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- Graduated-payment mortgage (GPM)
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Graduated-payment mortgage (GPM)
A mortgage that requires a borrower to make larger monthly payments over the term of the loan. The payment is unusually low for the first few years but gradually rises until year three or five, then remains fixed.
Related Terms
Payment cap
Balloon payment
Impounds
Mortgage broker
Notice of default
Late payment
Cap
Escrow payment
Interest rate caps
Balloon loan
Escrow analysis
Additional principal payment
Standard payment calculation
Escrow account
Low-down-payment loan
Private mortgage insurance (PMI)
Mortgage acceleration clause
Negative amortization
Interest-only loan
Alternative mortgage
Rehabilitation mortgage
Purchase-money mortgage
Fully amortized adjustable-rate mortgage
Biweekly mortgage
Blanket mortgage
First mortgage
Buy-down mortgage
Convertible adjustable-rate mortgage
Growing-equity mortgage
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