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Growing Equity Mortgage (GEM) |
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Growing Equity Mortgage (gem)A fixed rate, graduated payment loan allowing low beginning payments and a shorter term because of higher payments as the loan progress. Based on the theory of increasing income by the buyer and, therefore. ability to make higher future payments. When state law applies, usury laws in some states may not presently allow such loans when less than interest only payments create interest on interest.Growing Equity Mortgage (GEM)Mortgage with a fixed interest rate and payments that increase throughout the term of the mortgage.Growing Equity Mortgage (GEM) Similar MatchesFixed rate mortgageFixed rate mortgageA type of mortgage where interest repayments to the lender are fixed until maturity or for a specified term. Mortgage BankerMortgage BankerA company providing mortgage financing with its own funds rather than simply bringing together lender and borrower, as does a mortgage broker. Although the mortgage banker used its own funds, these funds are generally borrowed and the financing is either short term or, it long term, the mortgages are sold to investors (many times insurance companies) within a short time. Alternative mortgage instrumentsAlternative mortgage instrumentsVariations of mortgage mortgage such as mortgage and variable-rate mortgages, mortgage, mortgage and several seldom-used variations. Low start mortgageLow start mortgageThis is like a repayment mortgage, but with a difference. In the introductory period, only interest is paid back to the lender and not any of the capital outstanding. After this period, the repayments start in earnest. The total amount of interest and repayments over the life of the year are higher than with a normal repayment mortgage, but this sacrifice can be worth it if you need to severely restrict your outgoings during the low start period. Variable rate mortgageVariable rate mortgageA mortgage where the interest rate is not fixed and which is dependent on influences such as interest rates on Treasury securities in the US or base rate in the UK. Further SuggestionsCommercial Mortgage Backed Securitiesmortgage Mortgagee Blanket Mortgage Cooperative mortgages Pension mortgage discounted rate mortgage Capped rate mortgage Mortgage interest deduction Private Mortgage Insurance Collateralized mortgage obligation (CMO) Federal National Mortgage Association Purchase money mortgage Mortgage Insurance Junior mortgage Shared appreciation mortgage Mortgage pipeline Mortgage cash surplus Blanket Mortgage Wraparound mortgage Wraparound mortgage Flexible mortgage First mortgage second mortgage pension mortgage |
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