· Variable
rate An interest rate that changes with
fluctuations in such indexes as the U.S. Treasury bill
index.
· Vaulted
ceiling An elongated half-cylinder that arches
above the floor.
· Verification
of deposit Part of the loan process, in which a
lender will ask a borrower's bank to sign a statement
verifying the borrower's account balances and history.
· Verification
of employment Part of the loan process, in
which a lender asks the borrower's employer for
confirmation of the borrower's position and salary.
· Vestibule A
small entrance hall or room.
· Veterans
Administration (VA) The U.S. Department of
Veterans Affairs operates a variety of programs to help
veterans. One of the key plans it oversees is the VA
loan program, which allows most veterans to purchase a
house without a down payment.
· Victorian
style An architectural style that dates from
the mid-19th century.
· Vinyl-clad
windows Wood windows sheathed in vinyl on the
outside.
· Voluntary
lien A lien that a homeowner willingly gives to
a lender.
· VA
loans A program that allows most veterans to
purchase a house without a down payment.
· Variable
interest rate A loan rate that moves up and
down based on factors including changes in the rate paid
on bank certificates of deposit or Treasury bills.
· Variable
rate mortgage A loan with an interest rate that
hinges on factors such as the rate paid on bank
certificates and Treasury bills.
