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"Your Education Center" |
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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.
Growing Equity Mortgage (GEM)
A fixed rate mortgage that provides scheduled payment
increases over an established period of time. The increased
amount of the monthly payment is applied directly toward reducing
the remaining balance of the mortgage.
Guaranty
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.
Guarantee Mortgage
A mortgage that is guaranteed by a third party.
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