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 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.
