(a) Payment options. A mortgage shall initially provide for the tenure payment option (Sec. 206.19(a)), the term payment option (Sec. 206.19(b)), or the line of credit payment option (Sec. 206.19(c)), or a combination as provided in Sec. 206.25(d), subject to later change in accordance with Sec. 206.26.
(b) Interest rate. A mortgage shall provide for either fixed or adjustable interest rates in accordance with Sec. 206.21.
(c) Shared appreciation. A mortgage may provide for shared appreciation in accordance with Sec. 206.23. [54 FR 24833, June 9, 1989, as amended at 61 FR 36266, July 9, 1996]