Terms with Tag Mortgage
- Foreclosure — Definition,
- The legal process by which a borrower in default under a mortgage is deprived of his or her interest in the mortgaged property. This usually involves a forced sale of the property at public auction with the proceeds of the sale being applied to the mortgage debt.
- Frontline Financial Credit Union (FFCU) — Company, Ottawa, Ontario, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Full Income Verification — Definition,
- A requirement for fully documented proof of income; loans of this type usually offer lower interest rates than no-income or "no-doc" verification loans.
- Fully Indexed Accrual Rate (FIAR) — Acronym, Important, ➥ In relation to adjustable rate mortgage (ARMs).
- Fully Indexed Rate (FIR) — Acronym, ➥ A term used in adjustable rate mortgage (ARMs).
- Furniture, Fixtures & Equipment (FF&E, FFE) — Acronym, ➥ Mortgage lender term.
- Ganaraska Credit Union — Company, Ontario, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- General Motors Acceptance Corporation Commercial Mortgage (GMACCM) — Company,
- Gift From a Family Member — Definition,
- A gift of cash, to a mortgage applicant from a relative by blood or marriage, which the applicant is not required to repay. In some instances it is necessary to provide a written statement to that repayment is not required.
- Glace Bay Central Credit Union — Company, Nova Scotia, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Good Credit — Definition,
- Someone who carries little credit risk.
- Good Faith Estimate (GFE) — Acronym, United States,
- Document prepared by US lender that provides an estimation for total closing costs.
- Goodsoil Credit Union — Company, Saskatchewan, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Govan Credit Union — Company, Saskatchewan, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Graduated Payment Adjustable Mortgage Loan (GPAML) — Acronym, ➥ (Graduated Payment Mortgage)
- Graduated Payment Adjustable Rate Mortgage (GPARM) — Acronym, ➥ (Graduated Payment Mortgage)
- Graduated Payment Mortgage (GPM) — Acronym,
- A fixed rate residential mortgage that begins with low monthly payments (with a potential negative amortization) that increases over a predetermined period (usually annually) with later payments costing up to 10% more.
- Graduated Terms Mortgage (GTM) — Acronym, United States, ➥ A US mortgage term.
- Grand Forks District Savings Credit Union (GFDSCU) — Company Est. 1949, Grand Forks, British Columbia, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Grandview Credit Union — Company, Manitoba, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Greater Vancouver Community Credit Union (GVC, GVCCU) — Company Est. 1940, British Columbia, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Gross Debt Service (GDS) — Acronym, Very Important,
- The total monthly mortgage (or rent) payments, property taxes, utilities and maintenance fees as a percentage of gross monthly income.
➥ Used by mortgage lender underwriters to determine one's ability to qualify for a mortgage loan. - Gross Debt Service Ratio (GDSR) — Acronym,
- Guarantor — Definition,
- Someone who guarantees something.
- Guaranty — Definition,
- A promise to assume responsibility for a debt if the borrower defaults.
- Gulf and Fraser Fishermen's Credit Union — Company, British Columbia, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Halifax Civic Credit Union — Company, Nova Scotia, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Hamilton Municipal Employees' Credit Union — Company Est. 1936, Ontario, Canada, Important, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Hamilton Teachers' Credit Union (HTCU) — Company Est. 1940, Hamilton, Ontario, Canada, ➥ Teachers Credit Union is a registered business name of Hamilton Teachers' Credit Union Limited. A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Hazard Insurance — Definition,
- Insurance that covers hazards that are considered risky enough not to be covered by a standard insurance policy.
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