Gift Income
Money received on a regular basis as a gift, not compensation for employment or distributions under the terms of a trust or estate.

GNMA
The Government National Mortgage Association, or any successor thereto.

Good Delivery
A term indicating that a transaction has met all relevant guidelines, such as deadlines for delivery of the loan and the quality of the collateral.

Good Faith Estimate
An estimate of charges which a borrower is likely to incur in connection with a loan closing.      [TOP]

Gross Monthly Income
The total amount the borrower earns per month, not counting any taxes or expenses. Often used in calculations to determine whether a borrower qualifies for a particular loan.