General Warranty Deed
A deed in which the grantor (seller) agrees to the protect the grantee (buyer) against any other claim to title of the property.

Gift Letter
A written explanation signed by the individual giving the gift stating, "This is a bona fide gift and there is no obligation expressed or implied to repay this sum at any time."

Good Faith Estimate
An estimate of charges which a borrower is likely to incur in connection with a loan closing. Receipt of a Good Faith Estimate is not the same as a Loan Approval, and is subject to change before an actual loan is approved by a lender.

Government Loan (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). Mortgages that are not government loans are classified as conventional loans.

Government National Mortgage Association (Ginnie Mae)
A government-owned corporation within the U.S. Department of Housing and Urban Development (HUD). Created by Congress on September 1, 1968, GNMA performs the same role as Fannie Mae and Freddie Mac in providing funds to lenders for making home loans. The difference is that Ginnie Mae provides funds for government loans (FHA and VA).

Graduated Payment Mortgage (GPM)
A mortgage that has lower payments initially (with potential negative amortization) which increase each year until the loan is fully amortized.

Grantee
The person to whom an interest in real property is conveyed. The Grantor is the seller or giver.

Gross Monthly Income
Total monthly income earned before tax and other deductions.