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Real Estate Dictionary
Welcome > Resources > Real Estate Dictionary - A

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

H

Hazard insurance

Insurance protection for specified losses due to natural causes, such as fire, floods, earthquake, tornadoes, and other "acts of God"

Heir

An individual who will potentially inherit an interest in land from someone who dies

Hiatus

A gap or space between two parcels of lands that is not included in the legal description of either parcel

Home equity line of credit, or Home equity loan

A mortgage loan (usually not the primary mortgage) or line of credit which gives the property owner the option to obtain cash advances from the loan proceeds, using his or her residence as collateral, but which is not to exceed a pre-arranged amount of the owner's total equity in the property

Homeowners' association

A nonprofit association of individual owners of units in a multi-unit structure (either a planned unit development, or a condominium) that manages the common areas of that structure. In a planned unit development (PUD) project, the association holds title to the common elements, whereas in a condominium project, it holds no title to the common elements

Homeowner's insurance

An insurance policy available to residential real estate owners that protects homeowners against financial loss from fire, theft, public liability, and other risks

Homestead

Real estate that is owned and utilized as the primary family residence, protected in some states as exempt from the claims of creditors

Homestead deed

A document filed in the land records asserting a homestead exemption, protecting a variable amount of his assets (depending on which state) against the claims of creditors

Housing ratio, or Debt-to-income ratio

The percentage that results from dividing a borrower's housing expenses by his/her gross monthly income, used by the lender to evaluate an applicant's qualification for a loan

HUD-1 statement

The document used in closing a real estate transaction (also known as a "closing statement" or a "settlement sheet") which itemizes the funds that are payable at closing, including broker commissions, loan costs, and escrow amounts, and which provides a summary of the seller's net proceeds and the buyer's net payment at closing. It is required by the US Department of Housing and Urban Development (HUD) whenever federally-related mortgages are being made on residential properties

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z



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Real Estate Trivia
Q 
What 45,000 sq.ft. home on 5-acres on Lake Washington is described as an 'adventurous house' by its owner?

A 
The home of Microsoft's Bill Gates ($40+ million) has a wall of 24 video monitors featuring art and film and a 60-foot pool.
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First Coast Home Hunters, REALTOR®, real estate agent and broker for Jacksonville, St. Augustine and Orange Park, Florida home listings, property and land for sale - NUMBER1EXPERT(tm)

First Coast Home Hunters Team of
All Real Estate Options, Inc

1857 Wells Rd, Suite #215
Orange Park, Florida 32073
Direct: 904-207-2124
Fax: 904-458-8975
Contact: Info@FirstCoastHomeHunters.com

My wife and I work together as Buyer Agents in the Jacksonville, St Augustine & Orange Park Real Estate Markets... We have been truly blessed to be joined by a wonderful team of Buyer Specialists who spend 99% of their work days assisting buyers.

To be successful Jacksonville Realtors we all know we must be available when our clients need help so we ALL personally sacrifice to wrap our lives around our client's needs...and this dedication has allowed us to help hundreds of families to find the right place to call "HOME." Click here to see what others have had to say about our team's heart & dedication.

We are experienced in most loan programs & can help make sure you understand the pros/cons of each option so YOU can make informed decisions. For all of you 1st Timers we understand 1st Time Buyer Programs too and they still exist!!. They generally come with FREE $$ to assist with the down payment & closing costs. There are still a couple of 100% Financing options available such as VA Loans or USDA Loans in parts of St Johns County or Southern Clay County. Military Members may even qualify for a one year extension of the Home Buyer Tax Credit. We are only a text, email or phone call away and would enjoy joining in your home hunting if you would allow us to. :-)

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