Mortgage Glossary

Qualifying Guidelines

Criteria used to determine eligibility for a loan.

Qualifying Ratios

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.

Quality Control

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.