Payment Mortgage
Government Backed Graduated Mortgage Payments
Called the Section 245 Graduated Payment Mortgage Program and referred to as Program #14.159 in the Catalog of Federal Domestic Assistance, this program helps early home ownership for households that expect their incomes to rise. The program allows homeowners to make smaller monthly payments initially and to increase their size gradually over time. Contact your local office of the U.S. Department of Housing and Urban Development. Look on the left-hand side of the page to search for your local field office.