Mecklenburg County Charlotte Real Estate - North Carolina Homes, Condominiums, Real Estate... in Mecklenburg County Charlotte, NC

Real Estate Glossary / Terms

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

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.

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