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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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Scott Gerami - Broker/Owner -ABR, GRI, e-Pro, CSC Real Time Realty, LLC. 424 Fort Hill Drive, Suite 134 Naperville, IL. 60540 Toll Free:: 800-297-9772 Direct:: 630-357-4800 Cell Phone:: 630-670-5802 Fax:: 630-206-0386 Email: Scott@NaperHomes.com
Since 1986, I have served the housing needs of individuals and families in
the Western Suburbs. As a resident of the Naperville area, one of the
fastest growing areas in the United states, I have become aware of the many
housing opportunities available for the first time buyer to the empty
nester. I am involved in many community organizations throughout the
Western Suburbs. and have become a familiar face to many of the builders and
financial lending institutions in the area.
www.naperhomes.com is brought to you by
Scott Gerami NUMBER1EXPERT™ in real estate for
Naperville, Plainfield and Oswego, Illinois, relocation,residential
- NUMBER1EXPERT™ 
