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The fee for Washington state has been $500 for an appraisal with up to 10 days for the appraisal to be delivered. Before the appraisal crisis, many would often complain about how long it took to get a VA appraisalâ¦however, 10 days to receive an appraisal for $500 would now be a dream come true. Well get ready for higher VA fees and for the turn times to take longer. VA just issued a notice that effective November 1, 2016, the cost for an appraisal for a single family home utilizing a VA mortgage will increase to $800! In addition, appraisers will be allowed 14 business days to complete an appraisal (up from 10 business days).
VA appraisal costs are assigned by the VA -- not your lender. The VA allows buyers to purchase homes with no money down and permits certain closing costs to be added to the buyer's loan size. Appraisal costs, however, are often excluded; appraisals must be paid with savings. To protect home buyers, the Department of Veterans Affairs enforces a VA appraisal fee schedule so you can feel safe in knowing that your appraisal costs are fair and reasonable. Note that the VA Streamline Refinance does not require an appraisal. There are no appraisal costs associated with a VA-to-VA loan refinance. VA appraisers will inspect your home for defects Another main difference between VA appraisals and the appraisals required for other loan types is the depth of work required.