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GEM (growing equity mortgage) |
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GEM (growing equity mortgage)Mortgage in which annual increases in monthly payments are used to reduce outstanding principal and to shorten the term of the loan.GEM (growing equity mortgage) Similar MatchesStepped fixed rate mortgageStepped fixed rate mortgageWhere the interest is, for example, fixed at one level for one year and then a slightly higher level for two further years. This is not as common as finding stepped discounted mortgages. Tracker mortgagesTracker mortgagesThey are usually linked to the Bank of England base rate, in that you pay a set margin above the current base rate level. Unlike many of the other types of rate, most tracker rates will not revert to the SVR at any point during the life of the loan. They will continue to track the base rate until you have either paid off your mortgage or switch provider or product. You can also get tracker mortgages that have discounts and stepped discounts built into them. Capped rate mortgageCapped rate mortgageA mortgage which guarantees the interest rate charged will not rise above a certain level. But it may fall in line with variable rates. Mortgage BondsMortgage BondsBonds issued by corporations, which offer first mortgages on real property of the corporation as security for the payment of the bonds. Blanket mortgageBlanket mortgageA mortgage that covers more than one property owned by the same borrower. Further SuggestionsSecondary mortgage marketreverse mortgage Mortgage application fee Deferred interest mortgage graduated payment mortgage Mortgage cash surplus Government National Mortgage Association (Ginnie Mae) Wraparound mortgage Mortgagee Mortgage application Self certification mortgage Chattel mortgage Adjustable rate mortgage (ARM) Mortgage duration Fixed term reverse mortgage Wraparound mortgage Lehman Brothers Adjustable Rate Mortgage Index Stepped discount mortgage mortgage Mortgage Banker Foreign currency mortgage Wrap Around Mortgage Graduated Payment Mortgage Delinquent mortgage First mortgage |
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