The obtained certificate is valid for six months for resale purposes and 12 months for the new construction.
CRV stands for Certificate of Reasonable Value. The Veterans Administration will provide a Certificate of Reasonable Value once the inspection is over and the house passes. Based on the valuation of the home, this certificate specifies the maximum sum of money the VA will loan the applicant. The VA conducts an appraisal for a number of valid reasons. The home's worth must be equal to or less than the targeted mortgage amount. To put it another way, the VA wants to make sure that the home's price does not exceed its market value. The lender wants to make certain that the investment they are making satisfies the bank's and the VA's requirements.
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