- graduated payment mortgages
- (GPM)See mortgage
Black's law dictionary. HENRY CAMPBELL BLACK, M. A.. 1990.
graduated payment mortgages
Look at other dictionaries:
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
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
GPM — 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 … Financial and business terms
Negative Amortization — An increase in the principal balance of a loan caused by making payments that fail to cover the interest due. The remaining amount of interest owed is added to the loan s principal, which ultimately causes the borrower to owe more money. For… … Investment dictionary
Federal Housing Administration — The Federal Housing Administration (FHA) is a United States government agency created as part of the National Housing Act of 1934. The goals of this organization are: to improve housing standards and conditions; to provide an adequate home… … Wikipedia
Graduation Period — The period of time on a graduated payment mortgage during which the monthly payment rises by a certain percentage at set intervals, usually annually. The interest rate at which monthly payments are set to increase by is fixed over the entire… … Investment dictionary
Deferred Interest — The amount of interest that is added to the principal balance of a loan when the contractual terms of that loan allow for a scheduled payment to be made that is less than the interest due. When a loan s principal balance increases because of… … Investment dictionary
Graduation Rate — The percentage increase in the monthly payment on a graduated payment mortgage. The increase occurs at set intervals, usually annually. The interest rate on a graduated payment mortgage is fixed for the life of the loan. The initial monthly… … Investment dictionary
alternative mortgage instruments — Variations of mortgage instruments such as adjustable rate mortgages and variable rate mortgages, graduated payment mortgages, reverse annuity mortgages, and several seldom used variations. Bloomberg Financial Dictionary … Financial and business terms
