Ace the Arizona Real Estate Exam 2026 – Unlock Your Property Dreams!

To establish the value of a property for a VA-Guaranteed loan, a Certificate of Reasonable Value (CRV) is required. This document is primarily issued by the Department of Veterans Affairs and serves as an official determination of a property's market value based on a comprehensive evaluation typically performed by a VA-approved appraiser. The CRV assures lenders that the property is valued appropriately, reflecting its market conditions and ensuring borrowers do not overpay.

This valuation is crucial for VA loans as it ensures that veterans and service members are not financing more than the property's worth, aligning with the VA's mission to protect the interests of eligible borrowers. The process often involves a thorough inspection of the property in question and an assessment of comparable sales in the area to yield an accurate valuation.

Other options involve various forms of property assessment but do not fulfill the requirement needed for a VA-Guaranteed loan. A broker price opinion and competitive market analysis are typically used in different contexts and lack the formal recognition or approval of the VA, thereby not sufficing for this specific purpose. The certificate of eligibility, while vital for confirming a service member's qualification for a VA loan, does not pertain to property valuation.