How it works
A graduated payment mortgage begins with lower scheduled payments that increase over a defined period. The structure is designed around a rising payment schedule rather than one level payment from the start.
Who it may suit
Borrowers evaluating a planned increase in payments and who understand the risks of a lower starting payment.
Potential benefits
Lower early payments can provide initial budget flexibility. The scheduled increases are set out in the loan terms.
What you’ll typically need
Lenders assess your ability to handle the increasing payments. Availability, graduation schedules and qualification requirements vary.
All programs are subject to lender availability, credit, income, property and eligibility requirements. Information is educational and is not a commitment to lend.
Quick Quote
Tell us about your home and your goals. A Legacy loan officer will help you explore your options.
This is a request for a conversation, not a rate quote, loan application or commitment to lend.
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