(6) The underwriting takes into account the monthly payment for mortgage-related obligations, using
both the maximum interest rate that may apply during the first five years, and the periodic loan payments of principal and interest that will repay the loan amount over the scheduled loan term or, for adjustable rate loans, the outstanding principal balance over the remaining term of the loan as of the date the interest rate adjusts to the maximum interest rate, assuming the consumer will have made all required payments as due prior to that date.
Agency Loans Remain As Covered Transactions
Loans that qualify for federally insured or guaranteed FHA, VA and USDA/RHS mortgage loan programs will remain as covered transactions under the General QM Final Rule.