Mortgage Library

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Ginnie Mae

See Government National Mortgage Association.

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.

Gross Monthly Income

The total amount the borrower earns per month, before any taxes or expenses are deducted.