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GI Loan: A loan guaranteed by the Veterans
Affairs.
Gift Deed: A deed for which owes nothing
and where there is no material consideration.
Ginnie Mae: A government-owned
corporation created in 1968 within the U.S.
Department of Housing and Urban Development
(HUD) that provides funds to lenders for making
government home loans.
Government Loan: A mortgage that is
insured by the Federal Housing Administration
(FHA) or guaranteed by the Department of
Veterans Affairs (VA) or the Rural Housing
Service (RHS). Mortgages that are not government
loans are classified as conventional loans.
Government Mortgage: A mortgage that is
insured by the Federal Housing Administration
(FHA) or guaranteed by the Department of
Veterans Affairs (VA) or the Rural Housing
Service (RHS). Mortgages that are not government
loans are classified as conventional loans.
Government National Mortgage Association:
A government-owned corporation created in 1968
within the U.S. Department of Housing and Urban
Development (HUD) that provides funds to lenders
for making government home loans.
Graduated Lease: A type of long-term
lease agreement with a fixed rental fee during
the initial period of the lease with fee
fluctuations at specific times during the
balance of the contract term.
Grant Deed: A document that is used to
transfer a property's ownership.
Grantee: The purchaser; the person to
whom a grant is made.
Grantor: Seller of property; one who
signs a deed.
Gross Income: The total income of the
borrower before taxes or expenses are deducted
Guarantee of Title: The opinion of a
title company backed by its assets as to the
true condition of the title to a certain piece
of land at a particular time, as shown by the
public records in the recording office.
Guarantor: One who guarantees the
performance of another.
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