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Term Definition
VA GuaranteeAn insurance contract in which the Veterans Administration (VA) insures that the named lender will recover a specific percentage of the loan amount from the insurer in the event the loan goes bad.
 
Variable Interest RateAn interest rate that fluctuates with the current cost of money; subject to adjustment if the prevailing rate moves up or down.
 
VendeePurchaser or buyer, especially on a land contract.
 
VendorThe person who transfers property by sale. Another word for "seller".
 
Vendor's LienA lien either express or implied given to a vendor for the remaining unpaid and unsecured part of a purchase price.
 
VenueUsed to refer to the county or place in which an acknowledgment is made before a notary; also refers to the county in which a lawsuit may be filed or tried.
 
VestedPresent ownership rights, absolute and fixed. 
 


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