VA mortgage
A mortgage that is guaranteed by
the Department of Veterans Affairs (VA). |
vested
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funds that are actually withdrawn.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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Veterans Administration (VA)
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. |
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