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.
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.
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.
