According to the Consumer Financial Protection Bureau, banks must not offer mortgage loans to households for whom the monthly mortgage payments costs more than of their income.

Question

Quizplus · Accepted Answer

The Consumer Financial Protection Bureau's "Ability-to-Repay/Qualified Mortgage" rule states that a borrower's debt-to-income ratio cannot exceed 43%. This means that the borrower's total monthly debt payments, including the mortgage payment, should not be more than 43% of their gross monthly income. Therefore, option C, 43 percent, is the correct choice.

According to the Consumer Financial Protection Bureau, Banks Must Not