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VA Loans

What to Know About Virtual Appraisals for VA Home Loans

A new bill may be changing the future of VA home loans in the United States. On May 12, 2022,  bill H.R. 7735 was introduced to the U.S. House of Representatives. Titled “Improving Access to the VA Home Loan Benefit Act of 2022,” its goal is to direct the Secretary of Affairs to update regulations, requirements, and guidance surrounding VA appraisals. The bill proposes several changes to how VA appraisals are conducted and gives guidelines for allowing appraisals to occur virtually. 

Here’s what you need to know about the bill and how virtual appraisals could impact the buying process. 


What’s the Status of H.R.7735?

The bill has been officially approved by the House. However, it is still awaiting approval from the Senate. If the bill is approved by the Senate, it will be sent to the President who must also approve it in order for it to become law. You can stay up to date on the status of H.R.7735 by following along on 


What Does H.R.7735 Say about Virtual Appraisals?

H.R.7735 is asking the Secretary of Veterans Affairs to provide guidance on the matter of virtual appraisals. Subsection C, titled “Desk Top Appraisals,” states:

“In prescribing updated regulations or program guidance under subsection (a), the Secretary shall provide guidance for the use of the authority under section 3731(b)(3) of title 38, United States Code, taking into consideration—

(1) situations in which the use of such authority would provide for cost savings for the borrower; and

(2) situations in which a traditional appraisal requirement could cause a delay substantial enough to jeopardize the ability of a borrower to complete a transaction.”


Potential Benefits of Virtual Appraisals for VA Loans

In the past couple of years, there has been a high demand for VA appraisals. However, in certain geographical areas, there has been a limited number of individuals available to perform the job. This has resulted in delays to the purchasing process as well as an increase in cost for borrowers. 

Virtual appraisals could help eliminate some of these issues and make the VA home loan process smoother moving forward. Some of the potential benefits of allowing desktop appraisals include:

  • Cost savings: Allowing appraisals to be conducted virtually could help buyers save money. Not only could it eliminate travel expenses, but it could also allow appraisals to be conducted by professionals located outside of the immediate area. 
  • Timely closings: Virtual appraisals could improve turnaround times. This could prevent transactions from being put at risk due to an appraisal delay. 


Get More Information

If you’re interested in learning more about virtual appraisals for VA home loans or have questions about the buying process in general, we’d be happy to help. Call now to get in touch!