Word | Definition |
VA loans | A program that allows most veterans to purchase a house without a down payment.
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Variable Interest Rate | Interest rate which fluctuates up or down according to the cost of money
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Variable rate | An interest rate that changes with fluctuations in such indexes as the U.S. Treasury bill index.
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Variable rate mortgage | A loan with an interest rate that hinges on factors such as the rate paid on bank certificates and Treasury bills.
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Vendee | The buyer is the Vendee in a contract of sale
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Vendor | The seller is the Vendor in a contract of sale.
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Verification of deposit | Part of the loan process, in which a lender will ask a borrower's bank to sign a statement verifying the borrower's account
balances and history.
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Verification of employment | Part of the loan process, in which a lender asks the borrower's employer for confirmation of the borrower's position and
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Vestibule | A small entrance hall or room.
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Veterans Administration (VA) | The U.S. Department of Veterans Affairs operates a variety of programs to help veterans. One of the key plans it oversees is the VA loan program, which allows most veterans to purchase a house without a down payment.
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