Learning Center Glossary
Department of Veterans Affairs
The VA guaranty amount that a particular veteran is entitled to.
The portion of a VA loan guaranteed by the Department of Veterans Affairs; the maximum amount that the VA will pay the lender for a loss resulting from the borrower's default.
A long term, low or no down payment loan guaranteed by the Department of Veterans Affairs. Restricted to individuals qualified by military service or other entitlements.
|Verification of Deposit||
A form a lender sends to a financial institution for confirmation that a loan applicant has the funds on deposit that he or she claims to have.
|Verification of Employment||
A form a lender sends to a loan applicant's employer, for confirmation that the applicant is actually employed as claimed, and to verify the amount of the applicant's salary.