Potential QRM Requirements Could Price Out Median-Income Households

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A typical median-income family would need to save about $3,000 annually for 14 years to accumulate the cash needed to buy a median-priced home with a 20% down payment, assuming closing costs are 5% of the home's price, the group wrote. The same family would have to save for nine years to buy a similarly priced house at a 10% down payment.