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Glossary of terms and acronyms used on this site

There are 93 entries in this glossary.
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G

Term Definition
Ginnie Mae

Government National Mortgage Association (GNMA); a government-owned corporation overseen by the U.S. Department of Housing and Urban Development, Ginnie Mae pools FHA-insured and VA-guaranteed loans to back securities for private investment; as With Fannie Mae and Freddie Mac, the investment income provides funding that may then be lent to eligible borrowers by lenders. Source: www.hud.gov

Graduated Payment Mortgages

Mortgages that begin with lower monthly payments that get slowly larger over a period of years, eventually reaching a fixed level and remaining there for the life of the loan. Graduated payment loans may be good if you expect your annual income to increase. Source: www.hud.gov

Grantee

An individual to whom an interest in real property is conveyed.

Grantor

An individual conveying an interest in real property. Source: www.hud.gov

Gross Income

Money earned before taxes and other deductions. Sometimes it may include income from self-employment, rental property, alimony, child support, public assistance payments, and retirement benefits. Source: www.hud.gov

GSE

Government-sponsored enterprises (Fannie Mae and Freddie Mac)

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