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Qualifying ratios

Calculations that lenders compute into two ratios to determine how much a potential buyer can borrow. The two ratios are called “front” and “back” ratios. The “front” ratio is a calculation based on the borrower’s monthly housing costs as a percentage of monthly income. The “back” ratio includes monthly housing costs plus additional monthly costs/debts.

Quit-claim deed

A document that releases a party from any interest in a piece of real estate.

Some definitions come from the Certified Commercial Investment Member Institute (CCIM).