Glossary of terms used on this site
There are 105 entries in this glossary.G
| Term | Definition |
|---|---|
| Gift Letter |
A letter from one who is giving money to a buyer for part of the down payment. |
| Graduated Payment Mortgage (GPM) |
A mortgage loan that begins with a low monthly payment that gradually increases to an amount necessary to amortize the loan over the term. Its purpose is to help buyers who expect future income to increase |