1. The document issued by a VA-approved appraiser for a VA loan is the:
Answer & explanation
Answer: A. The VA appraiser issues a CRV. The Certificate of Eligibility establishes the veteran's entitlement before applying.
finance
VA loan
A VA loan is a mortgage partially guaranteed by the U.S. Department of Veterans Affairs and made by private lenders to eligible veterans, active-duty service members, and certain surviving spouses. VA loans often allow no down payment and do not require monthly mortgage insurance, though a one-time funding fee usually applies. The borrower needs a Certificate of Eligibility and must intend to occupy the home. The VA guarantees, rather than insures, the loan.
- Exam tip
- VA guarantees; FHA insures. VA loans can have 0% down and no PMI but charge a funding fee. Eligibility is proven by a Certificate of Eligibility.
- Example
- A veteran buys a $300,000 home with no down payment using a VA loan and pays a funding fee that is rolled into the loan.
Related terms & state variants
Sources
Source verification pending. Confirm current requirements with your state regulator.
Last verified: 2026-10-23