A more thorough explanation:

A zero-rate mortgage is a type of mortgage where the borrower makes a large down payment but does not have to pay any interest on the loan. Instead, the borrower pays back the loan in equal installments over time.

For example, let's say a borrower wants to buy a house for $200,000. With a zero-rate mortgage, the borrower might make a down payment of $50,000 and then pay back the remaining $150,000 in equal installments over the life of the loan.

This type of mortgage can be beneficial for borrowers who have a large amount of cash on hand for a down payment but may not have the means to make regular interest payments. However, it's important to note that zero-rate mortgages are not very common and may be difficult to find.