Which factor is NOT considered in determining the eligibility for a qualified mortgage?

In determining the eligibility for a qualified mortgage, several factors are taken into account to ensure that the borrower can afford the loan and is a lower risk for lenders. Key considerations include the debt-to-income ratio, which assesses the proportion of a borrower’s monthly income that goes towards paying debts; the credit score, which reflects the borrower’s creditworthiness; and employment history, which provides insight into the borrower's stability and ability to repay the loan.

However, the loan amount itself is not a determining factor for eligibility under the qualified mortgage guidelines. While the amount of the loan may play a role in other aspects of the lending decision, qualified mortgages focus on the borrower's ability to repay rather than simply the total amount they wish to borrow. Thus, while a borrower may seek a large loan or a small one, it is their financial profile, including their ability to manage the debt relative to their income, that ultimately informs the decision for a qualified mortgage.