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VA LoanSee also: Veterans Administration
Variable Rate Mortgage (VRM)See also: Adjustable Rate Mortgage
Veterans Administration (VA)The federal agency responsible for the VA loan guaranty program as well as other services for eligible veterans. In general, qualified veterans can apply for home loans with no down payment and a funding fee of 1 percent of the loan amount.
Veterans' Recruitment Appointment (VRA)A special authority by which agencies may appoint an eligible veteran without competition. The candidate must meet the basic qualification requirements for the position and can be referred directly to a hiring manager for consideration. The use of the authority is entirely discretionary and no one is entitled to a VRA appointment. VRA appointees initially are hired for a 2-year period. Successful completion of the 2-year VRA appointment leads to a career appointment.
Last Modified: 12/11/2020 3:47 PM