Real Estate Glossary: Terms starting with letter 'V'
B | C |
D | E |
F | G |
H | I |
J | K |
L | M |
N | O
| P |
Q | R |
S | T |
U | V
| W |
X | Y |
VA mortgage: A mortgage that is guaranteed by the Department of Veterans
Affairs (VA). Also known as a government mortgage.
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may be due on any funds that are actually withdrawn.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, Dept. 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.