HELP (Homebuyer Education Learning Program) - An FHA educational program that counsels people about the homebuying process. HELP covers topics like budgeting, finding a home, getting a mortgage, and home maintenance. In most cases, completion of the program may entitle the homebuyer to a reduced initial FHA mortgage insurance premium - from 1.75% to 2.25% of the home purchase price.

HVAC - Acronym for Heating, Ventilation and Air Conditioning

Hard cost - Actual cost of building property improvements.

Hazard insurance - Insurance against losses caused by perils which are commonly covered in policies described as a "Homeowner Policy".

High-rise - In a downtown commercial district, this usually means a building 25 or more stories above ground level. In suburban areas, it usually a building more than seven or eight stories high.

Highest and best use - The reasonably probable and legal use of vacant land or an improved property that gives it the highest value for what is physically possible and financially feasible to build and appropriately support.

Holding period - The amount of time an investor plans to retain ownership of a property after buying and before selling.

Hold-over tenant - A tenant retaining possession of a leased property after a lease's expiration.

Home inspection - An examination of a building's structure and mechanical systems to determine a home's safety. A home inspection makes the potential home buyer aware of any repairs that may be needed.

Homeowner's insurance - Insurance that covers damage to the insured's home and personal assets included in the policy's coverage. Liability claims made against the insured are subject to the policy terms, conditions, provisions, losses not insured provision and exclusions.

Home warranty - A warranty that offers protection for mechanical systems and attached appliances against unexpected repairs not covered by homeowner's insurance. Coverage extends for a specific period of time and does not include the home's structure.

Homeowner insurance - An insurance policy that combines protection against damage to a dwelling and its contents along with protection against claims of negligence or inappropriate action that resulted in someone's personal injury or property damage.