at the time of writing this, yes, despite Fannie Mae/Freddie Mac rulings on using “HVCC” code on Conventional loans where an appraiser is to be picked through a rota system, the USDA has not imposed any such rule. Therefore, Loan Officers get to choose the appraiser in reference to a USDA (Rural housing) zero down loan

2 Responses to “can we pick the appraiser on a USDA home loan?”
  1. JakeHP says:

    the appraiser my Loan officer chose sucks. he went out and picked other houses that were not even similiar to the one we are buying (we are in Nogales , Arizona) and now the seller might tell us to take a hike because he’s saying the value is $7500 less. Can we get a new one ?

    • Administrator says:

      Jake, sorry to hear about your problem with the seller. Feel free to send a copy of the appraisal, for my opinion, for what it’s worth. Go to the “Contact Us” page on this blog and you can upload a PDF. Will get back to you. USDA Loans don’t allow Buyer to purchase a home above the value of the appraisal. In other words, say the Property appraised for $90,000 and the Purchase price is $100,000, you as the buyer cannot bring in the $10,000 downpayment even if you had it.
      (ii) I would definitely also ask your Loan Officer to prepare a rebuttal through the Appraisal Mgmt Co if the appraisal was ordered through one . the Realtors ought to be able to provide other (“better”?) comparable sales (aka ‘comps’).

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