Real Estate Glossary
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VA loans - A program that allows most veterans to purchase a house without a down payment.
Variable interest rate - A loan rate that moves up and down based on factors including changes in the rate paid on bank certificates of deposit or Treasury bills.
Variable rate mortgage - A loan with an interest rate that hinges on factors such as the rate paid on bank certificates and Treasury bills.
Variable rate - An interest rate that changes with fluctuations in such indexes as the U.S. Treasury bill index.
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.
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 salary.
Vestibule - A small entrance hall or room.
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.
Victorian style - An architectural style that dates from the mid-19th century.
Vinyl-clad windows - Wood windows sheathed in vinyl on the outside.
