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| RE/MAX
Valley Real Estate
Phone: (330) 629 - 9200 |
| - Department of Veterans Affairs (VA)
- The is an agency of the federal government that guarantees residential mortgages made to eligible veterans of the military services. The guarantee protects the lender against loss and thus encourages lenders to make mortgages to veterans.
- VA mortgage
- A mortgage loan in the United States guaranteed by the Veterans Administration. The loan may be issued by qualified lenders. The VA loan was designed to offer long-term financing to American veterans or their surviving spouses (provided they do not remarry).
- The VA loan allows veterans 100% financing without private mortgage insurance or 20% second mortgage. A VA funding fee of 0 to 3.3% of the loan amount is paid to the VA and is allowed to be financed. In a purchase, veterans may borrow up to 100% of the sales price or reasonable value of the home, whichever is less. In a refinance, veterans may borrow up to 90% of reasonable value, where allowed by state laws.
- valuation
- In moving, valuation is known as the total worth of your shipment. The charge covers movers from greater liabilities than provided in basic transportation services.
- variance
- Permission obtained from zoning authorities to build a structure or conduct a use that is expressly prohibited by the current zoning laws; an exception from zoning ordinances.
- vendee
- In Ohio, the buyer of real property in a Land Installment Contract is known as the 'Vendee.'
- See ► Land Contract.
- vendor
- In Ohio, the seller or conveyer of real property in a Land Installment Contract is known as the 'Vendor.'
- See ► Land Contract.
- vested
- Having the right to use a portion of a fund such as an individual retirement fund. For example, individuals who are 100 percent vested can withdraw all of the funds that are set aside for them in a retirement fund. However, taxes may be due on any funds that are actually withdrawn.
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