CrownedQueen
24.10.2021 •
Business
Describe the growing-equity mortgage. A growing-equity mortgage allows borrowers to repay their loans on a graduated basis over the first 5 to 10 years and then they level off after this period. A growing-equity mortgage requires interest payments for a three- to five-year period and full payment at the end of the period. A growing-equity mortgage requires continual increasing mortgage payments throughout the life of the mortgage. A growing-equity mortgage allows a home purchaser to obtain a mortgage at an interest rate below market rates, while in return the lender will share in the price appreciation of the home. -Select- How does the growing-equity mortgage differ from a graduated-payment mortgage
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