VA mortgage
A mortgage that is guaranteed by the Department of Veterans Affairs (VA).
variance
An exception to municipal zoning regulations granted for a specific time period to allow for non-conforming use of the land.
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.
Veterans Administration (VA)
An agency of the federal government that guarantees residential mortgages made to eligible veterans of the military services. The guarantee protects the lender against loss and thus encourages lenders to make mortgages to veterans.
walk-through inspection
A process whereby an appraiser examines a property in preparation for estimating its value. Also, the process of inspecting a property for any damage prior to that property being bought or sold.
