Real Estate Glossary – G
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Many of the terms used during real estate transactions may be new or unfamiliar. WashMetroHomes.com has provided the real estate dictionary to assist you with better understating the terms of buying and selling real estate and the terms contained in real estate contracts and/or forms.
In light of this, WashMetroHomes.com is providing this real estate dictionary with many terms common with buying and selling real estate. Each real estate transaction is unique and the terms are all different. If you are unclear about any specific area or meaning in a real estate contract, see the help of a real estate professional such as a Realtor, Mortgage Specialist, or a competent and qualified Attorney.
Great care and research was undertaken to provide accurate definitions and explanations for the real estate terms and words in our real estate dictionary. No one real estate dictionary can be 100% accurate in all jurisdictions. The definitions provided by WashMetroHomes.com in the real estate dictionary are for general purposes only and should not be used for legal purposes. Jennifer V-E Johnson and WashMetroHomes.com disclaim any responsibility for any liability, risk or loss that may be incurred or claimed incurred as a consequence of using this information.
WashMetroHomes.com hopes you benefit from using our real estate dictionary. government mortgage Government National Mortgage Association grantee grantor ground rent group home growing-equity mortgage (GEM) guarantee mortgage guaranteed loan
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 mortage.
A government-owned corporation within the U.S. Department of Housing and Urban Development (HUD). Created by Congress on Sept. 1, 1968, GNMA assumed responsibility for the special assistance loan program formerly administered by Fannie Mae. Popularly known as Ginnie Mae.
The person to whom an interest in real property is conveyed.
The person conveying an interest in real property.
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.
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.
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.
A mortgage that is guaranteed by a third party.
Also known as a government mortgage.
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Courtesy of Jennifer V-E Johnson, Reston Expert and www.WashMetroHomes.com
