Proposed VA Bill to Allow Some Desktop Appraisals, Waivers

Originally published on May 23, 2022, by Maria Volkova for

A piece of legislation introduced in the Senate in mid-May could streamline the appraisal process for VA loans. The legislation would modernize the Department of Veteran Affairs‘ appraisal requirements by allowing desktop appraisals, and in some circumstances, waving appraisals altogether. Currently, all VA appraisals must be performed in-house.

If passed, the legislation, introduced by Sen. Dan Sullivan of Alaska and Congressman Mike Bost of Illinois, would address a longstanding gripe that VA appraisal requirements are both lengthy and costly.

Bost said in a statement that the VA appraisal requirements are a strain on veterans trying to compete in a hot housing market and that this legislation would make VA borrowers more competitive.

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