Glossary of Terms

# 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

VA Loan

A long-term, low- or no-down payment loan guaranteed by the Department of Veterans Affairs. Restricted to individuals qualified by military service or other entitlements.

Variable Rate Mortgage (VRM)

see adjustable rate mortgage

Verification of Deposit (VOD)

A document signed by the borrower’s financial institution verifying the status and balance of his/her financial accounts.

Verification of Employment (VOE)

A document signed by the borrower’s employer verifying his/her position and salary.





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