mortgage

What is a growing-equity mortgage?

 

 

What is a growing-equity mortgage?

The Bankrate.com financial term of the day is: "Growing-Equity Mortgage"

Think you've found your dream home but don't want to be stuck paying a mortgage for 30 years? A growing-equity mortgage is a fixed-rate home loan that gradually increases the size of your monthly payment so that you pay off your mortgage more quickly and save on interest.

A growing-equity mortgage boosts the size of your mortgage payment over time, allowing you to gain equity over a shorter time frame.

To compare home loans, visit the Mortgages section at Bankrate.com.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
 

A little research could save you BIG on interest.

Don't have time? Our rate-tracker tool saves you time and money. Delivered Thursdays.
 
advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

Check credit before auto loan

The news that an auto finance company distorted consumer credit records for years is a good reminder to check your credit report regularly.  ... Read more


Connect with us