| 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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