Growing Equity Mortgage(redirected from Growing Equity Mortgages)
Growing Equity Mortgage (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.