Finance
A Kentucky buyer is purchasing a home with a VA loan. VA appraisers establish a Certificate of Reasonable Value (CRV) primarily to:
ADetermine the buyer's creditworthiness
BProtect the veteran by ensuring they don't overpay for the property✓ Correct
CSet the maximum selling price for VA-eligible properties
DSatisfy lender requirements for hazard insurance
Explanation
The VA appraisal establishes the Certificate of Reasonable Value (CRV), which is the VA's determination of the property's value. The VA will not guarantee a loan for more than the CRV, protecting the veteran from overpaying. The veteran is not required to pay more than the CRV.
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