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V-cap

A piece of ceramic tile that is used at the edge of a counter to trap liquids.

VA (Veterans Administration)

The Veterans Administration allows most veterans to purchase a house without a down payment.

VA loan

A loan through the Veterans Administration program.

valley

The angled intersection between two roof planes where water collects and runs off the roof via a special metal flashing installed for that purpose.

valuation

1. The estimated worth or price.

2. The act of valuation by appraisal.

vapor barrier

A material that prevents the passage of moisture.

variable interest rate

A loan rate that moves up and down based on specific factors.

variable rate

An interest rate that changes with fluctuations in the indexes.

variable rate mortgage (VRM)

A loan with an interest rate that is based on specific factors.

vaulted ceiling

An elongated half-cylinder ceiling that arches above the floor.

veneer

A thin surface layer that is glued to an inferior material.

vent

A pipe that allows air to flow in a drainage system.

ventilation

The process of replacing stale air with fresh air.

verification of deposit

Part of a loan process where the lender asks the borrowers bank to sign a statement verifying the borrowers account balances and history.

verification of employment

Part of a loan process where the lender asks the borrowers employer for confirmation of the borrowers position and salary.

vestibule

A small entrance hall or room.

Veterans Administration (VA)

The Veterans Administration allows most veterans to purchase a house without a down payment.

Victorian style

An architectural style that dates from the mid-19th century.

vinyl-clad windows

Wood windows that are sheathed in vinyl on the outside.

violation

An act, deed, or condition that is contrary to the permissible use of property.

Visqueen

A brand of polyethylene sheet that is used to cover the ground in a crawl space.

voidable contract

A contract that may be rejected by either one of the parties involved.

volt

A unit of measurement of electrical force between two points in a circuit.

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