Which of the following is NOT one of the four key features of a Qualified Mortgage?

The assertion that low interest rates is not one of the four key features of a Qualified Mortgage is accurate. The guidelines for Qualified Mortgages focus on ensuring consumer protection and responsible lending practices rather than specific interest rate levels. The main attributes that define a Qualified Mortgage include:

• No negative amortization: This ensures that the loan balance does not increase over time, which is a fundamental protection for borrowers.

• Limit on points and fees: This restricts the costs that can be charged to borrowers, making loans more affordable and preventing predatory lending practices.

• Maximum term of 30 years: This ensures that loans are structured in a way that they are more manageable for borrowers, minimizing the risk of long-term financial burden.

These features work together to promote borrower safety and to ensure that lenders are cautious in their lending practices. The presence of low interest rates is not a defining characteristic of a Qualified Mortgage and can vary significantly based on market conditions and individual lender practices.