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"Leigh Hill is a professional in every sense of the word. Her attention to detail
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Welcome > Resources > Real Estate Dictionary - A
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VA guarantee |
An insurance contract for which the Veterans
Administration (VA) guarantees the lender's recovery of a designated percentage
of the loan amount from the insurer in the event that the borrower defaults on
the loan |
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VA loan, or Government
mortgage |
A mortgage loan available to qualified military
veterans which is guaranteed by the Department of Veteran Affairs, usually
offering either no down payment or a low down payment |
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Valuation |
The estimated of value of a
property |
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Variable rate mortgage, or Adjusted rate
mortgage |
A mortgage with interest rates that may
fluctuate based on market conditions |
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Verification of Deposit |
A statement signed by the borrower's financial
institution that verifies the current balances in the borrower's
accounts |
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Verification of
Employment |
A statement signed by the borrower's employer
that verifies the borrower's current position and salary |
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Vest |
To pass an immediate right on to a
person |
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Vested |
Having the right to withdraw a percentage of a
fund before its agreed-upon maturity date; e.g., the percentage vested to
individuals with retirement funds differs; if someone is 80% vested, that means
they can only withdraw 80% of the funds set aside for them until its
maturity |
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Department of Veterans Affairs
(VA) |
A federal agency that insures residential
mortgages made to eligible military veterans, which thereby encourages loans
being made to veterans |
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Did we Miss the Word YOU Are Looking For? Is there a real estate word that we failed to explain here in our dictionary for homebuyers and sellers? Let us be your personal real estate dictionary! we will send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let us know! we always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let us know! we are happy to answer ANY questions. It's our job! There's no obligation, and Leigh and Maria promise to get back to you quickly...
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Leigh Hill and Maria Dudley
Weichert Realtors
142 Main Street
Chester
New Jersey 07930
Leigh Hill's Cell : 908-256-2364
Maria Dudley's Cell: 201-274-5273
E-Fax : 1-888-859-0247
E-Mail: leighHill@aol.com
The Leigh Hill Team is dedicated to providing the best possible professional service in the real estate industry for the past 30 years. Leigh, A NJ MILLION DOLLAR GOLD CLUB Award winner for 7 years, Leigh Hill's priorities include a high degree of quality-executed sales for her and Maria's clients. Leigh and Maria are responsible for some of the most prestigious residential developments,and single family homes in Morris and Somerset County. Their knowledge, honesty and commitment to results are the foremost reasons for their continued success. Contact "The Leigh Hill Team" for all of your real estate needs in Northwest New Jersey.
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