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.
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.
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.
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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