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- Home equity conversion mortgage
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Home equity conversion mortgage
Loans made to older owners who want to convert equity into money. Because borrowers are qualified on the basis of the value of their home, e, the loan is not the same as a home equity loan. Also known as reverse mortgages.
Related Terms
Home equity loan
Growing-equity mortgage
Credit union
Sweat equity
Construction to permanent loan
Reverse mortgage
Truth-in-Lending Act
Federal Home Loan Mortgage Corporation law
Partnership
Alternative mortgage
Rehabilitation mortgage
Condominium conversion
Buy-down mortgage
End loan
Freddie Mac
Equity
Homesteading
Trade equity
Fixed-rate mortgage
Lender
Mortgage
Shared-appreciation mortgage
Shared-equity transaction
Mortgage banker
Secondary mortgage market
Purchase-money mortgage
Fully amortized adjustable-rate mortgage
Biweekly mortgage
Blanket mortgage
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