Ill. Admin. Code tit. 38 § 1050.1180
A lender shall not make a high risk home loan if the lender does not believe, at the time the loan is consummated, that the borrower or borrowers will be able to make the scheduled payments to repay the obligation based upon a consideration of their current and expected income, current obligations, employment status and other financial resources (other than the borrower's equity in the dwelling that secures repayment of the loan). A borrower shall be presumed to be able to repay the loan if, at the time the loan is consummated, or at the time of the first rate adjustment in the case of a lower introductory interest rate, the borrower's scheduled monthly payments on the loan (including principal, interest, taxes, insurance and assessments), combined with the scheduled payments for all other disclosed debts, do not exceed 50% of the borrower's monthly gross income.
Ill. Admin. Code tit. 38, § 1050.1180
Amended at 29 Ill. Reg. 14808, effective September 26, 2005