These are not necessarily complete definitions, but there is only one possible answer for each term Term Answer Description Fixed-rate mortgage A. This type of mortgage typically requires a down payment of 20% of the value of the mortgaged property This mortgage allows a borrower to convert from an Interest-only mortgage . adjustable-rate loan to a fixed-rate loan during a prespecified time period VA loan guarantee C. This mortgage allows the borrower to pay only the accrued interest on the loan for a specified period of time; after this date, all payments require the payment of both interest and principal This adjustable rate mortgage allows for only one rate change: Biweekly mortgage D. a lower rate remains constant for the first five to seven years of the loan's term and then increases to a higher constant rate that continues throughout the remaining life of the loan. Two-step ARM . This mortgage is characterized by a constant interest rate and constant monthly payments over the life of the loan. Adjustable-rate The payments on this mortgage are equal to one-half of a F. mortgage regular monthly payment and are paid every two weeks rather than once a month an interest rate and monthly This mortgage is characterized by Convertible ARM G. payments that can be adjusted over the life of the loan based on movements in market interest rates Graduated-payment . This mortgage allows borrowers to make smaller-but gradually and constantly increasing-payments for the first three to five ARM years. At the end of this period, the payments then stabilize at the higher level and are repaid over the remaining life of the loan. FHA mortgage I This loan guarantee is offered by a department of the federal insurance government to lenders who make qualified loans to eligible veterans of the U.S. Armed Forces and their surviving spouses. Conventional mortgage J. This loan program, offered through a department of the federal government, provides mortgage insurance to lenders offering mortgage loans with loan-to-value ratios greater than 80% These are not necessarily complete definitions, but there is only one possible answer for each term Term Answer Description Fixed-rate mortgage A. This type of mortgage typically requires a down payment of 20% of the value of the mortgaged property This mortgage allows a borrower to convert from an Interest-only mortgage . adjustable-rate loan to a fixed-rate loan during a prespecified time period VA loan guarantee C. This mortgage allows the borrower to pay only the accrued interest on the loan for a specified period of time; after this date, all payments require the payment of both interest and principal This adjustable rate mortgage allows for only one rate change: Biweekly mortgage D. a lower rate remains constant for the first five to seven years of the loan's term and then increases to a higher constant rate that continues throughout the remaining life of the loan. Two-step ARM . This mortgage is characterized by a constant interest rate and constant monthly payments over the life of the loan. Adjustable-rate The payments on this mortgage are equal to one-half of a F. mortgage regular monthly payment and are paid every two weeks rather than once a month an interest rate and monthly This mortgage is characterized by Convertible ARM G. payments that can be adjusted over the life of the loan based on movements in market interest rates Graduated-payment . This mortgage allows borrowers to make smaller-but gradually and constantly increasing-payments for the first three to five ARM years. At the end of this period, the payments then stabilize at the higher level and are repaid over the remaining life of the loan. FHA mortgage I This loan guarantee is offered by a department of the federal insurance government to lenders who make qualified loans to eligible veterans of the U.S. Armed Forces and their surviving spouses. Conventional mortgage J. This loan program, offered through a department of the federal government, provides mortgage insurance to lenders offering mortgage loans with loan-to-value ratios greater than 80%