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