Afhm - Study guides, Class notes & Summaries

HUD Housing Counselor Exam Question and answers 2023 verified to pass Adjustable Rate Mortgage (ARM) - correct answer Adjustable rate mortgages have an initial rate that applies for a defined period of time (typically from one month to 10 years), then adjusts at pre-determined intervals for the life of the loan. Interest rates can increase or decrease when adjusted. Adjusted Gross Income - correct answer Gross income minus adjustments, or reductions, that one is eligible for, such as...