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If you are going to get a GNMA mutual fund, go to Vanguard.
If you are going to buy a GNMA directly, unless you are going to bid at auction and buy a lot of several million dollars, you will have to pony up the spread and commission to a broker who sells them. Not all discount brokers do. You are correct, for a newly issued one the minimum investment is $25000.
You can get a used GNMA, on which part of the principal has been paid back, on the secondary market, but the spread on those tends to be worse than on the newly issued ones.
I've bought GNMAs in the past, but currently the yield is too low to be attractive. Of course, the yield on other fixed income investments is also too low to be attractive!
Best wishes, Chris
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