Question
Question #60 of 60
What kind of document, issued by the VA, sets the maximum VA loan amount for a property?
A) Notice of mortgage amount
B) Certificate of appreciated value
C) Certificate of reasonable depreciation
D) Notice of value
What kind of document, issued by the VA, sets the maximum VA loan amount for a property?
A) Notice of mortgage amount
B) Certificate of appreciated value
C) Certificate of reasonable depreciation
D) Notice of value
Ask by Mills Simpson. in the United States
Mar 31,2025
Upstudy AI Solution
Tutor-Verified Answer
Answer
The correct answer is D) Notice of value.
Solution
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Bonus Knowledge
The correct answer is D) Notice of value. This document is crucial for veterans looking to secure a VA loan, as it provides an appraisal of the property to ensure it meets the value standards set by the VA.
This appraisal helps protect the borrower by ensuring they do not overpay for a home and that the property is worth the amount being financed. It’s an important step in the home-buying journey that ensures affordability and market value alignment!
