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VA
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Department of Veterans Affairs: a federal agency which guarantees loans made to veterans; similar to mortgage insurance, a loan guarantee protects lenders against loss that may result from a borrower default.
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VA (Veterans Administration)
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The Veterans Administration assists veterans with purchasing a home without a down payment.
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VA loan
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A loan through the Veterans Administration program, which allows most veterans to purchase a house without a down payment.
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Vacancy factor
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The amount of gross revenue that pro forma income statements anticipate will be lost because of vacancies, often expressed as a percentage of the total rentable square footage available in a building or project
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Vacancy rate
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The total amount of available space compared to the total inventory of space and expressed as a percentage
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Vacant space
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Existing tenant space currently being marketed for lease excluding space available for sublease
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Value-added
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A phrase generally used by advisers and managers to describe investments in underperforming and/or undermanaged assets. The objective is to generate 13 percent to 18 percent returns.
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Variable rate mortgage (VRM)
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A mortgage with an interest rate that changes with fluctuations in such indexes as the prime rate, LIBOR Rate, or treasury bill.
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Variable-rate
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A loan interest rate that varies over the term of the loan, usually tied to a predetermined index. Also called adjustable-rate.
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Variance
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Permission that allows a property owner to depart from the literal requirements of a zoning ordinance that, because of special circumstances, cause a unique hardship
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Verification of deposit (VOD)
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As part of the loan process a lender may ask a borrower's bank to sign a statement verifying the borrower's account balances and history.
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Verification of employment (VOE)
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As part of the loan process a lender may ask the borrower's employer for confirmation of the borrower's position and salary.
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Virtual storefront
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An online business presence for sales
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