For example, interest-only loans are a popular type of mortgage that are not covered by the QM rule. Many lenders will still originate these loans because there is a demand for such a product. These will probably be the most common loan type under the non-QM umbrella, with high-net-worth borrowers the likely target.
Alimony income. For purposes of making an IRA contribution, taxable alimony income counts as qualifying income. This is a special rule that permits you to build retirement savings in an IRA even if you rely on alimony income for your support. The rule applies only to taxable alimony income, though.
Your Roth IRA withdrawals may be taxable if: 1  Youâve not met the five-year rule yet for opening the Roth and you are under age 59 Â½: You will pay income taxes and a 10% penalty tax on earnings that are withdrawn (the 10% penalty may be waived if you meet one of the eight exceptions to the early withdrawal penalty tax).