38 U.S.C. § 3707 — Adjustable rate mortgages

correspond to a specified national interest rate index approved by the Secretary, information on which is readily accessible to mortgagors from generally available published sources;

be made by adjusting the monthly payment on an annual basis;

be limited, with respect to any single annual interest rate adjustment, to a maximum increase or decrease of 1 percentage point; and

be limited, over the term of the mortgage, to a maximum increase of 5 percentage points above the initial contract interest rate.

the status of the interest rate index referred to in subsection (b)(1) and available at the time an underwriting decision is made, regardless of the actual initial rate offered by the lender;

the maximum and likely amounts of increases in mortgage payments that the loans would require;

the underwriting standards applicable to adjustable rate mortgages insured under title II of the National Housing Act; and

such other factors as the Secretary finds appropriate.