How long does appraisal take?

We cleared up the inspection contingency on Wednesday, and my agent gave the lender the PA Thursday. How long does it generally take to get an appraisal? We're in a hurry to catch these great rates before they disappear.

Appraisal timelines vary based on location, lender, volume (when rates drop and a ton of people apply, the appraisers get a little backed up), and the type of loan you are getting (requiring different processes on the appraisal order).

In my area, they are taking anywhere from 3 days to 3 weeks, but if you tell us which area of the country you are in, you may get some more specific feedback.

I have heard horror stories due to HVCC but i would estimate about a week from start to finish.  If you are using one of the larger lenders then it could take longer due to processing times.

Peka,

All the above information is true, but something to keep in mind is, if your home is the biggest on the block or difficult to find comparable sales that will add a few days.  Keep in touch with your loan officer and ask him if he recievedany updates?  He should receive them by e-mail.

Voyage Home Loans

Mike Kim