| Kelowna Real Estate Jack McKnight (250) 862-1984 |
If your buying or selling from someone else. YOU DON"T KNOW JACK |
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Mortgage Glossary
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QUALIFICATION RATE:
The rate of interest used to calculate whether or not a borrower qualifies for a mortgage.
QUALIFICATION REQUIREMENTS:
Those guidelines set by lenders to be used when deciding whether or not an applicant will be given a loan.
QUALIFIED ACCEPTANCE:
Also known as "conditional acceptance". Agreeing to enter a contract provided certain conditions are met.
QUALIFIED BUYER:
A purchaser who has been pre-approved for financing.
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This glossary is a compilation of terms commonly used in the real estate, mortgage and construction industries. This publication has been created to provide general overview information with regard to these industries, and while generic, this information may not be applicable to all juristictions. It is provided with the understanding that the publisher is not engaged in the rendering of legal, mortgage or any other professional advice or services. If legal advice or other expert assistance is required or needed, the services of the appropriate professional should be sought and you should not rely on the information found herein. | |
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