Glossary
G
Good Faith Estimate -
An estimate of charges which a borrower is likely to incur in connection with a
loan closing.
Government Loan -
A type of mortgage insured by the FHA (Federal Housing Authority), VA (Veteran's
Administration), or RHS (Rural Housing Authority).
Government National Mortgage Association (Ginny Mae) -
Provides funds for government loans and takes over special assistance and
liquidation functions of Fannie Mae.
Grace Period -
A time allowed, usually 15 days, for making late payments without a penalty.
Grantee -
The person to whom an interest in real property is conveyed.
Grantor -
The person conveying an interest in real property.
Gross Monthly Income -
The total amount the borrower earns per month, not counting any taxes or
expenses. Often used in calculations to determine whether a borrower qualifies
for a particular loan.
Good Faith Estimate -
An estimate of charges which a borrower is likely to incur in connection with a
loan closing.
Government Loan -
A type of mortgage insured by the FHA (Federal Housing Authority), VA (Veteran's
Administration), or RHS (Rural Housing Authority).
Government National Mortgage Association (Ginny Mae) -
Provides funds for government loans and takes over special assistance and
liquidation functions of Fannie Mae.
Grace Period -
A time allowed, usually 15 days, for making late payments without a penalty.
Grantee -
The person to whom an interest in real property is conveyed.
Grantor -
The person conveying an interest in real property.
Gross Monthly Income -
The total amount the borrower earns per month, not counting any taxes or
expenses. Often used in calculations to determine whether a borrower qualifies
for a particular loan.
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| For additional questions please contact me at 281-650-7592 or via e-mail at kowens@closingjust4you.com |
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