VA LOAN:
A loan on below market terms guaranteed by the Department of Veterans Affairs, given to former members of the armed forces.

VARIABLE INTEREST RATE:
An interest rate that may change according to change in the index rate. See "adjustable interest rate".

VARIABLE-MATURITY MORTGAGE:
A long-term loan in which the date the balance is due may be changed to adjust the level of periodic payments.

VERIFICATION OF DEPOSIT (VOD):
A certification of the status of a borrower's bank accounts.

VERIFICATION OF EMPLOYMENT (VOE):
A certification of the employment status of a borrower, signed by the borrower's employer.

VOLUNTARY LIEN:
A claim that is recorded/registered with consent of the owner.