Definition
Housing Ratio
The front-end debt-to-income ratio, measuring only the housing payment against gross income.
Nearby terms
Homeowners Association
An organisation governing a community or building, funded by dues and empowered to levy assessments and enforce covenants.
Homestead Exemption
A property tax reduction available on a primary residence in many states, and in some states a protection against certain creditors.
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.
Impound Account
Another term for an escrow account, used more commonly in western states.
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