REAL ESTATE GLOSSARY
V
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.
