Home Loans 101: What is "Graduated Payment?" - Washington First Mortgage Loan Corporation
Home Loans 101: What is "Graduated Payment?"
What is a "graduated payment" in a mortgage?
A graduated-payment mortgage is a fixed-rate mortgage wherein payments increase gradually from an initially low base level to a higher level. Typically, these payments grow 7% to 12% yearly until full payment is reached.
* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.