A loan repayment option with payments set at a percentage of your income and reviewed annually. To qualify, you must provide your lender with income documentation including tax returns each year.
A loan repayment plan designed so that loan payments increase with the borrower’s income.
Loan repayment plan under which the borrower's monthly payment amount adjusts annually, based solely on the borrower's expected total gross monthly income.
Method of repayment in which the amount of monthly payments are based on the borrower's income. Payments must cover at least the interest, which accrues between payments. Back to glossary main page
A repayment schedule that annually adjusts the borrower's monthly payment based on the borrower's income.
Loan repayment that is based on the borrower's income. Payments increase as income rises.