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VWXYZgovernment 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 government-owned corporation within the
U.S. Department of Housing and Urban
Development (HUD). Created by Congress on
September 1, 1968, GNMA assumed
responsibility for the special assistance
loan program formerly administered by Fannie
Mae. Popularly known as Ginnie Mae.
grantee
The person to whom an interest in real
property is conveyed.
grantor
The person conveying an interest in real
property.
ground rent
The amount of money that is paid for the use
of land when title to a property is held as
a leasehold estate rather than as a fee
simple estate.
group home
A single-family residential structure
designed or adapted for occupancy by
unrelated developmentally disabled persons.
The structure provides long-term housing and
support services that are residential in
nature.
growing-equity mortgage (GEM)
A fixed-rate mortgage that provides
scheduled payment increases over an
established period of time, with the
increased amount of the monthly payment
applied directly toward reducing the
remaining balance of the mortgage.
guarantee mortgage
A mortgage that is guaranteed by a third
party.
guaranteed loan
Also known as a government mortgage.
