Like many other industries, the real estate industry has its own unique language and vocabulary. Without some knowledge of this specialized language, you may find yourself a bit confused if you become involved in a real estate transaction.

Whether entering the real estate market for the first time or if you have invested before, this handy reference will provide an understanding of basic real estate words and phrases.

Ginnie Mae (GNMA) – Government National Mortgage Association. A federal association working with the FHA that offers special assistance in obtaining mortgages and purchases mortgages in the secondary market.

Grant – To bestow or confer, with or without compensation, a gift such as land or money by one having control or authority over the gift.

Grantee – One to whom a grant is made.

Grantor – One who makes a grant.