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Glossary of Terms

Following are mortgage and real estate related terms and definitions you may find helpful.

If you have questions and would like to speak with a VA mortgage specialist, please call us toll free at 1-866-704-2826.

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Underwriting: The process a lender uses to determine loan approval. It involves evaluating the property and the borrower's credit and ability to pay the mortgage.

Uniform Residential Loan Application: A standard mortgage application your lender will ask you to complete. The form requests your income, assets, liabilities, and a description of the property you plan to buy, among other things.

Unsecured-loan: A loan that is not backed by collateral.
 
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