Short answer
Sometimes, on a conventional loan. Fannie Mae and Freddie Mac's automated underwriting systems can offer an appraisal waiver (Fannie Mae calls it value acceptance) when they already have enough reliable data on the home's value. You can't simply request one: the system offers it or doesn't, and the lender decides whether to use it. FHA, VA and USDA purchase loans generally need an appraisal.
How does an appraisal waiver work?
When your loan runs through Fannie Mae's or Freddie Mac's automated underwriting, the system compares the price or estimated value with its own data, often including a past appraisal of the same home. If it's confident in the value, it may offer to accept it without a new appraisal. Some offers instead need a property data collection, where a trained person visits and records the home's features, which is less than a full appraisal.
Which loans can get one?
Waivers are mostly offered on conventional loans for one-unit homes, including some condos, for purchases and refinances. Each program sets its own limits, and many loans won't get the offer, such as new construction or homes with no useful past data. FHA purchases need an FHA appraisal, though an FHA streamline refinance generally doesn't. VA and USDA purchases need appraisals too.
What are the pros and cons?
A waiver can save the appraisal fee and some time. The tradeoff is that no appraiser looks at the home, so you lose an independent check on value and condition. If you're unsure whether the price is fair, an appraisal can still be worth it, and the lender may order one anyway. Either way, a waiver isn't a home inspection: book your own inspection. See what happens when an appraisal comes in low.
Does a waiver change anything for New Hampshire homes?
Homes with private wells, septic systems or unusual features may be less likely to get an offer, and some loan programs still want water or septic tests whatever the appraisal decision. See the well and septic guide.
Sources
- Fannie Mae Selling Guide B4-1.4-10, Value Acceptance (Appraisal Waiver)
- Fannie Mae, Value acceptance
- Freddie Mac, Automated Collateral Evaluation (ACE) fact sheet
Checked November 2, 2026. Rules and dates change, so confirm current details before you rely on them.
General information only, not tax or legal advice. Program availability, eligibility and terms vary by lender and are subject to change and to underwriting approval. Not a commitment to lend.