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.
Mortgage Terminology
It is extremely important to have a basic understanding of today’s mortgage terminology. When you understand the fundamentals, you will be better prepared to make informed decisions in connection with your mortgage. Use the menu below to navigate alphabetically to the term you are looking for.
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.
