Finance
A NH buyer's ability to obtain a 'stated income' loan (where income is not verified by documentation) is:
ACommon in the current NH mortgage market
BLargely restricted after the 2010 Dodd-Frank Act's qualified mortgage (QM) rules requiring documented income✓ Correct
CAvailable to all self-employed buyers
DOnly restricted for FHA loans
Explanation
The Dodd-Frank Act's ability-to-repay (ATR) rule requires lenders to verify income for qualified mortgages. True stated income loans (where income is not verified) are largely unavailable for QM loans, though some non-QM lenders offer bank statement programs.
Related New Hampshire Finance Questions
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