Glossary of Real Estate terms - H click on the letter
High Ratio Mortgage A mortgage loan in which the amount borrowed exceeds 80% of the appraised value of the property. Home Equity Line of Credit (HELOC) A mortgage loan, usually in second position, that allows the borrower to obtain cash drawn against the equity of his home, up to a predetermined amount. Home Inspection A thorough inspection by a professional that evaluates the structural and mechanical condition of a property. A satisfactory home inspection is often included as a subject condition by the buyer. Homeowner's Insurance An insurance policy that combines personal liability insurance and hazard insurance coverage for a dwelling and its contents. |
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