The Graduated Payment Mortgage, or GPM, is an alternative to the conventional ARM. It is considered to be between the ARM and a fixed rate mortgage, meaning that the GPM is fixed and adjustable at the same time. For the length of the year the rate stays the same, but the next year may be a different rate depending on the market. Most GPMs come in fifteen and thirty year mortgage loans at a rate of .5 to .75 percent higher than a standard fixed rate. A GPM prolongs a typical loan and increases as much as fifty percent by the time the final payment is paid.

More Maryland Mortgage Specialists.com Interest Rates Information:

• Annual percentage rate (APR)
  
• Adjustable rate mortgages (ARM)
  
• Interest rate buydowns
  
• Graduated payment mortgage (GPM)
  
• Fixed rate mortgage
  

Maryland Mortgage Specialists.com - Home Information

Getting a loan is a very simple process with us. Whether you are refinancing or purchasing a new home all you need to do initially is send us two years of w2’s, one month of paystubs, and a copy of your homeowner’s insurance policy. We can then approve you for a loan. It is truly that simple. The mortgage broker will be impressed and have proven to him your ability and desire to pay the loan. For any further questions on what to send when you make contact with a loan officer, contact Maryland Mortgage Specialists.com.

Maryland Mortgage Specialists.com Featured Cities Real Estate Information

• Baltimore
• Bethesda
• Columbia
• Frederick
• Annapolis
• Silver Spring
  
• Bel Air
  
• Ocean City
  
• La Plata
  
• Cumberland