{"id":4198,"date":"2017-01-07T01:09:04","date_gmt":"2017-01-07T06:09:04","guid":{"rendered":"http:\/\/wp2.fastforwardstories.com\/?p=4198"},"modified":"2017-01-07T01:09:04","modified_gmt":"2017-01-07T06:09:04","slug":"what-does-ability-to-repay-mean","status":"publish","type":"post","link":"https:\/\/trumantitle.com\/2017\/01\/07\/what-does-ability-to-repay-mean\/","title":{"rendered":"What Does Ability To Repay Mean?"},"content":{"rendered":"<p><script src=\"https:\/\/fast.wistia.com\/assets\/external\/E-v1.js\" async><\/script><\/p>\n<div class=\"wistia_responsive_padding\" style=\"padding:56.25% 0 0 0;position:relative;\">\n<div class=\"wistia_responsive_wrapper\" style=\"height:100%;left:0;position:absolute;top:0;width:100%;\">\n<div class=\"wistia_embed wistia_async_3qu1j1w0w3 dnt=1 videoFoam=true\" style=\"height:100%;position:relative;width:100%\">\n<div class=\"wistia_swatch\" style=\"height:100%;left:0;opacity:0;overflow:hidden;position:absolute;top:0;transition:opacity 200ms;width:100%;\"><img src=\"https:\/\/fast.wistia.com\/embed\/medias\/3qu1j1w0w3\/swatch\" style=\"filter:blur(5px);height:100%;object-fit:contain;width:100%;\" alt=\"\" aria-hidden=\"true\" onload=\"this.parentNode.style.opacity=1;\" \/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>What are the &#8220;Ability to repay&#8221; rules about?<\/p>\n<p>In a nutshell, as this video shows, new laws require lenders to make a good-faith assessment&#160;of a borrower&#8217;s capacity to pay back their loan over time.<\/p>\n<p>It&#8217;s a longer-term view&#160;that goes beyond immediate income, debt and credit rating.<\/p>\n<p>These new Federal laws- supervised by the CFPB -&#160;require lenders to ask more questions &#8211;<\/p>\n<p>about income, assets,&#160;employment, credit history,&#160;and 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&#160;must try to assess how a borrower will handle&#160;the later, higher rate as well.<\/p>\n<p>If you&#8217;re applying to borrow&#160;ask whether the program you&#8217;re considering&#160;is a Qualified Mortgage<\/p>\n<p>Ability-to-repay rules are built in&#160;to loans that meet Qualified Mortgage guidelines.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What are the &#8220;Ability to repay&#8221; rules about? In a nutshell, as this video shows, new laws require lenders to make a good-faith assessment&#160;of a borrower&#8217;s capacity to pay back their loan over time. It&#8217;s a longer-term view&#160;that goes beyond immediate income, debt and credit rating. These new Federal laws- supervised by the CFPB -&#160;require&hellip;<\/p>\n","protected":false},"author":51,"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":""},"categories":[8],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What Does Ability To Repay Mean? - Warrensburg, Higginsville, Lexington, MO | Truman Title, Inc.<\/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:\/\/trumantitle.com\/2017\/01\/07\/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? - Warrensburg, Higginsville, Lexington, MO | Truman Title, Inc.\" \/>\n<meta property=\"og:description\" content=\"What are the &#8220;Ability to repay&#8221; rules about? In a nutshell, as this video shows, new laws require lenders to make a good-faith assessment&#160;of a borrower&#8217;s capacity to pay back their loan over time. It&#8217;s a longer-term view&#160;that goes beyond immediate income, debt and credit rating. These new Federal laws- supervised by the CFPB -&#160;require&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trumantitle.com\/2017\/01\/07\/what-does-ability-to-repay-mean\/\" \/>\n<meta property=\"og:site_name\" content=\"Warrensburg, Higginsville, Lexington, MO | Truman Title, Inc.\" \/>\n<meta property=\"article:published_time\" content=\"2017-01-07T06:09:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/trumantitle.com\/wp-content\/uploads\/sites\/52\/2022\/11\/Truman_Title_SC_Logo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"trumantitle.com\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"trumantitle.com\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/trumantitle.com\/2017\/01\/07\/what-does-ability-to-repay-mean\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/trumantitle.com\/2017\/01\/07\/what-does-ability-to-repay-mean\/\"},\"author\":{\"name\":\"trumantitle.com\",\"@id\":\"https:\/\/trumantitle.com\/#\/schema\/person\/711acd1c6ec028c5eb6aaa77997a095b\"},\"headline\":\"What Does Ability To Repay Mean?\",\"datePublished\":\"2017-01-07T06:09:04+00:00\",\"dateModified\":\"2017-01-07T06:09:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/trumantitle.com\/2017\/01\/07\/what-does-ability-to-repay-mean\/\"},\"wordCount\":164,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/trumantitle.com\/#organization\"},\"articleSection\":[\"Mortgages:\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/trumantitle.com\/2017\/01\/07\/what-does-ability-to-repay-mean\/\",\"url\":\"https:\/\/trumantitle.com\/2017\/01\/07\/what-does-ability-to-repay-mean\/\",\"name\":\"What Does Ability To Repay Mean? - Warrensburg, Higginsville, Lexington, MO | Truman Title, Inc.\",\"isPartOf\":{\"@id\":\"https:\/\/trumantitle.com\/#website\"},\"datePublished\":\"2017-01-07T06:09:04+00:00\",\"dateModified\":\"2017-01-07T06:09:04+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/trumantitle.com\/2017\/01\/07\/what-does-ability-to-repay-mean\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/trumantitle.com\/2017\/01\/07\/what-does-ability-to-repay-mean\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/trumantitle.com\/2017\/01\/07\/what-does-ability-to-repay-mean\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/trumantitle.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"What Does Ability To Repay Mean?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/trumantitle.com\/#website\",\"url\":\"https:\/\/trumantitle.com\/\",\"name\":\"Warrensburg, Higginsville, Lexington, MO | Truman Title, Inc.\",\"description\":\"Truman Title, Inc. | Warrensburg, Higginsville, Lexington, MO\",\"publisher\":{\"@id\":\"https:\/\/trumantitle.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/trumantitle.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/trumantitle.com\/#organization\",\"name\":\"Warrensburg, Higginsville, Lexington, MO | Truman Title, Inc.\",\"url\":\"https:\/\/trumantitle.com\/\",\"sameAs\":[],\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/trumantitle.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/trumantitle.com\/wp-content\/uploads\/sites\/52\/2022\/11\/Truman_Title_SC_Logo.jpg\",\"contentUrl\":\"https:\/\/trumantitle.com\/wp-content\/uploads\/sites\/52\/2022\/11\/Truman_Title_SC_Logo.jpg\",\"width\":600,\"height\":400,\"caption\":\"Warrensburg, Higginsville, Lexington, MO | Truman Title, Inc.\"},\"image\":{\"@id\":\"https:\/\/trumantitle.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/trumantitle.com\/#\/schema\/person\/711acd1c6ec028c5eb6aaa77997a095b\",\"name\":\"trumantitle.com\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/trumantitle.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/79474dce370bc7b98389f165fb5e759e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/79474dce370bc7b98389f165fb5e759e?s=96&d=mm&r=g\",\"caption\":\"trumantitle.com\"},\"url\":\"https:\/\/trumantitle.com\/author\/trumantitle-com\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"What Does Ability To Repay Mean? - Warrensburg, Higginsville, Lexington, MO | Truman Title, Inc.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/trumantitle.com\/2017\/01\/07\/what-does-ability-to-repay-mean\/","og_locale":"en_US","og_type":"article","og_title":"What Does Ability To Repay Mean? - Warrensburg, Higginsville, Lexington, MO | Truman Title, Inc.","og_description":"What are the &#8220;Ability to repay&#8221; rules about? In a nutshell, as this video shows, new laws require lenders to make a good-faith assessment&#160;of a borrower&#8217;s capacity to pay back their loan over time. It&#8217;s a longer-term view&#160;that goes beyond immediate income, debt and credit rating. These new Federal laws- supervised by the CFPB -&#160;require&hellip;","og_url":"https:\/\/trumantitle.com\/2017\/01\/07\/what-does-ability-to-repay-mean\/","og_site_name":"Warrensburg, Higginsville, Lexington, MO | Truman Title, Inc.","article_published_time":"2017-01-07T06:09:04+00:00","og_image":[{"width":600,"height":400,"url":"https:\/\/trumantitle.com\/wp-content\/uploads\/sites\/52\/2022\/11\/Truman_Title_SC_Logo.jpg","type":"image\/jpeg"}],"author":"trumantitle.com","twitter_card":"summary_large_image","twitter_misc":{"Written by":"trumantitle.com","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/trumantitle.com\/2017\/01\/07\/what-does-ability-to-repay-mean\/#article","isPartOf":{"@id":"https:\/\/trumantitle.com\/2017\/01\/07\/what-does-ability-to-repay-mean\/"},"author":{"name":"trumantitle.com","@id":"https:\/\/trumantitle.com\/#\/schema\/person\/711acd1c6ec028c5eb6aaa77997a095b"},"headline":"What Does Ability To Repay Mean?","datePublished":"2017-01-07T06:09:04+00:00","dateModified":"2017-01-07T06:09:04+00:00","mainEntityOfPage":{"@id":"https:\/\/trumantitle.com\/2017\/01\/07\/what-does-ability-to-repay-mean\/"},"wordCount":164,"commentCount":0,"publisher":{"@id":"https:\/\/trumantitle.com\/#organization"},"articleSection":["Mortgages:"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/trumantitle.com\/2017\/01\/07\/what-does-ability-to-repay-mean\/","url":"https:\/\/trumantitle.com\/2017\/01\/07\/what-does-ability-to-repay-mean\/","name":"What Does Ability To Repay Mean? - Warrensburg, Higginsville, Lexington, MO | Truman Title, Inc.","isPartOf":{"@id":"https:\/\/trumantitle.com\/#website"},"datePublished":"2017-01-07T06:09:04+00:00","dateModified":"2017-01-07T06:09:04+00:00","breadcrumb":{"@id":"https:\/\/trumantitle.com\/2017\/01\/07\/what-does-ability-to-repay-mean\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/trumantitle.com\/2017\/01\/07\/what-does-ability-to-repay-mean\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/trumantitle.com\/2017\/01\/07\/what-does-ability-to-repay-mean\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/trumantitle.com\/"},{"@type":"ListItem","position":2,"name":"What Does Ability To Repay Mean?"}]},{"@type":"WebSite","@id":"https:\/\/trumantitle.com\/#website","url":"https:\/\/trumantitle.com\/","name":"Warrensburg, Higginsville, Lexington, MO | Truman Title, Inc.","description":"Truman Title, Inc. | Warrensburg, Higginsville, Lexington, MO","publisher":{"@id":"https:\/\/trumantitle.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/trumantitle.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/trumantitle.com\/#organization","name":"Warrensburg, Higginsville, Lexington, MO | Truman Title, Inc.","url":"https:\/\/trumantitle.com\/","sameAs":[],"logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/trumantitle.com\/#\/schema\/logo\/image\/","url":"https:\/\/trumantitle.com\/wp-content\/uploads\/sites\/52\/2022\/11\/Truman_Title_SC_Logo.jpg","contentUrl":"https:\/\/trumantitle.com\/wp-content\/uploads\/sites\/52\/2022\/11\/Truman_Title_SC_Logo.jpg","width":600,"height":400,"caption":"Warrensburg, Higginsville, Lexington, MO | Truman Title, Inc."},"image":{"@id":"https:\/\/trumantitle.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/trumantitle.com\/#\/schema\/person\/711acd1c6ec028c5eb6aaa77997a095b","name":"trumantitle.com","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/trumantitle.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/79474dce370bc7b98389f165fb5e759e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/79474dce370bc7b98389f165fb5e759e?s=96&d=mm&r=g","caption":"trumantitle.com"},"url":"https:\/\/trumantitle.com\/author\/trumantitle-com\/"}]}},"_links":{"self":[{"href":"https:\/\/trumantitle.com\/wp-json\/wp\/v2\/posts\/4198"}],"collection":[{"href":"https:\/\/trumantitle.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/trumantitle.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/trumantitle.com\/wp-json\/wp\/v2\/users\/51"}],"replies":[{"embeddable":true,"href":"https:\/\/trumantitle.com\/wp-json\/wp\/v2\/comments?post=4198"}],"version-history":[{"count":0,"href":"https:\/\/trumantitle.com\/wp-json\/wp\/v2\/posts\/4198\/revisions"}],"wp:attachment":[{"href":"https:\/\/trumantitle.com\/wp-json\/wp\/v2\/media?parent=4198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trumantitle.com\/wp-json\/wp\/v2\/categories?post=4198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trumantitle.com\/wp-json\/wp\/v2\/tags?post=4198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}