with purchasing a home. This statement is a balance sheet that shows the source of funds and the distribution of funds in connection with the purchase or mortgaging of a residential property.

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