"Graduated payment mortgage loan"

Ind. Code § 28-15-11-5
in effect
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Sec. 5. As used in this chapter, "graduated payment mortgage loan" or "GPM loan" means a mortgage loan under which: (1) the scheduled repayments begin at a level lower than that of a comparable standard mortgage loan and rise to a point determined by the loan documents; and (2) the period of the rise, the rate of increase, and the interest rate are fixed in the loan documents. As added by P.L.193-1997, SEC.2.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/28Fetched: 10/17/2026

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