A Staged Payment Mortgage (GPM) is a type of fixed-rate mortgage with an amortization schedule that has lower payments early on that then increase over time.
Gross debt service ratio (GDS), total debt service ratio and borrower’s credit rating are key components analyzed in the mortgage loan underwriting process.
A growth equity mortgage (GEM) is a type of fixed-rate mortgage where additional principal payments are pre-planned and increase over time, often by 5% per year.