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Frequently
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Glossary
of Real Estate Terms
Glossary for "V"
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.
Vaulted
ceiling
An elongated half-cylinder that arches above the floor.
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.
Voluntary
lien
A lien that a homeowner willingly gives to a lender.
VA
loans
A program that allows most veterans to purchase a house without
a down payment.
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