The VA appraisal scares a lot of buyers and a lot of sellers. Most of that fear comes from bad information. Here is how the VA appraisal really works, straight from the VA Lender’s Handbook. Who orders it. What it costs. How long it takes. And what happens when the number comes in low.
Who Orders It
Your lender orders the VA appraisal through VA’s online system. VA then picks the appraiser from its own list. Your lender does not get to choose. Your agent does not get to choose. That is on purpose. It keeps the value honest.
The appraiser must reach out to set up a visit within two business days of getting the order.
What the Appraiser Does
Two jobs. First, the appraiser sets the home’s value. They follow the same rules every licensed appraiser follows. Second, the appraiser looks for anything that does not meet VA’s Minimum Property Requirements. Those are basic safety, soundness, and sanitation standards. If something fails, the appraiser lists it as a repair.
What It Costs
VA sets a maximum appraisal fee for each area of the country. The appraiser cannot charge a veteran more than they charge anyone else for the same work. VA does not allow rush fees. A large or unusual home can cost more, but only with VA’s okay. The VA fee list is posted here by state.
You pay the fee to your lender up front. The lender must promise VA it is holding that money before VA will even assign an appraiser.
How Long It Takes
VA sets a time limit for each area based on how long regular appraisals take there. The goal is to be as fast or faster than a normal appraisal. If the appraiser runs into a delay, like no access to the home, they have to log it in VA’s system. Once they get in, the report is due within three business days of the visit.
The Notice of Value
Here is the step most people never hear about. The appraisal does not go straight to you. It goes to a reviewer at the lender. VA calls this person a Staff Appraisal Reviewer, or SAR. The SAR checks the report and issues a Notice of Value, or NOV. The NOV is the official number. It also lists every condition that must be met before the loan can close.
- The SAR must issue the NOV within five business days of getting the appraisal.
- You get a copy of the NOV and the full appraisal the same day it is issued.
- The NOV is good for six months.
- The NOV can only list repairs VA requires. A lender cannot add its own repair demands to it.
What are you looking to do?
No SSN required. No credit pull. Takes about 2 minutes.
What If the Value Comes In Low
You have options. More than most people think.
- Before the report is done. If the appraiser expects the value to land under the sale price, VA requires them to tell your lender first. You then get two business days to send in better sales data. This is the Tidewater process.
- After the NOV. You can ask VA to take a second look. VA calls this a Reconsideration of Value. VA reviews it within five business days. If they send someone out to look, that takes up to 20 business days.
- Renegotiate. The seller can drop the price. Or the seller can cover part of the gap through seller concessions.
- Pay the difference. You can bring cash to cover the gap. VA’s escape clause means you are never forced to. You can also walk away and keep your earnest money.
What If Repairs Are Required
The NOV will list them. Most get fixed before closing. VA also lets the lender hold money in escrow so some repairs can be done after closing. And you can ask VA to waive a repair if the home is safe and livable without it. Here is how the repair rules and waivers work.
Switching Lenders After the Appraisal
The appraisal belongs to you, not the lender. If you switch lenders, the old lender must transfer the case when you ask in writing. Email counts. The new lender’s reviewer then issues a new NOV. You do not pay for a second appraisal.
When You Do Not Need One
A VA IRRRL usually skips the appraisal. Every VA purchase and every VA cash-out refinance requires one.
Sources: VA Lender’s Handbook M26-7, Chapter 10 (Appraisal Process, Topics 1, 2, 7, 8, 22, 23, 24, 26) and Chapter 13 (Notices of Value, Topics 1, 5, 7, 8). VA Pamphlet 26-7 as published on KnowVA, updated July and August 2026.
Frequently Asked Questions
Who picks the VA appraiser?
VA does. The lender orders it in VA’s system. VA then assigns an appraiser from its own list. The lender, the buyer, and the agents have no say in who is chosen.
How much does a VA appraisal cost?
VA sets a max fee for each area and posts it online. The appraiser cannot charge a veteran more than anyone else for the same work. Rush fees are not allowed. A large or unusual home can cost more with VA’s okay.
How long does a VA appraisal take?
It depends on your area. VA sets a time limit for each one. The goal is to match or beat a regular appraisal there. The appraiser must make contact within two business days. Once the report is in, the lender’s reviewer has five business days to issue the Notice of Value.
What is a Notice of Value?
The NOV is the official value. It also lists every condition the home must meet before the loan can close. The lender’s reviewer issues it after checking the appraisal. It is good for six months. You get a copy the same day.
Is a VA appraisal the same as a home inspection?
No. The appraiser sets the value and checks VA’s basic property rules. They do not test the furnace, the wiring, or the appliances. VA tells every veteran to get a home inspection too.
What happens if the VA appraisal comes in low?
Before the report is final, the Tidewater process gives you two business days to send in better sales data. After the NOV, you can ask VA for a second look. You can also renegotiate, use seller concessions, pay the difference, or walk away under the VA escape clause.
Can I transfer a VA appraisal to a new lender?
Yes. The old lender must transfer the case when you ask in writing. The new lender’s reviewer issues a new Notice of Value. You do not pay for a second appraisal.
Does a VA IRRRL need an appraisal?
Usually not. That is one of the main benefits of the streamline refinance. Purchases and cash-out refinances always need one.