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VA guarantee |
An insurance contract for which the Veterans
Administration (VA) guarantees the lender's recovery of a designated percentage
of the loan amount from the insurer in the event that the borrower defaults on
the loan |
|
VA loan, or Government
mortgage |
A mortgage loan available to qualified military
veterans which is guaranteed by the Department of Veteran Affairs, usually
offering either no down payment or a low down payment |
|
Valuation |
The estimated of value of a
property |
|
Variable rate mortgage, or Adjusted rate
mortgage |
A mortgage with interest rates that may
fluctuate based on market conditions |
|
Verification of Deposit |
A statement signed by the borrower's financial
institution that verifies the current balances in the borrower's
accounts |
|
Verification of
Employment |
A statement signed by the borrower's employer
that verifies the borrower's current position and salary |
|
Vest |
To pass an immediate right on to a
person |
|
Vested |
Having the right to withdraw a percentage of a
fund before its agreed-upon maturity date; e.g., the percentage vested to
individuals with retirement funds differs; if someone is 80% vested, that means
they can only withdraw 80% of the funds set aside for them until its
maturity |
|
Department of Veterans Affairs
(VA) |
A federal agency that insures residential
mortgages made to eligible military veterans, which thereby encourages loans
being made to veterans |
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Did We Miss the Word YOU Are Looking For? Is there a real estate word that we failed to explain here in our dictionary for homebuyers and sellers? Let us be your personal real estate dictionary! We'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let us know! We always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let us know! We're happy to answer ANY questions. It's our job! There's no obligation, and we promise to get back to you quickly...
| Q |
What information does nearly every state in America require the seller of a home to reveal to the buyer?
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| A |
Most states require disclosure of any existing problems or conditions that could affect the value of the house. |
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Andy Hodes & The Scenic City Team
Keller Williams Realty
1200 Premier Dr., Suite 140
Chattanooga, TN 37421
423-664-1822
Fax: 423-664-1820
andy@andyhodes.com
Thank you for visiting my website and I hope you enjoy learning about what Chattanooga has to offer. It is one of the most beautiful cities in the Southeast. I am licensed in both Tennessee and Georgia. Please feel free to contact my team at anytime, we are here to assist you in your specific needs. I grew up in Chattanooga and moved away after college. When I married my wife, we decided to move back to Chattanooga to raise our family.
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