Glossary

VA MORTGAGE: A type of mortgage that is guaranteed by the Department of Veterans Affairs (VA).

VARIANCE: An exception to municipal zoning regulations granted for a specific time period to allow for non-conforming use of the land. Oftentimes, if a building is damages by natural causes or fire, the non-conforming use may no longer be valid.

VESTED: Having the right to use a portion of a fund such as an IRA or Pension Fund. Usually vesting occurs over time. If become fully vested, you have a right to 100% of the fund.

VETERANS AFFAIRS, DEPARTMENT OF (VA): The VA (Veterans Administration) insures home loans made to veterans. The Veteran's Administration is a government agency which is responsible for ensuring the rights and welfare of our nation's veterans and their dependents.

VOLTAGE: One volt is the force needed to move one amp against one ohm of resistance. This is an expression of electric force, or pressure.