Foreword<br > Whether one is making a first home purchase<br >or buying a fifth one， there are more choices today than ever<br >before. There are new choices of homes. Beyond a new traditional<br >detached single family home， home buyers might consider a<br >condominium， a townhouse， renovating an older urban home to<br >its previous splendor， building a dome， a log home， or a<br >"futuristic" structure complete with energy efficient and<br >computerized systems.<br > There are also many choices of financing for the home. The<br >fixed-rate mortgage is no longer the only type of mortgage a<br >lender will offer to finance a purchase. New types of mortgages<br >are available today giving a variety of interest rates， maturities<br >and other terms which may fit an individual s financial pattern<br >even better than a 30 year fixed-rate mortgage.<br > The growth in choices is the direct result of dramatic changes<br >in the mortgage finance industry. With the passage of the Garn-<br >St Germain Depository Institutions Act of 1982， financial insti-<br >tutions gained the means of diversifying their financial services<br >and strengthening their organizations to withstand the effects<br >of high interest rates. Many restrictions on mortgage lending<br >were lifted by the legislation.<br > At the same time， many investors became interested in buying<br >mortgages from institutions which originate loans to home<br >buyers. Their interest spans the full range of mortgage instru-<br >ments from ;t0 year fixed-rate loans to the newer adjustable-rate<br >