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If I change lenders, can I still use the same appraisal that I already paid for?

by RPlant_396_783 from New Britain, Connecticut. Oct 4th 2012 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,588 contributions

It depends on the type of loan your going for.. If it's FHA, probably.. if it's Conventional, then it's up to the lender if they will accept transported appraisals or not.. I will say that most will not allow it, so check before you make a move.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Oct 4th 2012
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#76 ranked lender in Florida - 2,240 contributions

You will have to check with the lender you are wanting to switch to. Some lenders will allow it but most wont.

Oct 4th 2012
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Martha Rodriguez (Mrodriguez)
#694 ranked lender in California - 5 contributions

If they used a FHA appraisal, then yes. If it was a conv..then maybe..depends on where the appraiser is on the approved list of your new lender.

Oct 4th 2012
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,875 contributions

If the appraisal is a VA or FHA appraisal, then the answer is absolutely YES. If it is a conventional loan appraisal, then while it is potential possible, the usual answer is no. It is up to each individual lender on conventional loan, and for a large number of reasons, they say no. I'd say it is about 90/10 - 90% no, 10% yes.

Oct 5th 2012
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