Mortgage and Real Estate Terms Sorted Alphabetically:
V – VA (Department of Veterans Affairs) Mortgage,
vacancy rate, VA funding fee…more
VA (DEPARTMENT OF VETERANS AFFAIRS) MORTGAGE - government
insured loans guaranteed by the Department of Veterans
Affairs, requiring very low or no down payments and
with generous requirements for qualification. They
are available only to veterans of the armed services,
those currently on active duty or in the reserves,
and their spouses.
VACANCY RATE - the ratio between the number of vacant
units and the total number of units in a multi-tenant
building or development. Often the vacancy rate can
affect whether the property is considered “warrantable”
or not. ForTheBestRate.com works with a number of investors that
offer low
mortgage rate solutions for both warrantable and
non-warrantable properties.
VA FUNDING FEE - a fee the VA charges to guarantee
a residential real estate mortgage loan
VA LOAN - mortgage loan made by an approved lender
and guaranteed by the Department of Veterans Affairs.
VA loans are made to eligible veterans and those currently
serving in the military and may have a lower down
payment than other type loans. However, today, there
are limited 97%-100%
mortgage loan financing alternatives without having
to go through VA or FHA sources.
VALUATION - the estimation of a property's price
through appraisal.
VERIFICATION OF DEPOSIT (VOD) - a form that requests
and secures verifications of amount on deposit at
financial institutions.
VERIFICATION OF EMPLOYMENT (VOE) - a form that requests
and secures documentation of a mortgage applicant's
work history and/or occupation, to assist in the lender's
credit investigation.
VESTED INTEREST - a legal claim or right to the present
or future enjoyment of real property.
Mortgage Glossary - Mortgage and Real Estate Terms Sorted Alphabetically:
Mortgage
Glossary
A
- adjustable rate mortgage, adjustment interval, amortization,
annual percentage rate (APR) - more
B
- balloon mortgage, bankruptcy, basis point, beneficiary
- more
C
- caps, cash flow, cash out (second mortgage), cash
out refinance - more
D
- debt consolidation, debt service, debt reduction
plan, debt-to-income ratio - more
E
- earned and unearned income, earnest money, easement,
economic life - more
F
- Fair Credit Reporting Act, fair market value, Fannie
Mae - more
G
- good faith estimate, grace period, gradual payment
mortgage (GPM), grantee - more
H
- home equity, home improvement loan, Home Mortgage
Disclosure Act (HMDA) - more
I
- index, in file credit report, inflation, initial
interest rate, ingress and egress - more
L
- lender buy-down mortgage, liability insurance, LIBOR,
loan application - more
M
- manufactured home, market value, maximum loan amount,
mechanic's liens - more
N
- negative amortized (Neg/AM), Neg AM Loans, negative
cash flow, net worth - more
O
- obsolescence, off-site improvements, on-site improvements,
ordinary income - more
P
- par, partial payment, partnership, party wall, payment
shock - more
Q
- quality control, quit claim deed, quote - more
R
- rate shopper, real property, real estate loans,
reconciliation - more
S
- sales contract, satisfaction or mortgage, seasoned
mortgage, second mortgage - more
T
- tax lien, tenancy in common, tenant, term, title,
title insurance - more
U
- underwriting, unencumbered property, uniform commercial
code (UCC)ï -more
V
- VA (Department of Veterans Affairs) Mortgage, vacancy
rate, VA funding fee - more
