Growing Equity Mortgage Articles and FHA Updates- FHA News and Views

Articles in Category: Growing Equity Mortgage

January 20, 2011

FHA Loans for Unique Properties

House hunting has some unique challenges depending on the type of property a buyer wants. When an FHA loan applicant finds a home that isn't quite standard but still desirable, the buyer and seller alike may be a bit nervous when it's time to have the property looked over by an FHA assigned appraiser. Sometimes establishing fair market value isn't the reason for those nervous feelings; the buyer and/or seller might be worried the property won't get appraised at all because of those features.

December 21, 2010

What is an FHA Growing Equity Mortgage?

By Joe Wallace

For every new home owner, there is a different set of needs. FHA mortgages are designed to serve a range of preferences. Some people apply for an FHA home loan looking simply for low monthly payments. Others purchase homes looking for lower interest rates so they can save money over the lifetime of the FHA loan. Still others want to purchase homes with shorter commitment times. For those who want shorter mortgage terms, the FHA Growing Equity Mortgage or GEM is an option worth looking into. GEMs are basically Graduated Payment Mortgages; they let the borrower pay off the principal faster while shortening the mortgage term by increasing the payments over time.