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| Each letter will take you to a list of financial terms and their meaning. |
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| H |
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Housing Ratio (Income Ratio)
One of a number of financial calculations carried out by a lender when applying for a conventional loan to decide if a borrower can afford a specific monthly payment. The housing ratio is the overall monthly payment including taxes and insurance divided by the total monthly income. Normally acceptable income ratios for Conventional Loans are 28-33% and FHA Loans are 29-31%. |
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Homeowners Association Dues
Fees which are imposed by a homeowners' association or condominium for common areas maintenance. |
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High Ratio Loan
Types of mortgage loans in excess of 80% of the loan amount divided by the lower of the appraised value or sales price. |
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Hazard Insurance
Form of insurance in which the insurance company protects the insured from certain losses, like as fire, storms, vandalism or other natural causes. |
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