Va Loan Appraisal Process
Sparkman Lending
Sparkman Lending
Published on January 7, 2022
Va Loan Appraisal Process

Va Loan Appraisal Process

Understanding the VA Loan appraisal process

The appraisers main job is to assess:

Verify my mortgage eligibility (May 24th, 2022)

Fair market value

Compliance with Minimum Property Requirements

The VA Appraisal Timeline

VA appraisals are ordered through the VA portal.

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The appraisal request is sent to the next available appraiser.

There are only a handful of VA certified appraisers in Middle TN so they can get backed up.

In TN, the appraiser has 7 business days to return the report.

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If the appraiser needs more time, he can go into the VA portal and request more time.

The appraiser request access via the listing agent.(Typically)

Be sure to return calls promptly and schedule the inspection ASAP.

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The appraiser uploads the appraisal into the VA system.

The appraisal goes to the Staff Appraisal Reviewer (SAR) for approval.

Here they are looking to make sure the appraisal is properly documented per the VA guidelines.

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Minimum Property Requirements (MPRs)

The SAR has 2 days to release the appraisal to the client and loan team. The SAR also issues a Notice of Value (NOV) at this time and it is recorded in the VA portal.

Client and lender is issued a copy of the evaluation

Understanding the VA certified appraisers

  • #1 thing… the VA is a HUGE account for an appraiser! They don't want to screw it up.
  • The most competent in the business
  • Additional CE required
  • Additional oversight / accountability
  • All appraisals reviewed by SAR

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