Which of the following are useful for home buyers who expect their income to rise in the future?

Question

Quizplus · Accepted Answer

GPMs (Graduated Payment Mortgages) and GEMs (Growing Equity Mortgages) are both designed to accommodate borrowers who expect their income to increase over time. GPMs start with lower initial payments that increase over time, while GEMs have payments that increase according to a predetermined schedule, allowing the borrower to pay off the mortgage faster as their income grows. RAMs (Reverse Annuity Mortgages) are more suited for older homeowners who want to convert equity into cash and do not fit the scenario of expecting future income growth.

Which of the Following Are Useful for Home Buyers Who