VA Appraisal Rules: What’s The Deadline For a VA Appraisal?
We get many reader comments about VA home loans and are always happy to answer questions about the process. One common question involves the length of time it takes to get a VA appraisal done. Some borrowers want to know how long the process takes and whether the VA loan program has deadlines for getting the appraisal done in a timely manner.
Unfortunately there is no single answer to that question because the time lines vary depending on the state you live in. The same goes for another common question about VA appraisals. All borrowers want to know how much they’ll pay for a VA appraisal, but the fees also vary depending on the state where the home is located.
The good news is that the Department of Veterans Affairs has an online search tool to help borrowers find the VA appraisal fees and schedules for their state. At the VA Appraisal Fee Schedules And Timeliness Requirements Page, you’ll find a map of the United States, simply click on your state to download a PDF file with that state’s appraisal rules.
For example, when you click on Illinois, you learn that this state falls under the jurisdiction of the St. Paul VA Regional Loan Center. The deadline for all appraisals within this jurisdiction (except for North Dakota) have a ten-day requirement on appraisals. You’ll also find the appraisal fee schedule for this region, which falls between $400 and $450 for single family homes depending on the state. The Illinois VA appraisal fee for a single family residence is $425.
Remember, there is no standard VA appraisal fee from state to state. Much depends on the housing market in each state and what is typical and customary to charge for such services there. Some states permit the appraiser to charge for mileage and other allowable expenses, while other states restrict such expenses.
Illinois, for example, does not permit mileage charges within certain metropolitan areas including Cook County near Chicago and elsewhere. Other state rules may permit mileage fees where reasonable and necessary. For more information, see the VA Appraisal Fee Schedules And Timeliness Requirements Page.