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Houston Mortgage > Glossary >
Home Equity > H 1-10
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Half-bath
A room that contains a toilet and sink, but no tub or shower.
Hazard insurance
Insurance coverage that compensates for physical damage to a property from natural disasters such as fire or other hazards. Depending where a piece of property is located, lenders may also require flood insurance or policies covering windstorms (hurricanes) or earthquakes.
Hectare
An area equal to 100 meters by 100 meters
HELOC
An acronym for home equity line of credit.
High-LTV equity loan
A home equity loan that creates a total loan-to-value ratio of up to 125 percent or more. When the total principal of loans leaves homeowners with debt that exceeds the fair market value of the home, the interest paid on the portion of the loan above that value may not be tax deductible.
Historic preservation
A movement to protect buildings with historic value from destruction or extensive renovation.
Historic structure
A building listed in the National Register of Historic Places and certified as historic by the U.S. Secretary of the Interior.
Home equity
The part of a home's value that the mortgage borrower owns outright; the difference between the fair market value of the home and the principal balances of all mortgage loans.
Home Equity Debt
Debt secured by your home. Home equity interest usually is deductible as an itemized deduction.
Home equity line of credit
A home equity line of credit is an open-ended loan, paid as revolving debt, that is backed by the portion of the home''s value that the borrower owns outright. Interest paid on a home equity line of credit is usually deductible.
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Houston Home Mortgage