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.
Mortgage Terminology
It is extremely important to have a basic understanding of today’s mortgage terminology. When you understand the fundamentals, you will be better prepared to make informed decisions in connection with your mortgage. Use the menu below to navigate alphabetically to the term you are looking for.
Quitclaim Deed
A deed transferring ownership of a property but does not make any guarantee of clear title.
