Appraisal Waivers in Texas: When You Can Skip the Appraisal
Roughly one in three financed purchase loans now closes without a traditional in-person appraisal, a quiet shift driven by the automated valuation models that Fannie Mae and Freddie Mac run on millions of past sales. With the 30-year fixed averaging 6.47% the week ending June 18, 2026 (Freddie Mac PMMS), every few hundred dollars in appraisal cost and every extra day of timeline matters to a Texas buyer. An appraisal waiver can save both. It is not automatic, and it is not always the right call, so here is how I explain it to clients.
I am Anthony Ferrando, and I originate Conventional, VA, and FHA loans across Texas. Appraisal waivers come up most on conventional loans, and understanding when you qualify can shave time and money off your close.
Key points:
- An appraisal waiver (also called a value acceptance) is an offer from Fannie Mae or Freddie Mac to skip the traditional appraisal and accept the contract price or a model-based value.
- Waivers are most common on conventional loans with a lower loan-to-value (LTV) ratio and a strong automated underwriting result.
- A waiver can save the roughly $500 to $700 appraisal fee and cut several days off your timeline.
- You cannot request one directly; it is generated through the automated underwriting system when your file qualifies.
- Waivers are rare on jumbo loans, most FHA and VA purchases, unique properties, and high-LTV files.
- Skipping the appraisal means giving up an independent check on value, which is worth weighing in a shifting market.
What is an appraisal waiver and how do you get one?
An appraisal waiver is an offer to close your loan without ordering a full appraisal, using property data and recent comparable sales that Fannie Mae or Freddie Mac already have on file. The lender runs your loan through the automated underwriting system, and if the property, your down payment, and your credit all line up, the system returns a waiver offer. You do not apply for it. It either appears for your file or it does not.
The factors that help most are a strong credit profile, a lower LTV (a larger down payment or more equity), and a property with reliable recent sales data, which usually means a standard single-family home or a warrantable condo in an established Texas neighborhood. A unique rural property or a home with few comparable sales is far less likely to get a waiver because the models have less data to lean on.
Appraisal waiver vs. traditional appraisal
Here is how the two paths compare on the things buyers care about. The right choice depends on the property and how confident you are in the price.
| Factor | Appraisal waiver | Traditional appraisal |
|---|---|---|
| Cost | $0 | ~$500 to $700 in Texas |
| Timeline | Saves several days | Adds a week or more |
| Independent value check | None; relies on model data | Licensed appraiser inspects the home |
| Best for | Lower-LTV files, standard homes, strong credit | High-LTV files, unique homes, uncertain price |
| Common loan types | Conventional | FHA, VA, jumbo, high-LTV conventional |
A buyer in San Antonio I worked with recently had 25% down on a standard suburban home with plenty of comparable sales nearby. The waiver came back automatically, and we saved both the fee and about a week of waiting. On the flip side, a client buying an unusual acreage property near Fredericksburg did not get a waiver, and honestly that was fine, because the appraisal protected him from overpaying on a home with almost no direct comps.
Should you take an appraisal waiver if you get one?
Usually yes, but not always. A waiver saves money and time, and on a standard home in a stable Texas market the model-based value is typically reliable. The trade-off is that you give up an independent professional opinion of value. In a market where prices are flat or softening, an appraisal can be a useful guardrail against paying more than a home is worth. If you have any doubt about the price, or you are buying a property that is hard to compare, ordering an appraisal anyway can be money well spent.
For most buyers putting a healthy amount down on a conventional loan, a waiver is a clean win. I walk through the specific property with each client so the decision fits the home and the market, not a blanket rule.
Do FHA and VA loans offer appraisal waivers?
Generally no. FHA and VA loans almost always require their own appraisal, performed by an appraiser approved by HUD or the VA, because those agencies have minimum property standards the appraiser has to confirm. The appraisal waiver programs are a feature of conventional loans backed by Fannie Mae and Freddie Mac. There have been limited reuse provisions on prior FHA and VA appraisals in certain refinance situations, but for a typical purchase you should plan on a full appraisal with an FHA or VA loan. If skipping the appraisal is a priority, that is one more factor to weigh when choosing your loan type.
Frequently Asked Questions
How much does an appraisal waiver save me?
A waiver saves the appraisal fee, which typically runs about $500 to $700 for a standard home in Texas, and it can cut several days off your closing timeline by removing the wait for an appraiser to inspect and report. On complex properties the fee can run higher, so the savings can be larger.
Can I ask my lender for an appraisal waiver?
You cannot request one directly. The waiver is generated by Fannie Mae’s or Freddie Mac’s automated underwriting system when your loan file qualifies, based on the property, your down payment, and your credit. Your lender submits the file; the system either returns a waiver offer or it does not.
What makes me more likely to get a waiver?
A lower loan-to-value ratio from a larger down payment, strong credit, and a standard property with plenty of recent comparable sales all help. Conventional loans on established single-family homes and warrantable condos are the most common candidates. Unique or rural properties with few comps are much less likely to qualify.
Is it risky to skip the appraisal?
The main risk is giving up an independent check on the home’s value. On a standard home in a stable market, the model-based value is usually reliable. In a flat or softening market, or on a hard-to-compare property, a traditional appraisal can protect you from overpaying, so weigh the property and your confidence in the price.
Do appraisal waivers apply to jumbo loans?
Rarely. Appraisal waivers are a feature of conforming conventional loans backed by Fannie Mae and Freddie Mac, and the 2026 conforming limit is $832,750 in most of Texas. Loans above that are jumbo loans, which follow individual investor guidelines and almost always require a full appraisal, sometimes two.
Can I still get a waiver on a refinance?
Yes, refinances are actually a common place to see appraisal waivers, especially rate-and-term refinances with solid equity. The same automated system evaluates the file. Note that Texas cash-out refinances under Section 50(a)(6) have stricter rules and frequently require a full appraisal regardless.
Wondering whether your purchase might qualify for an appraisal waiver? Reach out and let’s look at the property and your numbers together. I will tell you honestly whether a waiver is likely and whether it is the right move for your situation. Reach out here to start the conversation.
For more, see my guide to conventional loan down payment options, my breakdown of jumbo loans and the 2026 conforming limit, and current conditions on my Texas housing market page.
Anthony Ferrando | Mortgage Loan Originator | NMLS# 1919613 | Ferrando Financial LLC NMLS# 2403080 | Licensed in Texas. This is not a commitment to lend. Loan approval is subject to credit, income, and property qualifications. Appraisal waiver eligibility is determined by Fannie Mae and Freddie Mac automated systems and is not guaranteed. Any rate cited (Freddie Mac PMMS, week ending June 18, 2026) is illustrative, not a quote. Equal Housing Lender.
