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Real Estate Glossary - Q
Qualifying Ratios
Calculations that are used in determining whether a
borrower can qualify for a mortgage. There are two
ratios. The "top" or "front" ratio is a calculation of
the borrower’s monthly housing costs (principle, taxes,
insurance, mortgage insurance, homeowner’s association
fees) as a percentage of monthly income. The "back" or
"bottom" ratio includes housing costs as will as all
other monthly debt.
Quitclaim Deed
A deed that transfers without warranty whatever interest
or title a grantor may have at the time the conveyance
is made. |
