Popular name for a Department of Veterans Affairs guaranteed mortgage, authorized under the Serviceman's Readjustment Act of 1944. GI loans, guaranteed up to a certain amount, are all used for residential purposes such as buying a home or a condominium unit, refinancing, or making home improvements. Unlike most conventional mortgage loans, these loans are Assumable Mortgages-transferable to a new mortgagor when a house is sold. The Department of Veterans Affairs, a cabinet-level agency succeeding the Veterans Administration, also makes direct loans to qualified veterans.
Gi Loan
| Banking Dictionary: Gi Loan |
| 5min Related Video: Gi Loan |
| Real Estate Dictionary: Gi Loan |
Same as Va Loan.
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 | Gi Bill (legal term) |
| First Nationwide Bank |
| CitFed Bancorp, Inc. |
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 | Can you use your grandfathers GI loan if he never used it? |
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| Can you repay your current loans with the GI-bill? |
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Copyrights:
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 | Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved. Read more |
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| Real Estate Dictionary. Dictionary of Real Estate Terms. Copyright © 2004 by Barron's Educational Series, Inc. All rights reserved. Read more |
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