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Real Estate Glossary
To view a real estate term, click on one of the letters below.
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V
VA Mortgage - A mortgage that is guaranteed by the Department of Veterans
Affairs (VA). Also known as a government mortgage.
Variable Rate - An interest rate that changes periodically in relation to an
index. Payments may increase or decrease per the terms of the loan agreement or
note.
Vested - Having the right to use a portion of a fund such as an individual
retirement fund. For example, individuals who are 100 percent vested can
withdraw all of the funds that are set aside for them in a retirement fund.
However, taxes may be due on any funds that are actually withdrawn.
Veterans Affairs, Department of (VA) - An agency of the federal government that
guarantees residential mortgages made to eligible veterans of the military
services. The guarantee protects the lender against loss and thus encourages
lenders to make mortgages to veterans.
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