Qualification Requirements

Definition of "Qualification Requirements"

Daleen O
Daleen O'Dell, Real Estate Agent RE/MAX Realty Team

Standards imposed by lenders as conditions for granting loans, including maximum ratios of housing expense and total expense to income, maximum loan amounts, maximum loan-to-value ratios, and so on. Qualification requirements are less comprehensive than underwriting requirements, which take account of the borrower's credit record.

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