A fixed-rate, fixed-schedule loan. It starts with lower payments than a level payment loan; payments rise annually, with the entire increase being used to reduce the outstanding balance. The increase [..]

A graduated payment mortgage has payments that are lower in the early years but increase on a scheduled basis until they reach a level of amortization.

Mortgage loan for which the initial payments are low but increase over the life of the loan.

Definition Home mortgage loan in which the repayment begins with a relatively small amount, begins to rise slowly and, after some years, levels off to a fixed amount. It is designed for the young prof [..]

A mortgage with initial low payments (with potential negative amortization) that increase regularly for several years and then level off.

A mortgage on which the payment rises by a constant percent for a specified number of periods, after which it levels out over the remaining term and amortizes fully. For example, the payment might [..]

A fixed-interest loan with lower payments in the early years than the later years. The amount of the payment gradually increases over a period of time and then levels off at a payment sufficient to pay off the loan over the remaining amortization period.

 The Graduated Payment Mortgage (GP-MOP) is an alternative loan product under the Mortgage Origination Program (MOP) that results in an initial lower interest rate (Borrower Rate) than the most recently published MOP rate (Standard Rate). The initial Borrower Rate is stated as a percentage below the Standard Rate, subject to a 3% minimum rate. The [..]

A fixed-rate, fixed-schedule loan. It starts with lower payments than a level payment loan; payments rise annually, with the entire increase being used to reduce the outstanding balance. The increase in payments may enable the borrower to pay off a 30-year loan in 15 to 20 years, or less.

A type of flexible-payment mortgage where the payments increase for a specified period of time and then level off. This type of mortgage has negative amortization built into it.

A mortgage where the payments start low and rise up over time. The negative amortization is added to the balance of the loan. A buydown mortgage is somewhat similar to a Graduated Payment Mortgage, ex [..]

A fixed-rate mortgage where borrowers start with a low monthly payment that rises 7.5 percent each year for the first five years of the loan before leveling off. GPMs are aimed at borrowers who antici [..]

A fixed rate loan with monthly payments that start low, increasing by a fixed amount for a specific number of years. After that period, the payments typically remain constant for the duration of the loan.

A loan in which monthly payments are relatively small in the beginning years and gradually increase in dollar amount over the life of the mortgage.

Type of flexible-payment mortgage where the payments increase for a specified period of time and then level off. This type of mortgage has negative amortization built into it.