VA Appraisal Process EXPLAINED!! (BY A VA APPRAISER)

Jimmy Vercellino - MLO Specializing in VA Loans

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#valoans #preapproval #realestate
If you've ever wondered how the VA Appraisal works here is your chance to hear directley from a VA Appraiser!
My hope and goal is this video helps to inform, empower, and educate Veterans and Real Estate Professionals.
Serving Veterans is my civilian MOS! Need a mortgage or want to discuss your scenario? We are licensed and serving Veterans in 48 states for purchase and refinances.
Here is how to contact me:
1. Check your eligibility and receive a personalized evaluation of your VA Loan: connect.valoansforvets.com
2. Email me at jimmy@valoansforvets.com
3. Call me 602-908-5849
Instagram- / jimmyv____
Facebook- / valoansforvets
Jimmy Vercellino, Mortgage Loan Originator/Regional Residential Mortgage Director NMLS 184169 at First Western Trust
Corporate NMLS 477166
This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Equal Housing Lender.
3602 E Campbell Ave, Phoenix, AZ 85018
Equal Housing Lender- For licensing, go to www.nmlsconsumeraccess.org
Top 1% VA Lenders in the Nation
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MUST WATCH! Actual VA Appraiser Interviewed: Jimmy goes one-on-one with Jay Joseph's, a licensed VA appraiser.
#vaappraisal #vaappraiser

Опубликовано:

10 июл 2022

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Комментарии : 75

@JimmyVercellino 2 года назад

0:44 -- What Veterans are told about VA Home Loan Appraisals 1:32 - Jay explains the VA Appraisal process as a whole 2:44 - How long does a VA Appraisal take? 4:22 - How do VA Loan Appraisals compare to FHA and Conventional Appraisals? 5:58 - VA Loan Appraisal Process is Better than Conventional & FHA Appraisals 6:08 - VA Tidewater Process 7:58 - Realtors should more comfortable using VA Appraisals 9:08 - Reconsideration of Value ‘ROV’ 11:00 --VA Minimum Property Requirements - ‘Chipping Paint’ ‘Electrical Plates’ Things that can get called out on a report 15:45 --VA Appraisals and Pool Requirements 17:03 -Jay talks to Veterans about where the market is headed and what expects to see in the future 19:06 - Jimmy talks about the ‘New Normal’ in the market and what that means for Veterans and VA Loans 20:12 - Real Estate Values have always gone UP

@Ryan04ism Год назад

I just went under contract for a new home its my first home and the seller paid the 12k closing cost so I had to bring nothing to the table when closing comes which is great. this channel has helped me out to get through the process without fear

@JimmyVercellino Год назад

This brings me great joy to hear Ryan! Congrats on your new home and sucessfully negotiating 12K in seller concessions! That's a really big deal!

@Ryan04ism Год назад

@@JimmyVercellino i contribute that to watching your videos

@bon2198 9 месяцев назад

Another huge benefit to a VA appraisal is that appraisal sticks with the property for 6 months. That also covers FHA. so, if your appraisal comes in low, the seller is leveraged to deal with the buyer because if not, they are pretty much forced to only go with conventional.

@JimmyVercellino 9 месяцев назад

Thanks for the comment! You're right. This used to be the case as VA appraisals would say "to any qualified veteran" now there in the name of the Veteran so any veteran can go into a home and get a new VA appraisal.

@vincentseman8008 Год назад

I stumbled upon your channel recently and subscribed. Your videos are informational and really great to see someone has a strong focus in helping veterans. Thank you!

@JimmyVercellino Год назад

I appreciate that! Here to answer any questions you may have!

@nayibdumar6849 10 месяцев назад

Dude you’re the best resource on RU-vid thus far. I appreciate your channel tremendously. Semper Fi

@JimmyVercellino 10 месяцев назад

Semper Fi brother! I appreciate you.

@phuong_TL 2 месяца назад

I learned so much!. Thank you for educating us!

@JimmyVercellino 2 месяца назад

Glad it was helpful!

@Karlostorres1994 Год назад

Great video, thanks Jimmy

@JimmyVercellino Год назад

Glad you enjoyed it

@BrendanDennyhvac Год назад

Great video! Thank you from Connecticut!

@JimmyVercellino Год назад

Appreciate that Brendan!!

@wesalmeidarestorations8128 Год назад

Great video of some really useful info. Thanks for your support.

@JimmyVercellino Год назад

Glad it was helpful!

@geoffr72 5 месяцев назад

Thank you so much for doing this!!

@JimmyVercellino 5 месяцев назад

💪💯

@joijoi617 4 месяца назад

1:05 we are targeted

@Brad_Surfs_ILM Год назад

Good to go. Thanks for looking out for Doc.

@JimmyVercellino Год назад

You got it Doc -- Jimmy

@user-ce3cw3vb9y 10 месяцев назад

Im currently going through a purchase had a few questions on appraisers. All of them was answered thanks. ❤

@JimmyVercellino 10 месяцев назад

That's what I'm talking about! So happy to hear that. Blessings!

@Dee_Znutz_00 Год назад

Great video! I've been looking for something like this since I was told that mortgage lenders don't like VA loans because the appraisals are so stringent.

@JimmyVercellino Год назад

Glad it was helpful! Don't let them get away with that nonsense!

@wesalmeidarestorations8128 Год назад

And thank you for your service

@JimmyVercellino Год назад

Thank you Wes!

@Operation3Sixty 6 месяцев назад

The VA appraisal has made me nervous about this process becoming ive heard they are very strict. But this video has made me feel more positive about it

@JimmyVercellino 6 месяцев назад

Love it!!

@thisfloridagirl5280 Год назад

How do you not have more views?

@JimmyVercellino Год назад

💪💯❤️

@thisfloridagirl5280 Год назад

@@JimmyVercellino are you licensed in Florida? I need help

@JimmyVercellino Год назад

@@thisfloridagirl5280 yes - we’re licensed to lend in FL and I can personally assist.

@GreigRodriguez Год назад

Came across this channel by chance. Can’t appreciate your information enough. We are in the process of purchasing a home in GA. I am a little concerned (and the seller too) that the driveway is gonna fail the appraisal. What’s your experience with having a driveway cause a lender/seller to back out?

@JimmyVercellino Год назад

Happy you found me Greig!! Tell me more about the driveway?

@jonparker4108 Год назад

Hi. What if the veteran is wanting to buy a home that is a little bit of a fixer upoer. Say needs paint or drywall, maybe floor or roof needs some work. Is the veteran going to be turned down on a home loan via a bad appraisal for these kinds of things?

@JimmyVercellino Год назад

Hi Jon! Thanks for the comment. Not necessarily. VA will be looking to ensure that the property is safe, sound, and secure. As long as you check those 3 boxes you will not have any issues.

@user-dv2hg5ns9c 11 месяцев назад

I have a question for Jay, how does a VA appraiser go about an appraisal for a home that has a private spring water system that is the only means of water to the home?

@JimmyVercellino 11 месяцев назад

That's a good question. I would actually have you reach out to the VA directly for that type of question. You can email 'cvgc.vbapho@va.gov' CVGC.vbapho@va.gov

@farmboi6376 2 года назад

My debt to income ratio isn't great but I own alot of assets and real estate with no mortgages. I want to refinance a house I have in my llcs name for a primary residence. The house is worth 375k to 400k and I'm looking to get about 300k in the refinance and then pay off the hard money loan (175k) with the refinance . Any advice or thoughts? Thanks Jimmy great video!

@JimmyVercellino 2 года назад

Hey Farm Boi - That sounds like that could possibly be done. I would need to learn more about your scenario by reviewing tax returns among other items. Best thing to do would be to contact my office at 602-908-5849 along with emailing me at jimmy@valoansforvets.com

@betoo0311 2 месяца назад

I just got a regular appraisal, how could I get someone like out in SoCal to appraise my house ? Thanks in advance for the intel. Been a great value .

@JimmyVercellino 2 месяца назад

Happy to hear. VA will assign a contracted appraiser to appraise the home.

@pbendler Год назад

What about homes that have non permitted additions.

@JimmyVercellino Год назад

Good question. The appriaser will not give non permitted addtions any value.

@tishanekerr3149 Месяц назад

Hi Jimmy, amazing video, it was very informative! I do have a question for you. Do VA loans still get approved for the pre approved loan amount if the appraisal comes in at or above that value but less than the overall purchase price of the home? I know for conventional loans, it’s a situation where the buyer would need to cover the difference, renegotiate the price or walk away. However I am getting conflicting information regarding VA loans that the loan will not be approved even if the appraisal is higher than the pre approved loan amount but less than purchase price for the property. I would really appreciate your feedback, thanks so much.

@JimmyVercellino Месяц назад

Hi Tisha - great question. So here's the deal the lender will only approve the purchase price, or appraised value, (whichever is less). If there is a shortfall the Veteran does have the option to cover the difference.

@tishanekerr3149 Месяц назад

Thank you very much for this

@kimmi608019 Год назад

Hi, when does the appraisal comes in? During the purchase process or after? Because, if there are some things that need to be addressed , we need a frame time. Thanks

@JimmyVercellino Год назад

Hello Jose, the appraisal comes in durning the escrow process typically within 7-10 business days after order. This should give you time to address any would be issues with the appraisal in advance of your closing. Please let me know if I can answer any other questions.

@loganhoffman3218 2 года назад

My VA appraisal has taken over 30 days since it was started. I’m trying to get information from lender but they are saying sometimes it takes this long. What should I do?

@JimmyVercellino 2 года назад

I would contact that VA Logan. Where are you located? Try reaching out to the VA direct at this email cvgc.vbapho@va.gov

@myobmyob2215 8 месяцев назад

So if the property is not up to snuff does this stop the buyer or the seller or both? EX How could a vet buy a homestead with a VA loan if it's neglected/abandoned/needs work, is there another way? Thanks

@JimmyVercellino 8 месяцев назад

Hi - if there are VA repairs needed those will always need to be cleared prior to moving forward.

@JLMorales4 2 года назад

How early in the process of construction(meaning before completion) can the Va appraiser do the actual appraisal?

@JimmyVercellino 2 года назад

Hello Jorge, good question. Typically once they have the plans, renderings, schematics, and bid they should be able to appraise the property on a TBD format.

@JLMorales4 2 года назад

@@JimmyVercellino jimmy thank you for answering my question.

@joijoi617 4 месяца назад

1:55 Joseph’s appraisal group

@JimmyVercellino 4 месяца назад

He's the man!

@emmettross940 10 месяцев назад

How much generally is cost of VA appraisal and for an ROV VA appraisal in Texas circa 2022-2023. And is there a time limit to request an ROV from the time of receiving a totally poor appraisal.

@JimmyVercellino 10 месяцев назад

Good question, VA appraisal will typically vary from state to state. I would anticipate you would be around $600.00 or so. You'll want to request the ROV asap and not delay that.