Glossary term
Mortgage stress test
A mortgage stress test is a qualification comparison that may use a higher qualifying rate than the mortgage contract rate.
Plain meaning
What the stress test means
The stress test is used to test whether a borrower could qualify under a higher rate assumption. It is not the same as the payment actually charged under the mortgage contract.
Calculator context
How OpenBook uses it
Mortgage qualifier calculators can compare entered income, debts, housing costs, and mortgage assumptions against selected GDS and TDS limits using a qualifying-rate rule. Lenders may apply additional rules, exceptions, or documentation requirements.