VA MORTGAGE:A mortgage that is guaranteed by the Department of Veterans Affairs (VA).
VACANCY RATE:The current percentage of vacant properties in a given area, regardless of why they are vacant.
Variable Interest Rate::An interest rate that fluctuates with the current cost of money; subject to adjustment if the prevailing rate moves up or down.
VARIANCE:An exception to municipal zoning regulations granted for a specific time period to allow for non-conforming use of the land.
Vendee::See Agreement of Sale.
Vendor's Lien::An implied lien given by law to a vendor for the remaining unpaid and unsecured part of a purchase price.
Vendor::See Agreement of Sale.
VENT PIPE:A pipe allowing gas to escape.
Venue::Neighborhood; often used to refer to the county or place in which an acknowledgment is made before a notary; also refers to the county in which a lawsuit may be filed or tried.
VESTED:Having the right to use a portion of a fund such as an IRA. Typically vesting occurs over time. If you are 100% vested, you have a right to 100% of the fund.
Vesting::The names, status and manner in which title of ownership is held with a fixed or determinable interest in a particular parcel of real property; also that portion of a title report or policy setting forth the above.
VETERANS AFFAIRS, DEPARTMENT OF (VA):The successor to the Veteran's Administration, this government agency is responsible for ensuring the rights and welfare of our nation's veterans and their dependents. Among other duties, the VA insures home loans made to veterans.
VOLTAGE:An expression of electric force, or pressure. One volt being the force needed to move one amp against one ohm resistance.
