Transferred Appraisals

For loan amounts up to $500,000, an option for a transferred appraisal may be possible. The transferred appraisal, if not originally ordered through the lender, but was for a prior transaction, may be accepted if all the conditions below are met and approved by an underwriter:

• The appraisal is dated within 120 days of closing
• CU score of 2.5 or lower (LCDA score is not considered unless CU did not return a score)
• No multi-families or rural zoning
• The appraisal is certified to, or in the name of, a lender (not the borrower or a broker)
• There is proof of AIR-compliant ordered and completion practices