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Real Estate Terms starting with (G)

The Following are real estate terms and topics: Starting With the Letter (G)

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Are you confused and overwhelmed by the extensive terms and words used in real estate? Every person working in real estate or planning to buy or sell real estate can benefit from learning some of the terms….

Real Estate Terms G

Real Estate Terms G

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). Contrast with Conventional Mortgage.

Government National Mortgage Association
A federal government-sponsored enterprise that issues securities backed by a pool of mortgages and guaranteed by GNMA, which passes through to investors the principal and interest payments of homeowners.

Grantee
The person to whom an interest in real property is conveyed.

Grantor
The person conveying an interest in real property.

Ground rent
Rent paid for the land, usually for a long-term lease or in perpetuity, where the land-owner and the owner of improvements are different; the improvements are effectively security for the payment of the rent

Group home
A residence that offers housing and personal care services for three to 16 residents. Services such as meals, supervision, and transportation are usually provided by the owner or manager.

Growing-equity mortgage (GEM)
Type of home loan whereby, even though a fixed rate of interest is locked-in, payments still, gradually, increase as time goes by. The advantage of this type of loan is that it allows for funds borrowed to be paid back in a shorter period of time, the average being 15 years.

Guarantee mortgage
A land loan that has a third party added to provide added assurance that the obligations under the loan will be met.

Guaranteed loan
A loan made by a bank upon which a government agency has insured partial reimbursement to the bank in the event the borrower defaults.

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