245 loan

245 loan

An FHA-insured loan program also called the graduated payment mortgage. It allows home purchasers to begin with low monthly mortgage payments and then steadily increase them over the next 5 to 10 years,when they will remain constant.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
The third-party due diligence focused on performing comparisons and re-computations of loan characteristics for a randomly selected sample of 245 loans in the statistical pool.
- Optima Bank extended 245 loans for 55.257 million som.
Asia: 245 loans, valued at $1,817 million to 27 countries.