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.
The goal of the GPM is to allow homeowners to start with lower monthly mortgage payments to help certain people qualify for their loans.
The total cost over the life of a GPM loan is generally higher than a standard mortgage, and homeowners who could afford earlier payments may run into financial trouble as monthly bills rise over time.