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Dictionary

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VA Mortgage
A mortgage that is guaranteed by the Department of Veterans Affairs (VA) and allows most veterans to purchase a house without a down payment.

Variable Interest Rate
A loan rate that fluctuates based on factors such as the current cost of money or changes in the rate paid on bank certificates of deposit or Treasury bills.

Vested
Ownership rights, absolute and fixed, to use a portion of a fund such as an individual retirement fund.