• A
• B
• C
• D
• E
• F
• G
• H
• I
• J
• L
• M
• N
• O
• P
• Q
• R
• S
• T
• U
• V
• W
• Y
• Z
• 1
• 2
• 3
• 4
• 5
• 7
• 8

G

Good Faith Estimate

An estimate of all closing fees including pre-paid and escrow items as well as lender charges; must be given to the borrower within three days after submission of a loan application.

Government Loan

A loan that is insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA) or the Rural Housing Service (RHS). Contrast with conventional loan.

Government National Mortgage Association (GNMA or Ginnie Mae)

A government-owned corporation within the U.S. Department of Housing and Urban Development (HUD). Created by Congress on September 1, 1968, GNMA assumed responsibility for the special assistance loan programs formerly administered by Fannie Mae.

Graduated Payment Mortgage

A scheme that allows the borrower the flexibility to pay a lower installment sum at the beginning of the loan tenure before progressing onto a higher installment sum as the borrower's purchasing power improves.

Grantee

The person to whom an interest in real property is conveyed (e.g. the buyer).

Grantor

The person who conveys an interest in real property (e.g. the seller

Gross Monthly Income

Normal annual income including overtime that is regular or guaranteed. The before taxes income may be from more than one source. Salary is generally the principal source, but other income may qualify if it is significant and stable.

Ground Rent

The amount of money that is paid for the use of land when title to a property is held as a leasehold estate rather than as a fee simple estate.

Group Home

A single-family residential structure designed or adapted for occupancy by unrelated developmentally disabled persons. The structure provides long-term housing and support services that are residential in nature.