Graduated Payment Mortgages

A Graduated Payment Mortgage (GPM) is an option for buyers who expect their income to increase over time. This mortgage features lower initial payments that gradually increase over a set period, typically 5–10 years. The idea is to make homeownership more accessible to individuals in the early stages of their careers or those who anticipate higher future earnings. The structure of the payments allows buyers to afford a home now while preparing for increased financial stability down the road.

While the payments start lower than a traditional mortgage, they will increase incrementally until they level off after a certain period. This type of mortgage offers a long-term solution for those who expect their financial situation to improve and want to manage their early mortgage payments while preparing for the future. It’s an ideal option for buyers who are looking for flexibility in their payment structure.