Where can a consumer obtain information about adjustable rate mortgages (ARMs)?

The Federal Reserve Board has published ''The Consumer Handbook on Adjustable Rate Mortgages (ARMs)'' that is available in both English and Spanish to help consumers understand the features of an adjustable rate mortgage. This handbook identifies the basic features of ARM loans: adjustment periods, interest rate caps, indexes, margins, points, payment caps, negative amortization, prepayments; provides a glossary of key terms and a checklist to compare various loan features among lenders. You can view and print a copy of this handbook from the Consumer Financial Protection Bureau's website at:


All policy information contained in this knowledge base article is based upon the referenced HUD policy document. Any lending or insuring decisions should adhere to the specific information contained in that underlying policy document.

Topic Number: KA-02799