G/E CAPITOL
The General Electric Capitol Corporation insures high ratio mortgages for lenders.


GALE DATE
The dates on which interest is charged or compounded on the mortgage loan.


GAP FINANCING
A loan required by a builder to obtain funds during the period between a permanent take out commitment and a construction loan. The construction lender will usually require permanent mortgage commitment to the full amount of the construction loan plus a hold back provision that only the "floor" amount will be funded at the completion of construction.


GENERAL CREDITOR
A creditor who has no security other than the promise of the debtor.


GRADUATED AMORTIZATION MORTGAGE
A special method of repayment on a mortgage whereby repayments in the initial period are low and are gradually later stepped up at a higher rate. Graduated payment mortgages were devised to enable lower income families to become home owners.


GRANT
A technical term used in deeds of conveyance to indicate a transfer of an interest or estate in land.


GRANTEE
The party to whom an interest in real property is conveyed (the buyer).


GRANTOR
The person who conveys an interest in real estate by deed (the seller).


GROSS RENT MULTIPLIER
Method of appraising the fair market value of property by multiplying the gross rents by a factor which varies according to the type of property, and the location of the property.


GUARANTEED INCOME MORTGAGE
A guarantee included in a purchase money mortgage by a seller-mortgagee that there will be a minimum cash-flow or net operating income to the purchaser mortgagee. The guarantee is limited to a short period and may be combined with a  management contract whereby the seller, as manager, will operate the property.


GROSS DEBT SERVICE (GDS)
The percentage of gross annual income required to cover payments associated with housing. If the dwelling unit is a condo, all or a portion of common fees are included, depending on what expenses are covered.


GROSS DEBT SERVICE RATIO
Allowable ration of payments for principal, interest and taxes to gross income.


GROSS INCOME
The scheduled income from the operation of the business of management of the property, customarily stated on an annual basis.


GUARANTOR
A third party without interest in the property who agrees to assume responsibility for a debt in the event of default by the mortgagor.