Gable roof A ridged
roof that forms a triangle at each end.
Gag rules A provision
in contracts signed by new buyers that prohibits the
owners from publicizing complaints about the builder.
Gambrel roof A roof
with two slopes, often seen on barns.
General contractor
The person who hires all of the subcontractors and suppliers
for a project.
General plan A government's
long-range land-use plan.
Geodesic dome A structure
constructed of lightweight bars forming a grid of polygons.
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.
Gift A cash gift a
buyer receives from a relative or other source. Lenders
usually require a "gift letter" stating that
the money will not have to be repaid.
Gingerbread decoration
An intricate, almost lacy, wood trim.
Girders Crossbeams
that support floor joists.
Good-faith estimate
An estimate from an institutional lender that shows
the costs a borrower will incur, including loan-processing
charges and inspection fees.
Government National Mortgage
Association Commonly known as Ginnie Mae, this
agency buys home loans from lenders, pools them with
other loans and sells shares to investors. Ginnie Mae
differs from its cousins, Fannie Mae and Freddie Mac,
in that it only purchases loans backed by the federal
government.
Grace period A specified
amount of time to make a loan payment after its due
date without penalty.
Grade The elevation
of land above level ground.
Grade level The flat
or sloping surface upon which a house is built.
Graduated-payment mortgage (GPM)
A mortgage that requires a borrower to make larger monthly
payments over the term of the loan. The payment is unusually
low for the first few years but gradually rises until
year three or five, then remains fixed.
Granny flat Slang term
for a separate unit in a house or above the garage,
which in the past may have been occupied by an elderly
relative.
Grantee A person conveyed
an interest in a piece of property.
Grantor The person
who conveys an interest in a piece of property to another
person.
Greek Revival style
A style introduced in the U.S. at the end of the 18th
century. Its most prominent feature is a pillar-anchored
pediment forming a portico in the front of the house.
Greenbelt Any stretch
of park, open space or other natural setting in a community.
Gross income The total
income of a household before taxes or expenses are subtracted.
Ground fault circuit interrupter
Devices that detect leakage of electrical current to
the ground and prevent accidental shock.
Ground rent The amount
of money paid for the use of a piece of property when
it is a leasehold estate.
Group home A single-family
residence used as a living space for unrelated, developmentally
disabled or mentally disabled people.
Growing-equity mortgage
A fixed rate mortgage that increases payments over a
specific period of time. The extra funds are applied
to the principal.
Guarantee mortgage
A loan guaranteed by a third party, such as a government
institution.
Gutters Horizontal
channels installed at the edge of a roof to carry rainwater
or melted snow away from the house.
