Protecting Pennsylvania Property Since 1984
V
| Variable interest rate (also called a “flexible interest rate”) - An interest rate that fluctuates as the prevailing rate moves up or down. In mortgages, there are usually maximums as to the frequency and amount of fluctuation. |
Vendee - Buyer. |
Vendor - Seller. |
Vest - To give an immediate, fixed right of present or future enjoyment in land. |
Veterans Administration (VA) loans - Housing loans to veterans by banks, savings and loans, or other lenders that are guaranteed by the Veterans Administration, enabling veterans to buy a residence with little or no down payment. |
