Graduated Payment Mortgage Origination Program
(This option is not currently offered.)
The GP-MOP loan features an initial interest rate that is a specified percentage lower than the Standard MOP loan rate in effect at the time of loan commitment. This percentage changes each year so that the difference between the Borrower Rate and the Standard Rate gradually decreases until the rate equals the Standard Rate. In no case can the Borrower Rate be less than 3.0%. For additional information, please refer to the Graduated Payment Mortgage page.