graduated payments mortgage (GPM) |
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Definition
Loan arrangement in which (1) installment payments start at a relatively small amount, (2) gradually increase at a pre-arranged rate, and then (3) level off after reaching a certain amount. GPM facility is usually extended to young people starting on a career that promises higher income in the near future. Also called graduated payment loan.
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graduated payments mortgage (GPM) is in the Banking, Commerce & Finance and Real Estate & Buildings subjects.
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