Self-employed individuals and small-business owners may not meet the requirements of new mortgage rules that went into effect Friday and could face hurdles obtaining new home loans.

As banks and mortgage lenders parse the requirements of the Consumer Financial Protection Bureau's ultra-safe "qualified mortgage" rule, they are finding that self-employed borrowers typically fall outside the definition of QM. The self-employed and sole proprietors of small businesses, from plumbers to interior decorators to caterers, may have the hardest time proving their income from bonuses or commissions, and may have high debt-to-income ratios because they typically list the lowest possible income on their tax returns.

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