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V-cap
A specially shaped piece of ceramic tile used
at the edge of a counter to trap liquids. |
VA (Veterans Administration)
A key program of the U.S. Department
of Veterans Affairs. The Veterans Administration allows
most veterans to purchase a house without a down payment. |
VA loan
A loan through the Veterans Administration program,
which allows most veterans to purchase a house without
a down payment. |
valley
The angled intersection between two roof planes
where water collects and runs off the roof. Valleys
are often protected with special metal flashing because
they must handle heavy water flow without leaking. |
valuation
The estimated worth or price. The act of valuation
by appraisal. |
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vapor barrier
A material such as plastic that
prevents the passage of moisture. |
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
An interest rate that changes with fluctuations
in such indexes as the U.S. Treasury bill index. |
variable rate mortgage (VRM)
A loan with an interest rate that
hinges on factors such as the rate paid on bank certificates
and Treasury bills. |
vaulted ceiling
An elongated half-cylinder that arches above the
floor. |
veneer
A thin facing material that is applied over a
structural base. A veneered door, for example, may
have a hollow or solid wood core and a thin surface
layer of fine hardwood. |
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vent
A pipe that allows air to flow in a drainage system. |
ventilation
The process of replacing stale air with fresh
air, usually by circulation through a series of vents
or a mechanical system such as an air conditioner. |
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)
A key program of the U.S. Department
of Veterans Affairs. The Veterans Administration allows
most veterans to purchase a house without a down payment. |
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Victorian style
An architectural style that dates
from the mid-19th century. |
vinyl-clad windows
Wood windows sheathed in vinyl
on the outside. |
violation
An act, deed, or condition contrary to the permissible
use of property. |
Visqueen
A brand of polyethylene sheet used to cover the
ground in a crawl space. |
voidable contract
A contract that may seem to be
valid, but can be rejected by either one of the parties. |
volt
The unit used to measure electrical force between
two points in a circuit. The current at most receptacles
in the United States and Canada is approximately 120
volts. |
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volt-ohm meter
An electrical test device used
for making a variety of electrical measurements, including
voltage and current. |
voltage
The pressure behind the flow of electricity. |
voluntary lien
A lien that a homeowner willingly gives to a lender. |
