Understand the most important lending and mortgage terms. Mortgages can be confusing for the first time home buyer, so let us help explain. Below you'll find explanations for most of the mortgage industry terms.

What is Ginnie Mae? See Government National Mortgage…
Written by Henry Gilbert
What is GNMA? See Government National Mortgage…
Written by Henry Gilbert
What is Good faith estimate? This document sets out the costs associated with a mortgage, including the interest rate, lender fees, title charges, pre-paid interest and insurance. The government requires that your lender give…
Written by Henry Gilbert
What is Government National Mortgage Association (GNMA or Ginnie Mae)? A government agency that provides funds for VA and FHA…
Written by Henry Gilbert
What is GPM? See Graduated Payment…
Written by Henry Gilbert
What is Grace period? Period of time during which a loan payment may be made after its due date without incurring a late…
Written by Henry Gilbert
What is Graduated Payment Mortgage (GPM)? A mortgage with initial low payments (with potential negative amortization) that increase regularly for several years and then level…
Written by Henry Gilbert
What is Gross? Before…
Written by Henry Gilbert
What is Gross income? Total income before taxes or expenses are…
Written by Henry Gilbert
What is Gross monthly income? The total amount earned by a borrower each…
Written by Henry Gilbert
What is Growing-Equity Mortgage (GEM)? A fixed-rate mortgage that provides scheduled payment increases over an established period of time. The increased amount of the monthly payment is applied directly toward reducing the remaining…
Written by Henry Gilbert
What is Guarantee? To assume liability for another's debts in the event of…
Written by Henry Gilbert
What is Guarantee Mortgage? A mortgage that is guaranteed by a third…
Written by Henry Gilbert
What is Guaranty? A promise by one party to pay a debt or perform an obligation contracted by another in case of that person's…
Written by Henry Gilbert


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