VA Loan Reader Question: Appraisal and Compliance Inspection Fees

Mortgage and Lending with Real -Time Dashboard FHA Mortgage Leads / Managing Editor

A reader asks, "Hi, I am wondering if the first VA appraisal requires something to be repaired before closing, if that "item" is fixed...who then pays for the second appraisal? Does the buyer have to pay twice?"

The VA appraisal which requires an item to be corrected or fixed may include a requirement for a "compliance inspection" to insure the item has been fixed to the satisfaction of the VA.

Such inspections, when a fee is incurred, would be paid for by the borrower.

To some this seems like "paying twice". But it's important to understand that a VA appraisal is a service--a service rendered regardless of the appraiser's discoveries during the visit. It's the same thing as taking a car to the auto mechanic, going to the dentist, or calling the plumber. These people are all paid to perform a service and so is the VA fee appraiser.

The same is true of any compliance inspection--again, the appraiser has rendered a service and must be paid accordingly. Borrowers should anticipate and budget for VA appraisals and any compliance inspection as such costs are a typical part of purchasing a home with a VA loan.

If you don't have money set aside for appraisal fees, credit reports, or other standard VA loan costs, you may find it financially troublesome--give yourself time to save for these costs before committing to a VA loan.

Do you have questions about the VA home loan process? Ask us in the comments section.

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Bruce Reichstein Managing Editor
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