Graduated payments result in the borrower paying:
A)More at the beginning of the mortgage
B)Less at the beginning of the mortgage
C)Less at the end of the mortgage
D)The mortgage at 1/2 the standard rate
E)None of these

Question

Quizplus · Accepted Answer

Graduated payments are structured so that the borrower pays less at the beginning of the mortgage term, with payments increasing over time. This is designed to match borrowers' expected income growth.

Graduated Payments Result in the Borrower Paying