FHA Mortgage Insurance

What is an Interest-Only Fixed-Rate Loan?

What is an Interest-Only Fixed-Rate Loan?

An interest-only fixed-rate loan is one in which a borrower pays only interest at a fixed rate and nothing towards the principal of their mortgage loan.

What is the U.S. Department of Housing and Urban Development (HUD)?

What is the U.S. Department of Housing and Urban Development (HUD)?

The U.S. Department of Housing and Urban Development, otherwise known as HUD, is a federal government agency that develops, oversees, and executes housing policies, especially regarding affordable and sustainable housing.

Who is Classified as Frail Elderly?

Who is Classified as Frail Elderly?

If someone is classified as frail elderly, they are an older adult who cannot perform at least three daily living activities such as bathing, eating, dressing, grooming, or home management activities.