Gable A triangular wall enclosed by the
sloping ends of a ridged roof or a triangular decorative
feature.
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.
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.
Geodesic dome A structure constructed of
lightweight bars forming a grid of polygons.
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.
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.
Grade level The flat or sloping surface
upon which a house is built.
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.
