Outrageously Funny Word Dictionary :: Mortgage qualifier

👉 The slang term you're asking about is "mortgage qualifier" – that phrase is a bit of a mouthful. It refers to a person who has good credit but doesn't qualify for the traditional mortgage loan because they have too much debt, usually in excess of what the lender can afford to cover.

An example sentence would be: "I'm so glad I asked the mortgage qualifier how long my underwater mortgage is!"