A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

V

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

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Real Estate Tips About Appraisals >Three Caballeros When you buy a house or refinance your present home, your lender will ask you to pay for an appraisal to help ensure that the sales price and mortgage amount is consistent with the property's market value. The appraiser will look for "three caballeros" or three "comparables" -- homes that are very similar to the one you are buying -- and will make adjustments to reflect the differences between the properties. Housing patterns tend to be homogenous, meaning that homes worth $300,000 are usually located in $300,000 neighborhoods. It is important for properties to be within the general pricing patterns of their neighborhoods because over-valued homes, even if they are exceptional, are sometimes difficult to sell at full market price. This is not the only factor considered in determining the worth of a property, but it is an important one. The buyer or seller may view the property as a home or an investment, but lenders view it in a completely different way. To a lender, property means security in the event a borrower fails to repay a mortgage. Therefore, lenders must know real estate values in order to limit their risks. See All Tips In The "About Appraisals" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories > Real Estate Trivia Q  What has a tremendous impact on the U.S. economy, comprising between $10-$15 trillion of the nation's wealth? A  Real Estate--it goes through cycles, but still has a long-term record of strong investment return. See More Real Estate Trivia >

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Debbie Cobian and Laura Rodriguez Keefe Real Estate, Inc 751 Geneva Parkway Lake Geneva WI, 53147 Office: 262-248-4492 262-248-9539 Laura's Cell: 262-325-7311 Debbie's Cell: 262-949-9818 Email: LauraandDebbie@NUMBER1EXPERT.com Email: YourLakeGenevaTeam@yahoo.com Laura Rodriguez and Debbie Cobian are Top Producing Brokers in the Lake Geneva area. Buyers and Sellers rate their service the best! With the team concept, you get two licensed professionals to help with all your real estate needs. Add Keefe Real Estate Inc, #1 in Sales in Walworth County and a family company since 1943, for a perfect partnership. For the experience and progressive service you deserve, contact Laura or Debbie today! www.YourLakeGenevaTeam.com is brought to you by Debbie Cobian and Laura Rodriguez, real estate for Lake Geneva, Walworth County and Southeast Wisconsin, Wisconsin Read Debbie Cobian and Laura Rodriguez's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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