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0-9 | MORTGAGE LOAN TERMS
MORTGAGE LOAN COLLECTION
V
- VA
- See Department of Veterans Affairs (VA)
- VA Mortgage
- Mortgage loan offered by various lenders that the Department of Veterans Affairs guarantees for qualified borrowers. A feature of these loan programs is typically a lower required down payment for the purchase of a primary residence.
RELATED MORTGAGE TERMS: Certificate of Eligibility|Certificate of Veteran Status
MORTGAGE LOAN EXAMPLES: VA Mortgage Loan
- VA Mortgage Funding Fee
- Charge that may be added to the closing costs of a VA mortgage loan.
RELATED MORTGAGE TERMS: VA Mortgage
- Variable Rate Mortgage (VRM)
- See Adjustable Rate Mortgage (ARM)
- Verification of Deposit (VOD)
- Document used by a mortgage bank or lender to verify financial account balances for a loan applicant.
MORTGAGE LOAN EXAMPLES: Verification of Deposit (VOD)
- Verification of Employment (VOE)
- Document used by a mortgage bank or lender to verify the employment that a mortgage loan applicant has provided.
MORTGAGE LOAN EXAMPLES: Verification of Employment (VOE)
- Verification of Rent (VOR)
- Document sent to the landlord for the residence of a mortgage loan applicant as an alternative to providing a monthly mortgage statement to fulfill their documentation requirement.
RELATED MORTGAGE TERMS: Documentation Requirements
MORTGAGE LOAN EXAMPLES: Verification of Rent (VOR)
- Verified Assets
- In regard to mortgage bank or lender documentation requirements, a mortgage loan applicant discloses assets and their source for the loan provider to then verify.
- Vest
- Legal delegation of an asset from one individual to another without giving up immediate possession of that asset.
MORTGAGE LOAN COLLECTION
MORTGAGE LOAN TERMS | 0-9
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MORTGAGE LOAN GLOSSARY
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MORTGAGE LOAN COLLECTION
