Graduation period

Graduation period,

Definition of Graduation period:

  1. The time frame on a graduated payment mortgage when the payment will rise by a specified percentage at set periods of time. This time period is typically annually. Usually a graduated payment mortgage is a fixed rate mortgage versus an adjustable rate mortgage. Therefore, the borrower will know in advance what their new payments and current payoff amount will be.

Meaning of Graduation period & Graduation period Definition