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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 |
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| Q |
What famous American sign was originally erected as a real estate ad?
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| A |
The Hollywood sign, built in 1923, was conceived as a real estate ad that originally read, "Hollywoodland." |
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The Kite Team
Keller Williams Premier Realty
410 Peterson Rd.
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Phone: 847-877-9881
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Founder of the Kite Team of Keller Williams, Amy Kite specializes in the real estate needs of first-time home buyers, retirees, seniors and military personnel. Areas of expertise include foreclosure prevention, short-sales, new construction, and investment property. For the past three years, Amy has netted 98.7% for her clients of their asking price. For 2007, Amy has netted 99.5% for her sellers of their asking price and her buyers have paid on average 92% of the asking price. Amy Kite is a Top Expert in Lake County area real estate. Amy holds designations in the following: CRS, ABR, e-Pro, SRES, CNHS (Certified New Home Specialist), and CDPE (Certified Distressed Property Expert).         
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