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Valuation fee 
A fee paid by a borrower to cover the cost of the Valuation Report.

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.

Verification of deposit
As part of the loan process, a lender will ask a borrower's bank to sign a statement verifying the borrower's account balances and history.

Verification of employment
As part of the loan process, a lender will ask the borrower's employer for confirmation of the borrower's position and salary.

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