Mortgage Loans Terms For Home Mortgages And Lending | G - I
Government National Mortgage Association (GNMA) - The GNMA, also known as "Ginnie Mae," is another institution that provides funding for residential mortgage loans that are insured by the FHA or the VA.
Graduated Payment Mortgage - This type of mortgage features flexible payments that increase for a predetermined period of time and then become fixed.
Guaranty - This is a promise made by a party to pay a debt or follow through on a specified obligation, as contracted by another party.
Hazard Insurance - The insurance company offers this to protect its clients from specified losses, including fires, floods, etc.
Housing Expenses-to-Income Ratio - See Debt-to-Income Ratio.
Impound - The portion of a borrower’s monthly dues that is held by the lender and put towards taxes, insurance, and any other fees.
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