Everything You Need To Know About Loans
|  Loan Dictionary  |    |  

  Growing-Equity Mortgage (GEM) Definition
Growing-Equity Mortgage (GEM) With a growing equity mortgage, your monthly payment amounts increase, but the interest rate of the loan remains the same. When your payment increases, the extra amount is applied towards the principal of your loan enabling you to pay off the balance more quickly. With this type of loan, your 30-year mortgage can be reduced to 20 years or less.

    Next Steps: Read Money Saving Loan Advice and Find Lenders with the LOWEST Loan Rates.
Mortgage Loans Home Refinancing Home Equity Loans Vehicle Loans Auto Refinancing

Home Loans & Car Loans Search

Home Refinancing | Home Mortgages | Home Equity Loans & Line of Credit | Auto & Motorcycle Loans | Auto Refinance Loans
Home - Loans | About EchoBay Loans | Loan Advice | SitemapCredit Report Help CenterDefinition Dictionary

Copyright© 2008, EchoBay Loans Company
Mortgage Refinancing Home Loans Home Equity Loans Auto & Motorcycle Loans Auto Refinancing Credit Reports