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V

Variable Interest Mortgage	A loan where the interest rate may vary during the term of the mortgage. The variance is usually tied to some specific factor such as prime bank rate or the guaranteed investment certificate rate for a designated lender.
Vendor Take Back Mortgage	A mortgage which a vendor of real property takes from the purchaser usually as part payment of the purchase price for that property. A private first or second mortgage that the vendor lends to the purchaser/borrower.