| Real Estate Terminology, Wording |
Gladwin Real Estate Information
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.
Quiet Title
A court action to remove a claims or objections of other parties on a title
Quitclaim Deed
A deed that releases whatever interest or title a grantor may hold in a property, without claiming any obligations or warranties
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.
Quiet Title
A court action to remove a claims or objections of other parties on a title
Quitclaim Deed
A deed that releases whatever interest or title a grantor may hold in a property, without claiming any obligations or warranties