Why are graduated payment mortgages efficient?
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abbey
Apprentice
Joined: 28 Feb 2006
Posts: 4
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 Posted: 09/06/08 - 07:01 Post subject: |
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| Hello, I am thinking about applying for a mortgage. I have no idea that choosing the right mortgage would be so difficult. It is hard to find which one suits me the best possible way. So I could really use your help. Why are graduated payment mortgages efficient? Thank you all for making a comment. |
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ransom
Apprentice
Joined: 02 Apr 2004
Posts: 15
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| Posted: 09/21/08 - 03:53 Post subject: |
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| I think that the main characteristic of graduated payment is that this mortgage begins with lower payment. But, as time goes pay the amount of money for the payments increases. However the problem with this type of mortgage is that you will need to pay higher interest rate. I hope this was helpful. |
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pen
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Joined: 14 Jun 2004
Posts: 7
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| Posted: 10/06/08 - 00:46 Post subject: |
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| Graduated payment mortgage are efficient because of its lower payment. So at the beginning you will be able to pay less. Of course after some time the payment that you will have to make will get higher. What is best about this mortgage is that many people can qualify for it because of it lower interest base. |
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