On average, it takes the VA about 10 to 14 days to send an appraisal after the appraisal inspection has been completed.
FAQs about VA appraisal timelines:
1. What factors can affect the time it takes for VA to send an appraisal?
Factors that can affect the appraisal timeline include the workload of VA appraisers, the complexity of the property being appraised, and any delays in gathering necessary documentation.
2. Can the appraisal process be expedited?
In some cases, the appraisal process can be expedited by working with a VA-approved appraiser and ensuring all necessary documentation is submitted promptly.
3. Is there a way to track the progress of the VA appraisal?
Yes, borrowers and lenders can track the progress of the VA appraisal through the VA’s online portal or by contacting the VA directly for updates.
4. What happens if the VA appraisal takes longer than expected?
If the VA appraisal takes longer than expected, borrowers and lenders may need to adjust their timelines for closing on the loan.
5. Can borrowers request a rush appraisal from the VA?
Borrowers can request a rush appraisal from the VA in certain situations, such as when there is an impending deadline for closing on the loan.
6. Are there any ways to help speed up the VA appraisal process?
To help speed up the VA appraisal process, borrowers can ensure the property meets all VA requirements and provide any requested documentation promptly.
7. What role does the lender play in the VA appraisal process?
Lenders play a crucial role in the VA appraisal process by working with borrowers to schedule the appraisal inspection and coordinating with the VA appraiser.
8. What are some common reasons for delays in the VA appraisal process?
Common reasons for delays in the VA appraisal process include missing documentation, discrepancies in property information, and high demand for VA appraisers.
9. How important is the VA appraisal in the loan approval process?
The VA appraisal is a critical component of the loan approval process, as it helps determine the value of the property being used as collateral for the loan.
10. What happens if the VA appraisal comes in lower than expected?
If the VA appraisal comes in lower than expected, borrowers may need to renegotiate the terms of the loan with the seller or make up the difference in cash.
11. Can borrowers provide input or feedback on the VA appraisal process?
Borrowers can provide input or feedback on the VA appraisal process by communicating with their lender and raising any concerns they may have about the appraisal.
12. Are there any timelines or deadlines that borrowers should be aware of during the VA appraisal process?
Borrowers should be aware of any deadlines for completing the VA appraisal, as missing these deadlines could result in delays in closing on the loan.