VA · va-home-loan · Published 2005-05-02 · Effective 2005-05-02 · 70 FR 22596
Document
Document number
05-8714
Federal Register citation
70 FR 22596
CFR reference
38 CFR 36
Type
Rule
Action
Final rule.
Category
va-home-loan
Agency
US Department of Veterans Affairs
Publication date
2005-05-02
Effective date
2005-05-02
Abstract
The Department of Veterans Affairs (VA) is affirming as final an amendment to its loan guaranty regulations implementing section 303 of the Veterans Benefits Act of 2002. The amendment incorporates into the regulations a new authority for hybrid adjustable rate mortgages. This allows VA to guarantee loans with interest rates that remain fixed for a period of not less than the first three years of the loan, after which the rate can be adjusted annually.