Real Estate definitions beginning with Q

As determined by a lender, the ability of the borrower to repay a mortgage loan based on the borrower's credit history, employment status, assets, debts and income.
Ginnie Mae - Cite This Source - This Definition
Browse Related Terms: Creditworthiness, Creditworthy, Pre-Approval Letter, Pre-Qualification, Pre-Qualification Letter, Pre-Qualify, Qualifying Guidelines

Guidelines utilized by lenders to determine how much money a homebuyer is qualified to borrow. Lending guidelines typically include a maximum housing expense to income ratio and a maximum monthly expense to income ratio.
US Department of Housing and Urban Development - Cite This Source - This Definition
Calculations that are used in determining the loan amount that a borrower qualifies for, typically a comparison of the borrower's total monthly income to monthly debt payments and other recurring monthly obligations.
Federal Trade Commission - Cite This Source - This Definition
Browse Related Terms: Back End Ratio (debt ratio), Debt-to-Income Ratio, Front End Ratio, Housing Expense Ratio, housing expenses-to-income ratio, income-to-debt ratio, Mortgage Qualifying Ratio

A system of safeguards to ensure that loans are originated, underwritten and serviced according to the lender's standards and, if applicable, the standards of the investor, governmental agency, or mortgage insurer.
Federal Trade Commission - Cite This Source - This Definition
Browse Related Terms: HELP, Loan Servicer, Mortgage banker/Mortgage company, Mortgage servicing, PITIO, Tax and insurance escrow, Taxes and Insurance

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