Mortgage and Loan Glossary (Q)
A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
quadrangle
A square-shaped land area, 24 miles on each side. Frequently used in
the government rectangular survey method of land description.
qualified thrift lender
A lender who specializes in home mortgage finance under the rules established
by the Financial Institutions Reform, Recovery and Enforcement Act
(FIRREA).
qualifying ratios
Simple calculations used in determining whether a borrower can qualify
for a mortgage. They usually consist of two separate calculations:
1) Monthly housing expenses as a percent of total gross monthly income.
2) Total monthly debt obligations as a percent of gross monthly income.
quantity survey
A method used by appraisers to estimate how much it would cost to reproduce
an improvement.
quitclaim deed
A deed that transfers, without warranty, whatever interest or rights
a grantor may have at the time the transfer is made. Often used to
remove a possible cloud on the title.
quiet title action
A legal action to eliminate adverse claims on a property: to "quiet" the
title.