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.
Fixed mortgage rates were slightly higher this week.
The 30-year fixed mortgage rate rose to 4.51 percent this week.
Mortgage rates pulled back slightly this week.
The benchmark 30-year fixed-rate mortgage rose to 4.5 percent.
The benchmark 30-year fixed mortgage rate inched lower.
Can a couple find common ground when it comes to debt?
Follow this 6-month homeowner countdown so you are ready come closing day.
Pay attention to fees on prepaid cards because in most cases you can avoid them.
Sleep better at night knowing you have extra money tucked away for unplanned expenses.
Do you want your kids to be smart about money? Follow these tips to get them started.
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A little research could save you BIG on interest.
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