Glossary

VA

The U.S. Veterans Administration.

VA loan

A loan that is sponsored by the Veterans Administration Program (VA) that ensures a veteran

Variable Rate Mortgage

A mortgage whose rate is not fixed, but changes over time according to a preset formula. Also known as Adjustable Rate Mortgage.

Vest

The passing of a right or other interest from one party to another.

Vestee

A term used to describe the owner of real property.