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VA guarantee |
An insurance contract for which the Veterans
Administration (VA) guarantees the lender's recovery of a designated percentage
of the loan amount from the insurer in the event that the borrower defaults on
the loan |
|
VA loan, or Government
mortgage |
A mortgage loan available to qualified military
veterans which is guaranteed by the Department of Veteran Affairs, usually
offering either no down payment or a low down payment |
|
Valuation |
The estimated of value of a
property |
|
Variable rate mortgage, or Adjusted rate
mortgage |
A mortgage with interest rates that may
fluctuate based on market conditions |
|
Verification of Deposit |
A statement signed by the borrower's financial
institution that verifies the current balances in the borrower's
accounts |
|
Verification of
Employment |
A statement signed by the borrower's employer
that verifies the borrower's current position and salary |
|
Vest |
To pass an immediate right on to a
person |
|
Vested |
Having the right to withdraw a percentage of a
fund before its agreed-upon maturity date; e.g., the percentage vested to
individuals with retirement funds differs; if someone is 80% vested, that means
they can only withdraw 80% of the funds set aside for them until its
maturity |
|
Department of Veterans Affairs
(VA) |
A federal agency that insures residential
mortgages made to eligible military veterans, which thereby encourages loans
being made to veterans |
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Did I Miss the Word YOU Are Looking For? Is there a real estate word that I failed to explain here in my dictionary for homebuyers and sellers? Let me be your personal real estate dictionary! I'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let me know! I always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let me know! I'm happy to answer ANY questions. It's my job! There's no obligation, and I promise to get back to you quickly...
| Q |
Which city in the U.S. has the longest formal name, but the shortest abbreviated name?
|
| A |
El Pueblo de Nuestra Senora la Reina de los Angeles de la Porciuncula is the full name for Los Angeles, known as "LA". |
 See More Real Estate Trivia > |
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Julie Corbo
Broker / Associate
Keller Williams Realty
NJ Metro Group
Montclair, NJ 07042
Office: (973) 783-7400
Cell: (973) 650-6189
Fax: (973) 509-0918
juliecorbo@NUMBER1EXPERT.Com
julie@juliecorbo.com
As a realtor, I am a consistent high-producing, service-oriented, full-time professional, passionate and focused in the details of all my transactions.
Having lived in the Montclair area for over 20 years, I have the expertise in guiding BUYERS through each community and matching their lifestyles where they best fit.
For SELLERS, my negotiating skills, sharpened and refined by 20 years of global travel and international media sales - negotiating agreements in a multi-cultural environment - makes me an ideal Listing Agent assisting my Sellers to create an environment to bring in the most buyers, manage multiple offers, negotiate the highest price, and similarly, take each transaction smoothly to the closing table.    
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