You've probably heard some real estate terms and are wondering what in the world they mean. Use this glossary to look them up! If you are wondering what a word or phrase means and I don't have it in the glossary, please send me an email asking!

Half-bath
Also called a powder room, a half-bath contains a toilet and a sink but no bathtub or shower stall.

Handyman's Special
A house in fixer-upper condition.

Hazard Insurance
Also known as homeowner's insurance or fire insurance, hazard insurance covers physical risks such as fire and wind damage. Lenders usually require coverage for at least the replacement value of the home.

Hip Roof
A pitched roof with sloping sides.

Home Equity Line of Credit
An open-ended line of credit based on a homeowner's accumulated equity. Most loan amounts are limited to 75 to 85 percent of home's appraised value; withdrawals can be made at any time within the credit line's guidelines.

Home Inspection
An examination of a home's construction, condition, and internal systems by an inspector or contractor prior to purchase.

Home Warranty
A type of warranty that covers repairs to certain parts of a house and some fixtures.

Homeowners' Association (HOA)
A group that governs a subdivision, condominium, or planned community. The association collects monthly fees from all owners to pay for common area maintenance, handle legal and safety issues, and enforce the covenants, conditions, and restrictions set by the developer.

Homeowners' Association Dues
Monthly payments due to a homeowners' association, to be used for maintenance and communal expenses. Condominiums, townhouse complexes, and planned unit developments (PUDs) may require monthly homeowners' association dues.

Homestead
A parcel of land used by the owner as a primary residence.

HUD-1 Uniform Settlement Statement
A closing statement or settlement sheet that outlines all closing costs on a real estate transaction or refinancing.

HVAC
Heating, ventilation, and air conditioning.