V

VA Loans: Loans guaranteed by the Department of Veterans Affairs which offer low or no down payment loans to individuals that qualify through their service in the military. 

Vacancy Factor: This factor is multiplied with the gross monthly income of a property to adjust for the periods in which the property is vacant.

Verification of Deposits (VOD): Verification from the borrower's financial institution of their funds in their deposit accounts. 

Verification of Employment (VOE): Verification of the borrower’s place of employment, position, and wages. 

Verification of Mortgage (VOM): A document stating the mortgage history of the borrower.

Vesting: The names of all borrowers and an explanation of how they hold title in the property.