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Adjustable-rate mortgage loans (ARMs) in Grand Prairie, TX have variable interest rates that can be adjusted on occasion. Generally, ARM rates will change about once a year once the initial period (where the rate remains fixed) passes.
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FHA loans provide an excellent opportunity to buy a home in Grand Praire, TX. The FHA (Federal Housing Administration) was created to give the average American a chance at owning their own home. FHA loans provide home financing to many that might not otherwise qualify for a conventional mortgage.