{"id":4198,"date":"2018-07-16T00:07:36","date_gmt":"2018-07-16T00:07:36","guid":{"rendered":"http:\/\/wp2.medialink.me\/?p=4198"},"modified":"2018-07-16T00:07:36","modified_gmt":"2018-07-16T00:07:36","slug":"what-does-ability-to-repay-mean","status":"publish","type":"post","link":"https:\/\/cloud03.titletapsites.com\/newdesign2\/what-does-ability-to-repay-mean\/","title":{"rendered":"What Does Ability To Repay Mean?"},"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\/7afzdrodwg?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>What are the \u201cAbility to repay\u201d rules about?<\/p>\n<p>In a nutshell, as this video shows, new laws require lenders to make a good-faith assessment\u00a0of a borrower\u2019s capacity to pay back their loan over time.<\/p>\n<p>It\u2019s a longer-term view\u00a0that goes beyond immediate income, debt and credit rating.<\/p>\n<p>These new Federal laws- supervised by the CFPB &#8211;\u00a0require lenders to ask more questions &#8211;<\/p>\n<p>about income, assets,\u00a0employment, credit history,\u00a0and monthly expenses &#8211;<\/p>\n<p>as they relate to the proposed loan.<\/p>\n<p>For example, a lender offering a mortgage with a low initial rate\u00a0must try to assess how a borrower will handle\u00a0the later, higher rate as well.<\/p>\n<p>If you\u2019re applying to borrow\u00a0ask whether the program you\u2019re considering\u00a0is a Qualified Mortgage<\/p>\n<p>Ability-to-repay rules are built in\u00a0to loans that meet Qualified Mortgage guidelines.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What are the \u201cAbility to repay\u201d rules about? In a nutshell, as this video shows, new laws require lenders to make a good-faith assessment\u00a0of a borrower\u2019s capacity to pay back their loan over time. It\u2019s a longer-term view\u00a0that goes beyond immediate income, debt and credit rating. These new Federal laws- supervised by the CFPB &#8211;\u00a0require&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-4198","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 Does Ability To Repay Mean? - 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-does-ability-to-repay-mean\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Does Ability To Repay Mean? - New Design 2\" \/>\n<meta property=\"og:description\" content=\"What are the \u201cAbility to repay\u201d rules about? 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