Real Estate Glossary

Q

Qualification Ratios
Ratios applied by lenders to determine the mortgage amount a borrower qualifies for.

The housing expense-to-income ratio is the PITI from the proposed mortgage loan divided by the total gross income. The total obligations-to-income ratio is the PITI plus all other monthly recurring payments divided by total gross income.

Quit-Claim Deed
A deed which, when granted, relinquishes all interest, title or claim to a property without representing the validity of or making any warranties with regard to the title to the property.