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Mortgage Glossary - V

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Variable Rate
An interest rate that changes periodically in relation to an index. Payments may increase or decrease accordingly.

VA Loan
More appropriately termed "VA Insured Loan." A loan for which the Veteran's Administration insures the lender against losses the lender may incur due to your default. Available only to veterans possessing a Certificate of Eligibility.

North Coast Mortgage | 3015 F Street Eureka, CA 95501 | vicigordon@suddenlinkmail.com | ph. 707-443-6731 | fax 707-443-6735