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.
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.
Vendee
A purchaser or
buyer
Vendor
A seller or one who
transfers property by sale.
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.
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