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  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.
   
   
   


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