Dictionary of Business Terms: Certificate of Reasonable Value (CRV)
Certificate of Reasonable Value (CRV)
document issued by the Veterans Administration, based on an approved appraisal. It establishes a ceiling on the maximum VAmortgage loan principal. For example, a certificate of reasonable value is received for a home that was under a contract of sale. Since the certificate is for $1,000 more than the contracted price, the VA loans the full purchase price.
Dictionary of Real Estate Terms: Certificate of Reasonable Value (CRV)
Certificate of Reasonable Value (CRV)
a document issued by the Veteran's Administration, based on an approved appraisal. Establishes a ceiling on the maximum VA mortgage loan principal.
Example: A certificate of reasonable value (CRV) was received for a home that was under a contract of sale. Since the CRV was $1,000 more than the contracted price, the VA lent the full purchase price.
