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VA mortgage
A mortgage that is guaranteed
by the Department of Veterans Affairs
(VA).
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are actually withdrawn.
Veterans Administration (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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Equal Housing
Opportunity. Equal Opportunity Employer.