One of the big benefits is that you save a huge amount of money in interest. With GEM financing, your mortgage payments will increase over time which will allow you to pay more towards the principal repayment.
The faster you repay the principal, the less interest you will pay on the loan. As a result, you save a significant amount of money over the tenure of your loan.
Another advantage is that you can pay it off faster than the traditional way. Think about what it would be like to pay off a 30-year loan in 15 years.
If you get a GEM, you no longer have to worry about the biggest obligation once it is paid in full.
Another benefit of a GEM loan is that you can build equity in your home more quickly.
You can use your home equity to borrow funds against it in case of emergency. You can use a home equity loan, HELOC, or mortgage refinancing to cover major expenses in the future like paying off your high-interest debts, remodeling, student loans, etc.
If you are using home equity for home improvement purposes, you can deduct the interest from your taxes.