APPRAISERS PROTECT VETERANS
The 116th Congress has made changes to the VA home appraisal program. Things you need to know!
New policies are taking place with the Veterans Administration Loan Program. The bill was called H.R. 299 and it just passed this year! The traditional appraisal process for V.A. loans could change significantly and possibly put Veteran Home Buyers at risk!
It may not be a credentialed appraiser who inspects the home you are purchasing!
Veteran Home Buyers could be at risk!
The Veterans Administration appraisal process has long been considered the “Gold Standard” in banking valuation. The VA only hires professional real estate appraisers to inspect and value houses for veterans in home purchase transactions.
VA loans have a very low foreclosure rate and required no taxpayer bailouts during the financial crisis of 2008.
That may change very soon!
Lawmakers have proposed changes that could eliminate the appraiser or their trainee from the appraisal inspection process. That’s right.
Someone other than the appraiser, who is not regulated could be allowed to inspect the property a veteran is purchasing. If the appraiser doesn’t have an accurate picture of the condition or size of the home, the results of the assignment could be inaccurate and a veteran stands a greater chance of overpaying for a home!
What can our veterans do to make sure they have an accurate appraisal?
Hire your own appraiser before you purchase a home.
This is the simple truth…
The appraisal ordered from the Veterans Administration is not performed for the home buyer’s benefit or protection. This appraisal is only used for the VA’s risk analysis.
This is not the appraisal you should rely on when you purchase a home.
Order your own private appraisal when you buy a home and make sure you know where you stand on the home’s value and your net worth. If you don’t want to overpay, you need to have the “appraiser’s eyes” on the property.
Our representative appraisers at FindMyAppraiser.com offer veteran discounts!
Look for the American Veteran American Appraiser logo on an appraiser’s profile. These appraisers are veterans, just like you!
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