Definition
Good Faith Estimate
The predecessor to the Loan Estimate, replaced for most mortgages in 2015.
Nearby terms
Gift Funds
Money given by an eligible donor toward down payment or closing costs, documented with a gift letter confirming no repayment is expected.
Ginnie Mae
The Government National Mortgage Association, which guarantees securities backed by government-insured loans including FHA and VA.
Hazard Insurance
Property insurance covering physical damage, required by lenders as a condition of the loan.
HELOC
A home equity line of credit — a revolving, usually variable-rate credit line secured by the property, typically in second lien position.
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