Finance
A mortgage that provides for increasing payments over a set period of years to accommodate a borrower whose income is expected to rise is called a:
AReverse mortgage
BGraduated payment mortgage (GPM)✓ Correct
CBalloon payment mortgage
DShared appreciation mortgage
Explanation
A graduated payment mortgage (GPM) starts with lower monthly payments that increase at specified intervals. It is designed for borrowers (often first-time buyers) who expect their income to grow over time.
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