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Q

Qualifying Ratio

A ratio calculated by a lender to determine how much a potential buyer can borrow.

Quitclaim Deed

A deed which transfers whatever interest the maker of the deed may have in the particular parcel of land. A quitclaim deed is often given to clear the title when the grantor's interest in a property is questionable. By accepting such a deed the buyer assumes all the risks. Such a deed makes no warranties as to the title, but simply transfers to the buyer whatever interest the grantor has.

R

Rate-Improvement Mortgage

A loan with a clause that entitles a borrower to a one-time interest rate cut without going through refinancing.

Real Estate

Land and anything permanently affixed to it, including buildings.

Refinancing

The process of replacing an older mortgage with a new mortgage that has better terms.

Rehabilitation Mortgage

A mortgage that provides for the costs of repairing and improving a resale home or building.

Resale Value

A property's future value, which can be affected by many factors including the surrounding neighborhood, school district scores, and economic and housing market conditions.

Return on Investment

The amount of profit a property generates.

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