Debunking the VA Home Loan Appraisal Process


Solid Rock Home Loans helps Veterans by using the VA Home Loan to help Veterans purchase and finance their homes.  The appraisal process plays an important role in the mortgage process to determine the market value of the property.

While there are differences in Conventional (non-government) and VA Home Loan appraisal processes, there are similarities and in some cases the VA appraisal process can be a better experience.

  1. VA appraisers are licensed appraisers who can also complete conventional appraisals.  The qualifications for a VA appraiser are equal or better than a Conventional appraiser, as VA appraiser must know additional government lending guidelines.
  2. VA and Conventional appraisals completion times are similar.  In Hawaii, VA and Conventional appraisal completion times is approximately two to three weeks or depending on how busy the housing market is. 
  3. The cost for VA appraisal in Hawaii is better or comparable to Conventional appraisals.  The cost for a VA Home Loan appraisal in Hawaii is $650 for residential single-family homes, not including additional fees for extension travel.
  4. VA appraisals allow lenders and mortgage brokers to communicate directly with the VA appraiser.  In contrast, loan officers and mortgage brokers are not allowed to communicate with Conventional appraisers. The advantage to communicating to the appraiser is the free flow of communication and information from the Loan Officer to the appraiser and vice versa.
  5. VA appraisals provide the opportunity for the borrower or realtor to assist the appraiser if the appraisal value is less than the purchase price.  Prior to the completion of the appraisal report the VA appraiser will contact the lender or mortgage broker to request additional information that can help with the final property valuation such as sales comparables or current market data. 

As home prices continue to increase and homes become less affordable to homebuyers the VA Home Loan will be a good option for Veterans.  The VA loan provides 100% financing, competitive interest rates, and flexible underwriting guidelines.  VA Loans can be used to purchase and refinance homes.