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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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Did We Miss the Word YOU Are Looking For? Is there a real estate word that we failed to explain here in our dictionary for homebuyers and sellers? Let us be your personal real estate dictionary! We'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let us know! We always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let us know! We're happy to answer ANY questions. It's our job! There's no obligation, and we promise to get back to you quickly...
| Q |
What famous American monument is also the world's heaviest statue?
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| A |
The Statue of Liberty, officially named "Liberty Lighting the World", weighs 54.31 million pounds. |
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Covington Real Estate Team
Covington Real Estate
2324 N. Main St.
Belton, TX. 76513
254 939-3800
877 711-3800
Fax: 254 939-3232
Email: covington@number1expert.com
Terri Covington, owner, established Covington Real Estate in 2003 after being a top producer for a franchise office for several years. Realtors affiliated with Covington are involved in the local community, including chambers of commerce, school district committees, local government, churches, and universities. Many of the agents serve in leadership with the Temple-Belton Board of REALTORS and the Texas Association of REALTORS.
Terri shares, "God has blessed me with a wonderful organization of highly ethical and hard working REALTORS. We are like family and work together to get results for our clients."
Being an independent office has afforded Covington clients flexibility in marketing and buying strategies.
"We try to stay fresh in our marketing ideas and up to date with our education and negotiating skills." commented owner, Terri Covington.   
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