A more thorough explanation:

A graduated-payment mortgage is a type of mortgage where the initial payments are lower than the later payments. The payments gradually increase as the borrower's income increases over time. This type of mortgage is designed for borrowers who expect their income to increase in the future.

For example, a borrower may start with a lower monthly payment of $500 for the first few years, and then the payment gradually increases to $800 per month. This allows the borrower to manage their payments in the early years when their income may be lower, and then make larger payments when their income increases.

Another example is a borrower who is a recent college graduate and expects to receive regular salary increases as they gain experience in their field. A graduated-payment mortgage would allow them to make lower payments in the early years of their career and then increase their payments as their income grows.