Question

A mortgage with low initial payments that increase over time without ever leveling off is a graduated payment mortgage. growing-equity mortgage. second mortgage. shared-appreciation mortgage. equity line of credit

Answer 1

growing-equity mortgage

Step-by-step explanation:

When a person obtains a growing equity mortgage, they have to pay a higher monthly payment every month. These increases must be included in the mortgage contract and they are beneficial if the borrower's income is expected to increase in the future. The interest rate remains the same, it doesn't change.