Gem(redirected from stones, precious)
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Related to stones, precious: Precious metals, Semi precious stones
GEM (growing equity mortgage)
growing equity mortgage (GEM)
A home loan arrangement in which the payments are increased each year by a specific amount,with the additional money credited to additional principal reduction. As a result, the loan is paid in full earlier than the normal amortization period.The FHA-
insured GEM program is called a 245(a) loan.