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VA
Mortgage
A government-guaranteed mortgage that is supported
by the U.S. Department of Veterans Affairs (VA).
Variable Rate Mortgage
Refer to Adjustable Rate Mortgage (ARM).
Vested
The right to use a portion of a fund. For example,
an individual's retirement fund. Those who are 100%
vested can withdraw all of the funds that are set
aside in a retirement fund for them. However, taxes
may be due on any funds that are withdrawn.
Veterans Administration (VA)
A federal government agency that guarantees
residential loans made to eligible veterans of the
military services. The guarantee protects the lender
against loss, therefore, encouraging banks to loan
to veterans. |
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