In general, this is a positive appraisal result. It means the appraiser’s opinion of value supports the purchase price, the property is reported as conforming to the neighborhood, and the appraiser did not call out required physical repairs. The lender still has to complete the rest of its review, but this type of appraisal result usually removes one common hurdle in the mortgage process.
Back to FAQ
What does it mean when the appraisal comes in at or above the purchase price and no repairs are required?
These answers are educational only and are not individualized financial, legal, or mortgage advice. Programs, rates, and guidelines change and vary by situation — talk with Tara Ryan, Loan Officer, NMLS #233792, for guidance specific to your scenario.
Have a mortgage question of your own?
Tara Ryan and the team answer real client questions every week.