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TeachMeFinance.com - explain graduated-payment mortgage graduated-payment mortgage -- a mortgage loan which provides for initial lower monthly payments, with payment amounts increasing gradually over a period, usually up to 10 years, under the assumption that the borrower's income will also rise during the period. Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.