graduated payments mortgage (GPM)
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.
Mentioned in these definitions
Popular 'Banking, Commerce & Finance' Terms
graduated payments mortgage (GPM) in the news
Loading...
This content can be found on the following page:
http://www.businessdictionary.com/definition/graduated-payments-mortgage-GPM.html
