A Growing Equity Mortgage (GEM) is a type of fixed-rate mortgage where monthly payments increase over time according to a set schedule, leading to faster repayment and reduced interest cost over the life of the loan.
A Growing-Equity Mortgage (GEM) is a type of mortgage loan where the payment increases by a specific amount each year, with the extra payment amount applied toward reducing the principal balance, thereby shortening the loan's maturity period compared to a traditional fixed-payment mortgage.
