Housing counselors say they are increasingly concerned about the toll rising property taxes are taking on consumers' ability to get mortgage financing and borrowers' ability to make payments.

As it is, many loan applicants are having difficulty meeting the 43% debt-to-income limit in the Consumer Financial Protection Bureau's definition of a qualified mortgage. Higher property taxes only make it tougher. And while historical property taxes are factored into underwriting and loan terms, tax hikes that can increase the size of a monthly payment are an unknown that tends to creep up on borrowers.

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