An Evaluation of the Asset Integrated Mortgage

UNCG Author/Contributor (non-UNCG co-authors, if there are any, appear on document)
Gustav D. Jud, Retired (Creator)
Daniel T. Winkler, Professor (Creator)
The University of North Carolina at Greensboro (UNCG )
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Abstract: The Federal National Mortgage Association (FNMA) recently approved a new type of hybrid mortgage, the Asset Integrated Mortgage (AIM), that combines a home loan and a fixed insurance annuity. The borrower invests most of the money in an annuity that is normally earmarked for the down payment. As long as the annuity investment plus the down payment exceeds 20 percent of the home's worth, the borrower avoids mortgage insurance costs, just like a conventional mortgage with 20 percent down. The AIM is being promoted as a way for consumers to save, diversify their asset base and build a nest egg for retirement.(1)

Additional Information

Real Estate Issues, vol. 20, no. 1, April 1995, pp. 30-32.
Language: English
Date: 1995
Mortgage, Finance, Evaluation

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