A mortgage that is guaranteed by the Department of
Veterans Affairs (VA). Also known as a government mortgage.
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withdrawn.
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.