Bush Initiative to Provide Homeownership for 40,000 - 2004-03-11
The Department of Housing and Urban Development published in the Federal Register a final rule that will improve homebuying opportunities by boosting its offerings of adjustable-rate mortgage (ARM) products on FHA-insured mortgages.
Potential homebuyers will be able to choose mortgages with periods of three, five, seven or ten years, depending on their needs, during which time the interest rate would be fixed.
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