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Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Common Terms 1   Common Terms 2

VA Loan

Function: noun

A type of loan that is only available to veterans who served in the U.S. Armed Services, and in some cases to spouses of deceased veterans. The requirements for VA loans vary according to what year the veteran served and whether the discharge was honorable or dishonorable. One large benefit to a VA loan is that the borrower is not required to have a down payment. This type of loan is guaranteeed by the department of Veteran Affairs, but it is funded by a regular lender.