[ groh-ing-ek-wi-tee ]
/ ˈgroʊ ɪŋˈɛk wɪ ti /
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.
GEE WHILLIKERS! WAIT TILL YOU SEE THIS WORD OF THE DAY QUIZ!
Do you remember all the words from last week, September 21–27, 2020? Then this quiz should be butyraceous.
Question 1 of 7
What does “yare” mean?
Words nearby growing-equity mortgage
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020