· Variable rate   An interest rate that changes with fluctuations in such indexes as the U.S. Treasury bill index.

· Vaulted ceiling   An elongated half-cylinder that arches above the floor.

· Verification of deposit   Part of the loan process, in which a lender will ask a borrower's bank to sign a statement verifying the borrower's account balances and history.

· Verification of employment   Part of the loan process, in which a lender asks the borrower's employer for confirmation of the borrower's position and salary.

· Vestibule   A small entrance hall or room.

· Veterans Administration (VA)   The U.S. Department of Veterans Affairs operates a variety of programs to help veterans. One of the key plans it oversees is the VA loan program, which allows most veterans to purchase a house without a down payment.

· Victorian style   An architectural style that dates from the mid-19th century.

· Vinyl-clad windows   Wood windows sheathed in vinyl on the outside.

· Voluntary lien   A lien that a homeowner willingly gives to a lender.

· VA loans   A program that allows most veterans to purchase a house without a down payment.

· Variable interest rate   A loan rate that moves up and down based on factors including changes in the rate paid on bank certificates of deposit or Treasury bills.

· Variable rate mortgage   A loan with an interest rate that hinges on factors such as the rate paid on bank certificates and Treasury bills.