Mortgage Glossary - G

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GFE - Good Faith Estimate of Buyers Loan Charges.

Ginnie Mae - See Government National Mortgage Association.

Government National Mortgage Association (GNMA) - Also known as Ginnie Mae, provides sources of funds for residential mortgages, insured or guaranteed by FHA or VA.

Graduated Payment Mortgage (GPM) - A type of flexible-payment mortgage where the payments increase for a specified period of time and then level off. This type of mortgage has negative amortization built into it.

Grant Deed - A Grant Deed is the most common form of title transfer deed. A Grant Deed contains warranties against prior conveyances or encumbrances.

Gross Monthly Income - The total amount the borrower earns per month, before any expenses are deducted.

Guarantee - A promise by one party to pay a debt or perform an obligation contracted by another if the original party fails to pay or perform according to a contract.