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)

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