GROWING-EQUITY MORTGAGE


Meaning of GROWING-EQUITY MORTGAGE in English

/groh"ing ek"wi tee/

a type of mortgage under which the interest rate is fixed but monthly payments increase annually to include more of the principal, so that the mortgage can be paid off in about half the conventional term.

Random House Webster's Unabridged English dictionary.      Полный английский словарь Вебстер - Random House .