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Good Faith Estimate: Written estimate of the settlement costs the borrower will likely have to pay at closing. Under the Real Estate Settlement Procedures Act (RESPA), the lender is required to provide this disclosure to the borrower within three days of receiving a loan application.

Government-based income streams
: Cash flows paid by a government entity, either directly or through an insurance company.

Grace Period: Period of time during which a loan payment may be made after its due date without incurring a late penalty. The grace period is specified as part of the terms of the loan in the Note.

Gross Income: Total income before taxes or expenses are deducted.