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Qualifying Rate Adjustable rate mortgages (ARMs) often employ a “qualifying rate” that differs from the “start rate.” The qualifying rate may be a pre-determined percentage of interest, expressed as the “highest possible rate of interest at the beginning of the second year”, based on start rate, expressed as the Fully Indexed Accrual Rate (FIAR) or another amount.
Qualifying Ratios Calculations used to determine if a borrower can qualify for a mortgage. They consist of two separate calculations: a housing expense as a percent of income ratio and total debt obligations as a percent of income ratio.


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