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Anita Kay |
Buyer Tips | Seller Tips | General Tips Real Estate Terms
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 Copyright © 2000-2003 by Anita Kay, Vista Real Estate,
St. George, Your Southern Utah Real Estate Agent |
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