Chicago and Lincoln Park real estate and homes for sale in Illinois - Tod Pratt, REALTOR® Tod Pratt REALTOR(r) for Lincoln Park, Illinois real estate - NUMBER1EXPERT™ Tod Pratt NUMBER1EXPERT(tm) for Lincoln Park, Illinois real estate

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Tod Pratt, REALTORŪ, real estate agent and broker for Chicago and Lincoln Park Illinois home listings, property and land for sale - NUMBER1EXPERT(tm)
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Real Estate Dictionary: Chicago and Lincoln Park Illinois home buying, real estate listings, and homes for sale in Cook County, IL
Welcome > Resources > Real Estate Dictionary - A

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

V

VA guarantee

An insurance contract for which the Veterans Administration (VA) guarantees the lender's recovery of a designated percentage of the loan amount from the insurer in the event that the borrower defaults on the loan

VA loan, or Government mortgage

A mortgage loan available to qualified military veterans which is guaranteed by the Department of Veteran Affairs, usually offering either no down payment or a low down payment

Valuation

The estimated of value of a property

Variable rate mortgage, or Adjusted rate mortgage

A mortgage with interest rates that may fluctuate based on market conditions

Verification of Deposit

A statement signed by the borrower's financial institution that verifies the current balances in the borrower's accounts

Verification of Employment

A statement signed by the borrower's employer that verifies the borrower's current position and salary

Vest

To pass an immediate right on to a person

Vested

Having the right to withdraw a percentage of a fund before its agreed-upon maturity date; e.g., the percentage vested to individuals with retirement funds differs; if someone is 80% vested, that means they can only withdraw 80% of the funds set aside for them until its maturity

Department of Veterans Affairs (VA)

A federal agency that insures residential mortgages made to eligible military veterans, which thereby encourages loans being made to veterans

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z



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Tod Pratt, REALTORŪ, real estate agent and broker for Chicago and Lincoln Park Illinois home listings, property and land for sale - NUMBER1EXPERT(tm)

Tod Pratt
Koenig& Strey

1940 North Clark Street
Chicago, IL 60614
312-475-4185
773-744-4433
Fax: 312-943-6500
tod@yourhomeinchicago.com

Tod has been successfully selling residential real estate full time for the past 16 years. Since the beginning of his real estate career, Tod has believed that good listening and communication skills are his keys in assisting his clients toward the successful search, purchase, and closing of their new home. In this service-oriented business, giving clients the timely, appropriate advice they need is what Tod strives to deliver to every client. In 1993 Tod received the GRI designation (Graduate Realtors Institute), and in 1994, the CRS designation (Certified Residential Specialist). Being the recipient of these designations shows Tod's professional commitment to his industry, and more importantly, to his clients. Tod has had much experience in assisting relocating corporate clients into their new city and home. Tod has been a recommended realtor of Johnson & Johnson, Bristol-Myers Squibb, Jannsen Pharmaceutical, along with many others. Tod specializes in the sale of the following downtown areas of Chicago: Lincoln Park, Gold Coast, The 'Loop', River North, River West, Wrigleyville, and Lakeview. Give Tod a call today and let him use his experience to help you find 'your home in Chicago'.

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