Real Estate Words – V

VA: An acronym for the U.S. Department of Veterans Affairs, an agency of the federal government that administers a variety of benefits and services providing financial and other forms of assistance to members of the military, veterans, their dependents and survivors.
VA Loan: A loan partially insured by the VA and provided by a private lender.
VA Loan Guarantee: A guarantee for a loan made by the VA.
VA Funding Fee: A fee to the VA charged upon closing to the buyer, customarily 1% of the loan amount, unless otherwise financed.
VRM: See ARM
Vacate Date: The date by which the selling party finally relinquishes responsibility of a property and ultimately leaves the property, turning it over to the third-party company through a buyout.
Virtual Tour: An electronic viewing of the property through videos, pictures or interactive digital representation.
VOWs: an acronym for Virtual Office Websites, which are online real-estate brokerage businesses that serve the same function as traditional brick-and-mortar firms.