"Dear Consumer Resource Network, thank you for leading us to a beautiful home. We fell in love with it almost immediately. We have not moved in yet because all the pipes were burst. The repairs are almost complete. Your reward voucher will help us with a few additional repairs."

- David E.

... more

Glossary of Terms


We have compiled a list of the most common real estate terms and definitions to assist you in your search for a home. Whether you are a buyer or seller of real estate it is easy to get confused by the language used in real estate transactions. With our comprehensive real estate glossary you can easily navigate through the complicated world of buying and selling a home.

Click in the letter below to see the glossary

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 loans
Loans made by lenders that are guaranteed by the Veterans Administration for veterans. The veteran must have their VA Eligibility Certificate and plan to live in the home. The benefits are a lower downpayment and cost requirements.
valuation
The estimated worth or price. The act of valuation by appraisal.
variable rate mortgage (VRM)
A loan with an interest rate that hinges on factors such as the rate paid on bank certificates and Treasury bills.
Veterans Administration (VA)
A key program of the U.S. Department of Veterans Affairs. The Veterans Administration allows most veterans to purchase a house without a down payment.