USAVA Lending is a VA Approved Lender | NMLS ID 966439 | MB 0921703
14 2015

VA Appraisal success

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A VA appraisal is part of the VA home loan process and an evaluation of a home to be bought using the loan. An appraisal is not optional and may have a big impact on the buying process.

USAVA will order the VA appraisal for the prospective buyer and an appraiser will be selected random by the Department of Veteran Affairs (VA). The appraiser ensures the property meets the set VA Minimum Property Requirements (MPR) and its market value. A VA appraisal is NOT a home inspection. The appraisal fee varies by state and is paid by the buyer, usually with closing costs.

The criteria is established by the VA and it is important to understand that the criteria may differ from local compliance codes. A good appraisal from the VA does not guarantee a good appraisal on the local level.

The property appraised must be a move-in ready, single-family home with no safety hazards. Problems that would not meet MPRs must be fixed by the seller before closing.

The VA will not approve single-family home loans for building that are primarily for commercial use with attached living space.

Properties appraised for a lower value than their selling price may ask for a reconsideration of value. The value may be lowered based on homes similar in value that were not used during the first appraisal. Other options include negotiating a lower price with the seller or paying the difference in value in cash.

Your experienced USAVA agent will take care of all the paperwork and notify you once the process is complete.