Definition
Homestead Exemption
A property tax reduction available on a primary residence in many states, and in some states a protection against certain creditors.
Nearby terms
Home Equity Loan
A fixed-rate lump-sum loan secured as a second lien against the property.
Homeowners Association
An organisation governing a community or building, funded by dues and empowered to levy assessments and enforce covenants.
Housing Ratio
The front-end debt-to-income ratio, measuring only the housing payment against gross income.
HUD-1
The former settlement statement, replaced by the Closing Disclosure for most consumer mortgages in 2015 but still used in some cash and commercial transactions.
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