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 Mortgage glossary: Letter V
 
VA Loan Government mortgage guaranteed by the Department of Veterans Affairs.

VA No-No A type of VA loan where the borrower not only puts no money down, but also pays no closing costs.

Verification of Deposit (VOD) A VOD is aform mailedto a bank or credit union that asks the institution to verify that a borrower's bank account exists, how much is in it, how long the borrower has had it, and what the average balance was over the previous two months.


 
 
 
 


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