| Term | Definition |
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| U.S. Department. of Housing and Urban Development | A federal agency that oversees the Federal Housing Administration and a variety of housing and community development programs.
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| Underlayment | A layer of wood between the subfloor and the floor.
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| Underwriting | The process lenders go through to evaluate the risks posed by a particular borrower and to set appropriate conditions for the loan.
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| Undisclosed heir | A person who claims the right to a piece of property after the death of an owner without a will.
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| Undisclosed spouse | An unidentified marital partner who can claim the right to a piece of property.
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| Unrecorded deed | An unrecorded deed transfers ownership from one party to another without being officially recorded.
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| Unsecured loan | Any loan that is not backed by collateral.
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| Upgrades | Options than the standard carpeting, lighting, finish carpentryand other amenities offered to all buyers in a new-home project.
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| Upzoning | The process in which a property is zoned from a lower to a higher use.
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| Urban sprawl | The unplanned expansion of development over a large area.
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| Usury | A reference to illegally excessive interest charged on any loan.
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