VA Loan - A loan that is partially guaranteed by the Veteran Administration and made by a private lender.
Valid - Having binding force; legally sufficient and authorized by law.
Veterans Administration (VA) - An independent agency of the federal government created by the Service Men's Readjustment Act of 1944 to administer a variety of benefit programs designated to facilitate the adjustment of returning veterans to civilian life. Among the benefit programs is the home loan guaranty program designated to encourage mortgage lenders to offer long-term low down payment financing to eligible veterans by guaranteeing the lender against loss on either higher-risk loans.
Void - To have no force or effect; that which is unenforceable.
Voidable - That which is capable of being adjudged void, but is not void unless action is taken to make it so. Able to be made void.
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