VA Loans
A loan, made by a private lender, that is partially guaranteed by the Veterans Administration.
Variable Rate
Interest rate that changes periodically in relation to an index.
Variable Rate Mortgage
See Adjustable Rate Mortgage
Verification of Deposit (VOD)
Document signed by the borrower’s bank or other financial institution verifying the borrower’s account balance and history.
Verification of Employment (VOE)
Document signed by the borrower’s employer verifying the borrower’s position and salary.