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Gift
Gift In the context of mortgage banking, a gift is a bestowal of money that does not have to be repaid, and which is used for a down payment or closing costs.
RELATED TERMS--------------------------------------
Mortgage
A legal document pledging property as security for the payment of a loan.
Gift
In the context of mortgage banking, a gift is a bestowal of money that does not have to be repaid, and which is used for a down payment or closing costs.
Closing
A period of time, usually less than seven days, after a registration statement is effective and the offering commences, giving the underwriters time to receive payment for the securities
SIMILAR TERMS--------------------------------------
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General warranty deed
A deed in which the grantor fully warrants good clear title to the premises.
Geodesic dome
A structure constructed of lightweight bars forming a grid of polygons.
Geographic farming
Farming-prospecting an area defined by specific "geographic" boundaries. The best geographic farms are particular subdivisions with similar demographics, such as: the price of homes, the ages of residents, family composition, etc.
Georgian style
Popular throughout the 18th century, this type of architecture is distinguished by a symmetrical facade, prominent front entrance and quoins-decorative blocks of masonry or wood set in the corners of the house.
GFE
Good faith estimate. A written estimate of expected closing costs that a lender must provide a prospective homebuyer within three days of the homeowner submitting a mortgage loan application.
Gift
Gift deed
A deed in which the consideration is "love and affection." Because the deed is not supported by valuable consideration, the donee (recipient of the gift) may not be able to enforce against the donor certain promises or agreements contained in the deed.
Gingerbread decoration
An intricate, almost lacy, wood trim.
Ginnie Mae
Government National Mortgage Association (GNMA)
Girders
Crossbeams that support floor joists.
GNMA
Government National Mortgage Association
This dictionary contains 6433 terms. |
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