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Real Estate Dictionary: Maplewood, Millburn and Summit New Jersey home buying, real estate listings, and homes for sale in Essex County and Morris County County, NJ

Welcome > Resources > Real Estate Dictionary - A

VA guarantee	An insurance contract for which the Veterans Administration (VA) guarantees the lender's recovery of a designated percentage of the loan amount from the insurer in the event that the borrower defaults on the loan
VA loan, or Government mortgage	A mortgage loan available to qualified military veterans which is guaranteed by the Department of Veteran Affairs, usually offering either no down payment or a low down payment
Valuation	The estimated of value of a property
Variable rate mortgage, or Adjusted rate mortgage	A mortgage with interest rates that may fluctuate based on market conditions
Verification of Deposit	A statement signed by the borrower's financial institution that verifies the current balances in the borrower's accounts
Verification of Employment	A statement signed by the borrower's employer that verifies the borrower's current position and salary
Vest	To pass an immediate right on to a person
Vested	Having the right to withdraw a percentage of a fund before its agreed-upon maturity date; e.g., the percentage vested to individuals with retirement funds differs; if someone is 80% vested, that means they can only withdraw 80% of the funds set aside for them until its maturity
Department of Veterans Affairs (VA)	A federal agency that insures residential mortgages made to eligible military veterans, which thereby encourages loans being made to veterans

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Gail Middleton and Catherine Allebé, REALTOR®, real estate agents and broker for Maplewood, Millburn and Summit New Jersey home listings, property and land for sale - NUMBER1EXPERT(tm)

Gail Middleton and Catherine Allebé
Keller Williams
488 Springfield Ave
Summit NJ 07901
973-376-0033 ext 336
973-723-3445
Fax: 973-810-0206
Email: gailmiddleton@NUMBER1EXPERT.com
Gail is a life long resident of the Maplewood, Short Hills, Milburn and Summit area and is celebrating her 32nd year as a top local Realtor. Her extraordinary negotiating skills and knowledge of the current market and it’s trends have allowed her clients, whether buying or selling, to achieve their goals in a well-informed, stress-free manner. Gail believes in ongoing education in her profession, with particular interest in technology and environmental issues. Her marketing strategy is like no other and results in the highest price and quickest sale within the scope of Sellers’ needs. Gail is a member of the Coldwell Banker Realtors Elite President’s Council and has earned the prestigious CRB (Certified Real Estate Broker) and GRI (Graduate of Realtor Institute) designations; is a Relocation Specialist, certified Condo Specialist, as well as a Historic Properties and Luxury Homes Specialist. Middleton holds numerous high-performance awards resulting from her policy of treating each and every client with integrity, professionalism and, most importantly, caring. You will always be # 1 when working with her.

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