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Real Estate Dictionary

Welcome > Resources > Real Estate Dictionary - A

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

V

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

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

Valuation

The estimated of value of a property

Variable rate mortgage, or Adjusted rate mortgage

A mortgage with interest rates that may fluctuate based on market conditions

Verification of Deposit

A statement signed by the borrower's financial institution that verifies the current balances in the borrower's accounts

Verification of Employment

A statement signed by the borrower's employer that verifies the borrower's current position and salary

Vest

To pass an immediate right on to a person

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

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

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

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Real Estate Tips

Financing Your Home >Mortgage Fears

It is not unusual for home buyers to feel that the lender is being very critical during the loan approval process. The buyer is required to provide all kinds of financial information, and then the lender asks for more. If this is your experience, and the process seems discouraging, remember that none of this is personal!

Some lenders have more stringent requirements than others, but every lender requires a substantial amount of documentation on a mortgage loan. They must verify employment, credit history, and recent financial transactions involving your liquid assets. If your Visa payment was late, they may ask for a letter explaining why. If you are self-employed, they will ask for tax returns from at least three years and probably a year-to-date profit and loss statement.

Government regulations require mortgage companies to document everything. And while the loan officer may know that you are a reliable risk, the underwriters must be able to defend the loan to a federal bank examiner or auditor.

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Real Estate Trivia

Q	What was the world's highest viewing platform before the opening of the Empire State Building in 1939?
A	The Eiffel Tower, built between 1887-1889, was for 42 years the highest viewing platform in a man-made structure.
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Sharon Jagoda Sigman, REALTORŽ, real estate agent and broker for Kansas City, Overland Park, Prairie Village, Lenexa, Mission Hills, Liberty and Leawood, Kansas home listings, property and land for sale - NUMBER1EXPERT

Sharon Jagoda Sigman
WEICHERT, REALTORSŽ - Graham Welch
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home office: 913-381-6794
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email: sharon@kchomes.net
As a native to Kansas and a former area high school English teacher in the Shawnee Mission school district, I am able to give buyers extra assistance and information on schools and the city. My license plate "REALTOR" lets everyone know my profession. My customers find that I am easy to work with and an excellent negotiator. My slogan "choose this LEFT handed realtor to help you make the RIGHT move" expresses my desire to help my buyers find the right home or my sellers to find the right buyer for the best price and terms. I have had my brokers/realtors licenses for over 25 years and have consistently been one of the top 5 realtors in the city on both the Kansas and Missouri sides. I hold various designations and degrees: CRS (certified real estate specialist..only 5% of Realtors belong), Number1 Expert with top DIAMOND designation, ABR (accredited buyers agent), SRES(senior citizen representative), CSP (certified new sales consultant-to build) and e-PRO. My education consists of BA and Masters from University of California at Berkeley. I have 3 daughters, 1 dog and 1 cat. My recently licensed Schipperke, Skipper, was rescued by me from a local animal shelter so he helps me find some DOG GONE good homes for my clients! I belong to various organizations like Friends of Art, Friends of the Zoo, Native Sons of Kansas City, Hadassah, Brandeis, local and national realtor organizations. My hobbies are art, traveling, reading, paintin, working out, and horse back riding. My other web sites are www.GreaterKansasCityHomes.com www.GreaterKansasCityHomesAndLand.com www.KCHomes.net www.sharonsigman.com www.realestateinoverlandpark.com www.isellkansashomes. con www.homesinkansascity.com. I have a toll free 800 number ( 800-291-1302 )that follows me. Facebook me www.facebook.com/sharon.sigman Sharon Sigman 913-488-8300 Sharon@HomesInKansasCity.com

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