VA Loans

Assumable Loan
A mortgage loan that permits a new home purchaser to undertake the obligation of an existing loan without altering loan terms. Typically applicable to FHA and VA loans.
Certificate of Reasonable Value (CRV)
A Certificate of Reasonable Value (CRV) is a document issued by the Veterans Administration (VA) based on an approved appraisal, which establishes a ceiling on the maximum VA mortgage loan principal.
Department of Veterans Affairs (VA)
The Department of Veterans Affairs, formerly known as the Veterans Administration, is a government agency that provides various services to discharged servicemembers, including healthcare, benefits, and loans.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.