A | B | C | D | E | F | G | H | I | JK | L | M | N | O | P | Q | R | S | T | U | V | W | YZ |     Home Hard Equity High interest rate financing. Hard Money Lender A Lender that customarily funds loans by private money sources and investors but not banks. Interest rates and points can be higher. Hard Money Lenders Lenders that customarily fund loans by private money sources and investors but not banks. Interest rates and points can be higher. Hard Money Loan An equity based loan with high interest rates and with flexible guidelines. Hazard Insurance Insurance to protect the homeowner and the lender against physical damage to a property from fire, wind, vandalism, or other hazards. Hedging The sale or purchase of future mortgage contracts by a mortgage banker or lender for the purpose of protecting cash transactions made at a future date. Heir The person who by law receives the estate of a deceased person. Hereditaments Anything that may be inherited or anything considered real property. Hidden Defect An encumbrance on a title that is not apparent in the public records. Holdback A portion of a loan commitment withheld until a specified event occurs, such as a rental or construction. Home Equity Line of Credit (heloc) A credit line that is secured by a second deed of trust on a house. Equity lines of credit are revolving accounts that work like a credit card, which can be paid down or charged up for a pre-determined term, usually 5 years, with interest payments only. After this term, the loan becomes a fixed second and no more equity can be taken. Homeowner's Insurance An insurance policy that combines liability coverage and hazard insurance. Homeowner's Warranty A type of insurance that covers repairs to specified parts of a house for a specific period of time. Homestead The home and property of the head of the household. Some states allow statutory exemptions that protect homestead property against the rights of creditors. Housing Ratio The ratio of the monthly housing payment in total (PITI - Principal, Interest, Taxes, and Insurance) divided by the gross monthly income. This ratio is sometimes referred to as the top ratio or front end ratio. Housing Starts The number of homes that construction has began on. These figures are used to determine the availability of housing, need for mortgage loans, and labor and materials, etc. HUD (Department of Housing and Urban Development). A cabinet department responsible for the implementation and administration of government housing and urban development programs. Hybrid Investment An investment that is a combination of both debt and equity. Hypothecate Having pledged or mortgaged a security without delivery to the lender.