Investment Glossary:

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V

V.A. Loan:  Home loan guaranteed by the U.S. Veterans Administration under the Servicemen's Readjustment Act of 1944 and later to compensate lender in the event of default.

Valuation:  The estimated worth or price. The act of valuation by appraisal.

Variable Interest Rate:  Amount of compensation to a lender that is allowed to vary over the maturity of a loan, typically governed by an appropriate index.

Variable Rate Mortgage:  Long-term mortgage loan applied to residences, under which the interest rate may be adjusted on a six month basis over the term of the loan, according to certain restrictions.

Vendee:  A buyer of real estate.

Vendee's Lien:  A lien against property under a contract of sale to secure the deposit paid by the purchaser.

Vendor:  A seller of real estate.

Veneer:  Wood or brick exterior that covers a less attractive and less expensive surface.

Vested interest:  A fixed right to the enjoyment of real estate by a specified person, subject to the termination of a previous estate.