By Joseph T Ellington Jr – Licensed Residential Appraiser, Capital Valuations. Updated September 2026.
What to do when a mortgage appraisal seems inaccurate
A lower-than-expected appraisal can affect a purchase or refinance, but disagreement with the value alone is not evidence of an error. A reconsideration of value (ROV) gives the lender and appraiser a defined way to review specific, relevant information. The process should protect appraisal independence and may leave the value unchanged.
The ROV process at a glance
| Step | Responsible party | Useful material |
|---|---|---|
| Identify a concern | Borrower and lender | Specific report page or omitted sale |
| Submit a request | Borrower through lender | Lender’s form and supporting evidence |
| Independent review | Appraiser through lender | Verified facts and relevant comparable sales |
| Decision and communication | Lender | Revised report or reason value remains |
Who handles a borrower-initiated ROV?
For a lender-ordered appraisal, contact your lender or loan officer for its ROV instructions. Under Fannie Mae’s borrower-initiated ROV guidance, the lender collects a qualifying request and sends it to the appraiser. Fannie Mae says borrowers may request a maximum of one ROV per appraisal report under its policy. Other loan programs and lenders may have different procedures; follow the instructions for your transaction.
An appraiser must evaluate the information independently. An ROV is a request for review, not a request to reach the contract price or a particular number. For background on bias concerns, our summary of a 2022 NCRC investigation distinguishes the reported findings from what a value difference alone can establish.
What evidence is useful?
- Factual corrections: point to the page and item, such as an incorrect room count, omitted permitted feature, measurement detail, or factual property description; include records or photos when available.
- Comparable sales: supply addresses, closing dates, sale prices, and why those sales are comparable. Similar location, property rights, size, condition, and sale timing matter more than simply selecting the highest prices.
- Improvement records: provide dates, scope, permits where applicable, and supporting documents. Cost does not necessarily equal market value.
- Market context: identify verifiable information the appraiser may not have considered, with a concise explanation of relevance.
How to submit a clear request
- Read the appraisal report and the lender’s instructions. Identify exact issues instead of asking for a higher value in general.
- Organize evidence by report page and property feature or sale. Avoid duplicative lists and unsupported claims.
- Send it to your lender through its stated channel. Your agent may help gather records, but the lender controls the ROV path for its appraisal.
- Review the lender’s response. The appraiser may correct a fact while leaving the opinion of value unchanged, or may revise the conclusion when the evidence warrants it.
Fannie Mae’s guidance says a borrower-initiated ROV can lead to corrections in the report even when the value does not change. Timing and available options depend on the lender and transaction; ask your lender about deadlines, fees, and next steps. Keep negotiations and financing decisions with your agent, lender, and other appropriate advisers.
Local property details that can matter
In Hampton Roads, a waterfront location, flood exposure, unusual lot, historic construction, attached or detached living area, or recently renovated space may require careful description and comparable-sale analysis. Whether any item changes value depends on market evidence and the scope of the assignment. A local name or landmark does not substitute for comparable sales.
Related reading: how appraisers select comparable sales, appraisal versus home inspection, and our appraisal review services. These address different questions and may not replace the lender’s ROV.
Can Capital Valuations help?
If Capital Valuations prepared the lender’s report, route any ROV through that lender’s process. If you need an independent appraisal for a separate permitted purpose, contact us to discuss the intended use. We cannot promise a revised value, interfere with another appraiser’s independent work, or replace your lender’s ROV process.