shared-appreciation mortgage

[ shaird-uh-pree-shee-ey-shuhn ]
/ ˈʃɛərd əˌpri ʃiˈeɪ ʃən /

noun

a type of mortgage that carries a smaller down payment or lower interest rate than usual in return for the lender's sharing in the appreciation of the property at some future date, as at the time of its sale. Abbreviation: SAM

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Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020