Appraisal Reconsideration of Value: How to Ask for a Second Look

Published by the Modern Lending Solutions editorial team. Last reviewed: October 30, 2026.

Short answer: a reconsideration of value (ROV) is a request, made through the lender, that the appraiser look again at the report because of errors, missed information or possible bias. You have a right to a copy of the appraisal, and federal rules let the lender ask the appraiser to consider more comparable sales, explain the value, or correct errors. No federal rule we found makes the appraiser change the value. Send specific, checkable facts, and do it before the loan decision. This page covers federal rules only. It is general information, not legal or financial advice.

Step one: get the appraisal

For a loan to be secured by a first lien on a dwelling, the creditor must give you a copy of all appraisals and other written valuations promptly upon completion, or three business days before consummation, whichever is earlier, and must tell you about this right in writing within three business days of your application. It may not charge you for the copy, though it may charge a reasonable fee for the appraisal itself, and the rule applies even if the loan is denied or the application is withdrawn (12 CFR 1002.14(a), eCFR, text up to date as of October 28, 2026, read October 30, 2026). See home appraisal copy rights.

What the lender may ask the appraiser

Regulation Z bars anyone from pressuring an appraiser to hit a value, but lists actions that do not break that rule, among them asking the appraiser to consider additional, appropriate property information, including comparable properties; asking for further detail, substantiation or explanation of the value; and asking the appraiser to correct errors (12 CFR 1026.42(c)(3), eCFR, text up to date as of October 28, 2026). An ROV that asks for a set number is not one of those actions. See appraisal independence rules.

The 2024 interagency guidance

Five federal financial regulators, the CFPB among them, issued guidance on ROVs in 2024 (Federal Register, 89 FR 60549, July 26, 2024, read October 30, 2026; a 2024 document, and we found no withdrawal of it as of the read date). It defines an ROV as a request from the financial institution to the appraiser to reassess the report based on potential deficiencies or other information that may affect the value. It says it is supervisory guidance that does not have the force and effect of law and imposes no new requirements, so it gives you no new right. Among its examples, a lender may tell consumers how to raise concerns early enough to resolve them before a final credit decision, explain what information to send, set timelines, set rules for when a second appraisal may be ordered and who pays, and tell you the status and result.

FHA loans

In 2024 HUD added a borrower-initiated ROV process to FHA rules, then rescinded it and restored the previous language in Mortgagee Letter 2025-08 (HUD, March 19, 2025, effective immediately, read October 30, 2026). The handbook text now says the underwriter may request a reconsideration of value when the appraiser did not consider information that was relevant on the effective date of the appraisal, and must give the appraiser all relevant data. The appraiser may charge an extra fee if the data was not available on the effective date, but if that is not your fault, you must not be held responsible for the cost. The effective date is the date the appraiser inspected the property (HUD Handbook 4000.1, II.A.3.a.ix, HUD, update issued August 12, 2026).

VA loans

VA’s Lenders Handbook has two steps (Chapter 10, VA, updated August 6, 2026, read October 30, 2026):

Before the report is done (Topic 8, the Tidewater procedure): when the value looks to be below the sales price, the fee appraiser must tell the requester and allow 2 business days for more sales data, such as street address, sales price, date of sale and living area for each sale.
After the Notice of Value (Topic 22, change date March 11, 2019): the Veteran may ask for reconsideration in writing through the regional loan center; market data is encouraged but not required. VA staff review it within 5 business days, may do a field review within 20 business days, and issue an amended Notice of Value if an increase is appropriate.

What to send

Keep it short and factual, in writing, to the loan officer, and keep a copy.

Factual errors in the report, such as the wrong square footage, room count, lot size or a missing feature, with proof.
Comparable sales the appraiser did not use: address, price, sale date, size and why each is a fair match.
Comparables you think do not fit, and why.
If you think race or another protected trait affected the value, say so plainly and ask how the lender handles that kind of complaint.

Example: the gap

This example is only for the math, with example figures, not a real loan or a likely result.

Item	Amount
Contract price	$400,000
Appraised value	$388,000
Gap: $400,000 − $388,000	$12,000
Value if an ROV raised it (example)	$396,000
Gap after: $400,000 − $396,000	$4,000
Change from the ROV: $396,000 − $388,000	$8,000

An ROV may also leave the value the same or lower it. Ask the lender how a gap affects your loan and your down payment.

Where to complain

You can submit a complaint about the lender at consumerfinance.gov/complaint; the CFPB also explains what to do if you think a lender discriminated (CFPB). For housing discrimination, a complaint to HUD must be filed not later than one year after the practice occurred or ended (42 U.S.C. 3610(a)(1)(A)(i), LII); see HUD: report housing discrimination and fair housing and mortgage discrimination. If an appraisal ordered by your servicer, such as one for removing mortgage insurance, has an error, see the servicer error notice. For a legal claim, talk to a lawyer.

Questions to ask the lender

Do you have a written ROV process, and how do I start it?
What information do you want, and by what date?
Who pays if a second appraisal is ordered?
How and when will you tell me the result?

Checklist

Read the appraisal as soon as you get it.
List each error or missing comparable with proof.
Send it in writing to the loan officer and keep a copy.
Ask for the result in writing.
Keep every date; they matter for any complaint.

To find housing counseling agencies that HUD has vetted, use the CFPB housing counselor search.

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Sources

Disclosure: Modern Lending Solutions is not a lender, loan broker or agent for any lender or loan broker, and does not make credit decisions. Any compensation we receive is paid by participating lenders, only for advertising services. This guide is general information, not financial or legal advice.

Appraisal Reconsideration of Value: What to Send and Where to Go