VA Appraisal Process
Understand the VA appraisal — what it covers, how long it takes, Minimum Property Requirements, and how to avoid common issues.
Program Overview
The VA appraisal is a required step in the VA loan process. Unlike conventional appraisals, the VA appraisal serves two purposes: it determines the fair market value of the property AND verifies that it meets VA Minimum Property Requirements (MPRs). These requirements ensure that the home is safe, structurally sound, and sanitary. Understanding the VA appraisal process helps set expectations and avoid common delays.
Who Is This Loan For?
- ✓ VA homebuyers preparing for the appraisal
- ✓ Sellers of homes being purchased with VA loans
- ✓ Real estate agents working with VA buyers
- ✓ Veterans with a VA loan under contract
Key Benefits
Minimum Property Requirements (MPRs)
The VA appraiser checks for adequate roofing, safe electrical and plumbing, functioning HVAC, no lead paint hazards, and proper drainage.
Timeline
VA appraisals typically take 7-10 business days but vary by region. Airus Lending works to expedite the process.
Tidewater Initiative
If the appraiser believes the value may come in below the purchase price, they must invoke "Tidewater" — giving the parties time to provide comparable sales data.
Reconsideration of Value (ROV)
If the appraisal comes in low, borrowers can request a Reconsideration of Value with additional comparable sales.
Qualification at a Glance
General Requirements
- Property must have adequate heating and cooling
- Roof must be in good condition with minimum 2 years remaining life
- No lead-based paint hazards (properties built before 1978)
- Safe and functional electrical, plumbing, and mechanical systems
- No termite damage or active infestations
- Adequate potable water supply and sewage disposal
- Property must be accessible from a public or private road
Documents Typically Needed
- Signed purchase contract
- Property address and access information
- Any renovation plans or disclosures
- Comparable sales data (if needed for ROV)
Frequently Asked Questions
If the appraisal is less than the purchase price, you have options: renegotiate the price with the seller, pay the difference in cash, request a Reconsideration of Value with additional comparable sales, or in some cases, walk away with your earnest money protected by the VA escape clause.
Broker Disclosure: Scout Financial Group Inc DBA Airus Lending is a licensed mortgage broker (NMLS #2187418) and does not make loans or credit decisions. Airus Lending works with multiple wholesale lenders to help borrowers compare available loan options. Final approval depends on the lender, automated underwriting findings, documentation, state requirements, and overall borrower profile. Not all applicants will qualify.