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| A mortgage that is guaranteed by the Department of Veterans Affairs (VA).
Also known as a government mortgage. |
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| An interest rate that changes periodically in relation to an index. Payments
may increase or decrease per the terms of the loan agreement or note. |
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| Having the right to use a portion of a fund such as an individual retirement
fund. For example, individuals who are 100 percent vested can withdraw all
of the funds that are set aside for them in a retirement fund. However,
taxes may be due on any funds that are actually withdrawn. |
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| An agency of the federal government that guarantees residential mortgages
made to eligible veterans of the military services. The guarantee protects
the lender against loss and thus encourages lenders to make mortgages to
veterans. |
