graduated payment mortgage

/ˌgrædʒueɪtɪd ˌpeɪmənt 'mɔ:gɪdʒ/ noun
a mortgage where the monthly payments gradually rise over the lifetime of the mortgage.
Abbreviation GPM

Dictionary of banking and finance. 2015.

Look at other dictionaries:

  • graduated payment mortgage — ( GPM) A mortgage in which the monthly payment of principal and interest begins at a low amount and progressively increases to a predetermined higher amount. Thereafter, the amount of the monthly payment remains constant for the remaining life of …   Financial and business terms

  • graduated payment mortgage — graduated payment mortgage, U.S. a mortgage on which monthly payments are low in the early years after purchase of a house, rising gradually thereafter …   Useful english dictionary

  • Graduated Payment Mortgage — A type of fixed rate mortgage in which the payment increases gradually from an initial low base level to a desired, final level. Typically, the payments will grow 7 12% annually from their initial base payment amount until the full payment is… …   Investment dictionary

  • graduated-payment mortgage — ( GPM) A type of stepped payment loan in which the borrower s payments are initially lower than those on a comparable level rate mortgage. The payments gradually increase over a predetermined period (usually 3, 5, or 7 years), and then are fixed… …   Financial and business terms

  • Graduated payment mortgage loan — A graduated payment mortgage loan, often referred to as GPM, is a mortgage with low initial monthly payments which gradually increase over a specified time frame. These plans are mostly geared towards young men and women who cannot afford large… …   Wikipedia

  • Graduated-payment mortgages (GPMs) — A type of stepped payment loan in which the borrower s payments are initially lower than those on a comparable level rate mortgage. The payments are gradually increased over a predetermined period (usually 3,5, or 7 years) and then are fixed at a …   Financial and business terms

  • graduated payment mortgages — (GPM) See mortgage …   Black's law dictionary

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  • mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… …   Black's law dictionary

  • mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… …   Black's law dictionary

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