VA mortgage
A mortgage that is guaranteed by the Department of Veterans Affairs
(VA). Also known as a government mortgage.
vested
Having the right to use a portion of a fund such as an individual
retirement fund. For example, individuals who are 100 percent vested
can withdraw all of the funds that are set aside for them in a retirement
fund. However, taxes may be due on any funds that are actually withdrawn.
Department of Veterans
Affairs (VA)
An agency of the federal government that guarantees residential
mortgages made to eligible veterans of the military services. The
guarantee protects the lender against loss and thus encourages lenders
to make mortgages to veterans.
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