Definitions for "Graduated payment mortgage"
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
MP] A mortgage on which the payment rises by a constant percent for a specified number of periods, after which it becomes fully-amortizing.
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 the loan. The interest rate is fixed for the entire period.
Grandfathered Activities
Grantee Grantor
Grantor Retained Income Trust Grantor trust