A ____ mortgage allows borrowers to initially make small payments on the mortgage, which are then increased on a graduated basis over the first five to ten years; payments then level off fromthere on.

Question

Quizplus · Accepted Answer

A graduated-payment mortgage allows borrowers to start with small payments that increase over time and level off after a certain period. This type of mortgage is designed for borrowers who expect their income to increase over time, allowing them to handle larger payments in the future. The other options listed (balloon-payment, shared-appreciation, growing-equity) do not match the description given.

A ____ Mortgage Allows Borrowers to Initially Make Small Payments