An estimate from an institutional lender that shows the costs a borrower will incur, including loan-processing charges and inspection fees. …
Gore
A thin triangular piece of land, the boundaries of which are defined by surveys of adjacent properties. Loosely, an overlap or gap between properties. …
Government National Mortgage Association
Commonly known as Ginnie Mae, this agency buys home loans from lenders, pools them with other loans and sells shares to investors. Unlike similar agencies Fannie Mae and Freddie Mac, Ginnie Mae only …
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GPM (graduated-payment Mortgage)
A mortgage that requires a borrower to make larger monthly payments over the term of the loan. The payment is unusually low for the first few years but gradually rises until year three or five, then …
Grace Period
A specified amount of time in which a borrower may make a loan payment after its due date without penalty. …
Grade
The elevation of land above level ground. …