Adjustable Rate Mortgages
Active
- Assistance listing
- 14.175
- Agency
-
Assistant Secretary for Housing Federal Housing Commissioner
Department of Housing and Urban Development
- Grant awards
- Not on record
Program facts
- Also known as
- Home Mortgage Insurance- Adjustable Rate Mortgages
- Treasury account
-
- 86-4587-0-3-371
- More information
Program details come from SAM.gov Assistance Listings. Updated .
About this program
The Department of Housing and Urban Development, through the Federal Housing Commissioner, provides mortgage insurance for adjustable rate mortgages under CFDA 14.175, with insurance protecting lenders and enabling homebuyers and refinancing borrowers to access mortgages with initial fixed-rate periods of 1, 3, 5, 7, or 10 years before rates adjust. All legal residents intending to occupy the property as their principal residence are eligible to apply; mortgage terms may extend to 30 years. Lenders approved by HUD originate and service loans under this program, maintaining records in accordance with prudent lending practices and HUD regulations. The program does not report an assigned federal dollar value in the standard appropriations structure.
The source material does not provide grant award portfolio data, recent award examples, recent grant opportunity postings, or award cadence history that would indicate current activity level or application timeline. Without a portfolio block or recent-awards listing, funding concentration among HUD sub-offices, typical award magnitudes, or open application deadlines cannot be determined from this source. Lenders who decline applicants are required to state reasons, and applicants may reapply with the existing lender or apply to another HUD-approved lending institution.
This program operates as a mortgage insurance mechanism rather than a traditional grant portfolio, functioning to reduce lender risk on adjustable rate mortgages meeting program criteria. Eligibility and program mechanics are standardized by HUD regulation; the business development question for most organizations will be whether mortgage origination or servicing under HUD insurance products aligns with institutional strategy, not whether a competitive grant opportunity is currently open. Organizations engaged in mortgage lending should consult HUD's direct lending resources and approved lender lists to determine current participation pathways and any recent updates to underwriting or insurance requirements.
Objective and description
- Objective
To provide mortgage insurance for an adjustable rate mortgage which may offer a lower interest rate initially that a fixed rate mortgage, and which remains constant for an initial period of 1, 3, 5, 7 or 10 years. The interest rate may then change a
- Description
Provides insurance to financial institutions that helps people purchase a home or refinance an existing mortgage.
Eligibility
- Applicant eligibility
All legal residents intending to occupy the property as their principal residence are eligible to apply.
- Beneficiary eligibility
Individuals/families.
- Uses of assistance
HUD insures lenders against loss on mortgage loans. These loans may be used to finance the purchase of proposed, under construction, or existing one- to four-family housing as well as to refinance indebtedness on existing housing. The maximum insurable mortgage loan for an occupant mortgagor is the same as prescribed for Section 203(b) - program 14.117.
- Length and time phasing of assistance
The mortgage term may extend for 30 years.
How to apply
- Award procedure
See Application Procedure.
- Time to approval or disapproval
Varies.
- Appeals
The lender will state the reasons for refusing an application. The applicant may reapply with the existing lender or may apply to another HUD approved lending institution.
Quick answers
What is Assistance Listing 14.175?
Assistance Listing 14.175 is Adjustable Rate Mortgages, a federal grant program run by Assistant Secretary for Housing Federal Housing Commissioner (Department of Housing and Urban Development).
What is the CFDA number for Adjustable Rate Mortgages?
Its CFDA number is 14.175: Assistance Listing numbers were called CFDA numbers before 2018.
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