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 Matches

Buy down mortgage

Buy down mortgage

A home loan in which the lender receives a premium as an inducement to reduce the interest rate during the early years of the mortgage.


Pension mortgage

Pension mortgage

A type of interest-only mortgage where your mortgage payments are combined with payments into your personal pension fund. This is designed to mature on your retirement, so the mortgage loan term must end between the ages of 50 and 75 unless the borrower is in an industry where the Inland Revenue permits earlier retirement. The pension also needs to provide you with an income during retirement, so only twenty five percent of the pension fund can be taken as a lump sum to pay of your mortgage.


Closed end mortgage

Closed end mortgage

Mortgage against which no additional debt may be issued.


Strip mortgage participation certificate (strip PC)

Strip mortgage participation certificate (strip PC)

Ownership interests in specified mortgages purchased by Freddie Mac from a single seller in exchange for separate instruments representing interests in the same mortgages.


Mortgage

Mortgage

(1) To hypothecate as security, real property for the payment of a debt. The borrower (mortgagor) retains possession and use of the property. (2) The instrument by which real estate is hypothecated as security for the repayment of a loan.


Further Suggestions

graduated payment mortgage
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mortgage life insurance
Shared appreciation mortgage
Federal National Mortgage Association (FannieMae)
pension mortgage
Standing mortgage
Federal Home Loan Mortgage Corporation (FHLMC)
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mortgage
Alternative mortgage instruments
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Mortgage cash surplus
First Mortgage


 
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