Click on a link below
for an alphabetized list of Real Estate and Mortgage
Terms.
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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.
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