{"id":4195,"date":"2018-07-16T00:07:36","date_gmt":"2018-07-16T00:07:36","guid":{"rendered":"http:\/\/wp2.medialink.me\/?p=4195"},"modified":"2018-07-16T00:07:36","modified_gmt":"2018-07-16T00:07:36","slug":"what-is-a-qualified-mortgage","status":"publish","type":"post","link":"https:\/\/cloud03.titletapsites.com\/newdesign2\/what-is-a-qualified-mortgage\/","title":{"rendered":"What Is A Qualified Mortgage?"},"content":{"rendered":"<div class=\"wistia_responsive_padding\" style=\"padding:56.25% 0 28px 0;position:relative;\">\n<div class=\"wistia_responsive_wrapper\" style=\"height:100%;left:0;position:absolute;top:0;width:100%;\"><iframe loading=\"lazy\" src=\"https:\/\/fast.wistia.net\/embed\/iframe\/qdbhqzbedd?dnt=1&#038;videoFoam=true\" title=\"Wistia video player\" allowtransparency=\"true\" frameborder=\"0\" scrolling=\"no\" class=\"wistia_embed\" name=\"wistia_embed\" allowfullscreen mozallowfullscreen webkitallowfullscreen oallowfullscreen msallowfullscreen width=\"100%\" height=\"100%\"><\/iframe><\/div>\n<\/div>\n<p><script src=\"https:\/\/fast.wistia.net\/assets\/external\/E-v1.js\" async><\/script><\/p>\n<p>As this video explains, \u00a0Federal laws put into effect in 2014 and \u00a0supervised by the Consumer Financial Protection Bureau\u00a0define lending practices and loan terms for a new category\u00a0called \u201cQualified Mortgages.\u201d<\/p>\n<p>They provide stable loan features for consumers\u00a0and improve legal protection for lenders\u00a0who follow the guidelines.<\/p>\n<p>These guidelines require lenders to assess\u00a0each borrower\u2019s ability to repay their mortgage loan.<\/p>\n<p>As of 2014, guidelines\u00a0require that a borrower\u2019s monthly DEBT &#8211; including mortgage &#8211; be no higher than 43% of their monthly gross INCOME<\/p>\n<p>The laws also define unacceptable loan terms:<\/p>\n<ul>\n<li>interest-only loans<\/li>\n<li>terms over 30 years<\/li>\n<li>negative-amortization loans that increase principal over time<\/li>\n<li>most balloon loans<\/li>\n<\/ul>\n<p>do not meet the Qualified Mortgage guidelines.<\/p>\n<p>The laws aim\u00a0to provide consumers with objective guidance \u00a0about reasonable debt from the CFPB\u00a0and in return, to grant lenders who follow that guidance\u00a0with higher levels of protection from lawsuits.<\/p>\n<p>Ask your lender about Qualified Mortgage options\u00a0for your home purchase.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As this video explains, \u00a0Federal laws put into effect in 2014 and \u00a0supervised by the Consumer Financial Protection Bureau\u00a0define lending practices and loan terms for a new category\u00a0called \u201cQualified Mortgages.\u201d They provide stable loan features for consumers\u00a0and improve legal protection for lenders\u00a0who follow the guidelines. These guidelines require lenders to assess\u00a0each borrower\u2019s ability to repay&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[8],"tags":[],"class_list":["post-4195","post","type-post","status-publish","format-standard","hentry","category-mortgages"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What Is A Qualified Mortgage? - New Design 2<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cloud03.titletapsites.com\/newdesign2\/what-is-a-qualified-mortgage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Is A Qualified Mortgage? - New Design 2\" \/>\n<meta property=\"og:description\" content=\"As this video explains, \u00a0Federal laws put into effect in 2014 and \u00a0supervised by the Consumer Financial Protection Bureau\u00a0define lending practices and loan terms for a new category\u00a0called \u201cQualified Mortgages.\u201d They provide stable loan features for consumers\u00a0and improve legal protection for lenders\u00a0who follow the guidelines. 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