Glossary of Real Estate Terms

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Term Definition
Unsecured Loan

A loan that is not backed by collateral.

VA Guaranteed Loan

A mortgage loan that is guaranteed by the U.S. Department of Veterans Affairs (VA).

Veterans Affairs (VA)

A federal government agency that provides benefits to veterans and their dependents, including health care, educational assistance, financial assistance, and guaranteed home loans.

Aliases (separate with |): U.S. Department of Veterans Affairs|VA
Walk-Through

A common clause in a sales contract that allows the buyer to examine the property being purchased at a specified time immediately before the closing, for example, within the 24 hours before closing.

Warranties

Written guarantees of the quality of a product and the promise to repair or replace defective parts free of charge.

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