VA (Department of Veterans Affairs)

A federal agency, which guarantees loans made to veterans; similar to mortgage insurance, a loan guarantee protects lenders against loss that may result from a borrower default.

VA Mortgage

A mortgage guaranteed by the department of veterans affairs (va).

Variable Expenses

Costs or payments that may vary from month to month, for example, gasoline or food.

Variance

A special exemption of a zoning law to allow the property to be used in a manner different from an existing law.

Vested

A point in time when you may withdraw funds from an investment account, such as a retirement account, without penalty.

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