Section 245 Graduated Payment Mortgage Program

To facilitate early home ownership for households that expect their incomes to rise.

Program allows homeowners to make smaller monthly payments initially and to increase their size gradually over time.

Agency - Department of Housing and Urban Development

The Department of Housing and Urban Development's mission is to increase homeownership, support community development and increase access to affordable housing free from discrimination. HUD fulfills this mission through high ethical standards, management and accountability, and by forming partnerships with community organizations.

Office -