Product Details:
Description:
This booklet, published by the federal bank, thrift, and credit union regulatory agencies, is an informational resource that can help consumers make more informed choices when considering nontraditional mortgage loans.
This information can help consumers, whether buying a house or refinancing a mortgage, decide if an interest-only mortgage (an I-O mortgage) or an adjustable- rate mortgage (ARM) with the option to make a minimum payment (a payment-option ARM) is right for them. The booklet features a glossary of lending terms, a mortgage shopping worksheet, and a list of additional information sources.
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