The Real Estate Encyclopedia
Graduated Payment Mortgage
Category - Real Estate Glossary - Real Estate Terminology
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
 
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Real Estate Glossary - Real Estate Terminology
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