QUALIFY

To meet a mortgage lender's approval requirements.

QUALIFYING RATIOS

Calculations that are used in determining whether a borrower can qualify for a mortgage. They consist of two separate calculations: a housing expense as a percent of income ratio and total debt obligations as a percent of income ratio.

QUITCLAIM DEED

A deed that transfers, without warranty of ownership, whatever interest or title a grantor may have at the time the conveyance is made.