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- 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.
Answer's to your questions or
concerns,
Call 248 684-9000 or
E-Mail us for further assistance
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Michigan Real Estate Today™
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