Qualifying ratios

Qualifying ratios are calculations that represent an individual´s gross monthly expenses to his or her fixed monthly debt.  Lending institutions compute qualifying ratios in order to determine how much money a potential home buyer can borrow for the purchase of the home.  A qualifying ratio reveals the amount of a person´s total income that goes toward the same, specific expenses each month, and thereby shows how much money is left of the individual´s income to devote to the purchase of a home (in most cases, to the repayment of a mortgage issued by the lending institution).

Queen Anne style

Queen Anne style is a type of architecture that originate in the Victorian era, the 19^th century time during which Queen Victoria ruled in Great Britain.  In the United States, the Queen Anne style first originated in San Francisco.  Houses built in the Queen Anne style are typically characterized by steep roofs; asymmetrical shapes; front-facing gables; single-story porches that extend across one or two sides of the house; textured wall surfaces; ornate shingles or masonry; round or square towers; and bay windows.  Most Queen Anne style homes are associated with excessive decoration and ornamentation.

Quit-claim deed

A quit-claim deed is a document that releases a party from any interest in a piece of real estate.  Quit-claim deeds transfer, in writing, all of a person´s rights in and responsibilities related to a particular parcel of property to another.  However, unlike a grant deed, a quitclaim deed does not guarantee that the person who is transferring the property, known as the grantor, actually has a full legally valid claim to the property.  Because of this limitation, a quit-claim deed is generally much easier to obtain than a full grant deed; however, financing for a property obtained by a quit-claim deed is harder to obtain and may carry a high interest rate.