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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 |
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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 |
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Valuation |
The estimated of value of a
property |
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Variable rate mortgage, or Adjusted rate
mortgage |
A mortgage with interest rates that may
fluctuate based on market conditions |
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Verification of Deposit |
A statement signed by the borrower's financial
institution that verifies the current balances in the borrower's
accounts |
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Verification of
Employment |
A statement signed by the borrower's employer
that verifies the borrower's current position and salary |
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Vest |
To pass an immediate right on to a
person |
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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 |
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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. Fill out the form below for a quick response from me by email. It's free, without obligation, and I guarantee your privacy.
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Mark Riggle RE/MAX Irish Hills 14589 W. US 223 Manitou Beach, MI. 49253 (517) 467-3003 (517) 206-4474 Fax: (517) 467-3006 Email: MarkRiggle@NUMBER1EXPERT.com
I have lived in Southeast Michigan and Northwest Ohio all my life. I have
been a licensed REALTOR since 1978 and have worked in the industry full time
since 1995. The areas surrounding the Irish Hills are among the most
beautiful anywhere, and my love for the lakes and farms is best illustrated
through my business. I have been the number one agent in my company since
1996, and am the top agent in lakefront sales in both Jackson and Lenawee
Counties.* I am involved with my clients personally and am always thrilled
to be part of the realization of their dreams. My dream is to help people
and I believe that dreams are chain reactions, so I put my success to work
in my community. With every one of my transactions, I support Children's
Miracle Network in Southern Michigan. This year I also worked to raise money
for the Komen Race for the Cure to help fund breast cancer research.
Additionally, I work with my church to raise money for our sister church in
Uganda, Africa. I look forward to doing business with you - and for you. 


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All rights reserved. All information deemed reliable but not guaranteed.
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