Contrary to some concerns, prospective home buyers who truly can afford to make a purchase are not likely to encounter barriers to financing as a result of the new qualified mortgage (QM) standard. The Consumer Financial Protection Bureau rules compel lenders to amortize loans for no more than 30 years, cap fees and points at 3 percent of the loan value, and ensure that borrowers are able to pay back the credit, among other requirements. Because lenders have already heavily tightened underwriting, experts say the QM standard will not affect most loan applicants. According to the Mortgage Bankers Association's Mortgage Credit Availability index, it is much more difficult to line up home financing today than it was in 2007, before the housing crisis. The would-be borrowers who do get turned away in the future more than likely will be those who live in high-cost housing markets or states where the housing rebound is moving the slowest as well as young people who seek adjustable-rate mortgages on the promise of higher incomes as they build their careers. Non-QM loans will still be available, although more difficult to obtain. However, some reason, if a borrower fails to qualify on bank and government-backed loans, they probably are not financially prepared for homeownership yet, anyway.