Have you seen something that talked about the VA streamline refinance program not requiring an appraisal and had a lender tell you that they required an appraisal?
You are not alone.
Many people have questions about the VA streamline program and whether or not an appraisal is required.
VA Streamline Refinance: No Appraisal Required
The VA streamline is a popular program because it requires less documentation than a traditional full-document VA refinance. According to the VA guidelines, no appraisal is required – BUT – some lenders will require an appraisal as a result of their own guidelines.
In the event that a lender requires an appraisal, you can either go through with an appraisal or you can simply shop for a different lender. Not all lenders will require an appraisal (because it isn’t a VA guideline, it is lender specific) – so the easiest way to get a VA streamline with no appraisal done is to shop for a different lender.
When you shop for a different VA approved lender, you may be surprised to learn how different each lender can be to work with. Some lenders are slow, some are fast. Some are big, some are small. Some have great rates, some don’t.
Shopping for a different VA lender is easy, and free rate quotes from an approved VA lender should never cost money.
Having trouble with your current lender requiring an appraisal on a VA streamline loan? Start right here by shopping for a new lender who doesn’t require an appraisal for a VA streamline today.
