| Real Estate Terminology, Wording |
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| Gladwin Real Estate Information |
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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. 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 |