G – First Colony
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mortgage glossary

A B C D E F G H I J L M N O P R S T U V

Good Faith Estimate

The form that lists the settlement charges the borrower must pay at closing, which the lender is obliged to provide the borrower within three business days of receiving the loan application.

Grace Period

The period after the payment due date during which the borrower can pay without being hit for late fees. Usually this period is fifteen days.