Enter Zip, City, or County... i.e. orange,NY or 90019
Search Method:    regular time edocs

Resources > Glossary > Graduated Payment Mortgage

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

0-9  A  B  C  D  E  F  [G]  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z  
Common Terms 1   Common Terms 2

Graduated Payment Mortgage

Function: noun

A Graduated Payment Mortgage is a mortgage where payments start low and rise over time. The negative amortization is added to the balance of the loan. A buydown mortgage is somewhat similar to a Graduated Payment Mortgage, except for the fact that a Buydown Mortgage doesn't involve negative amortization. A Graduated Payment Mortgage is different from an Adjustable Rate Mortgage because the payment amounts in a Graduated Payment Mortgage are predetermined and fixed, while an Adjustable Rate Mortgage's payments could fluctuate with interest rates which are not predictable or predetermined.

Thesaurus / Related Terms
Adjustable Rate Mortgage
Buydown Mortgage
Assumable Mortgage
Balloon Mortgage
Biweekly Payment Mortgage
First Mortgage