Yes. If a home appraisal for your mortgage comes in below the purchase price, you can ask your lender for a reconsideration of value (ROV). The request is strongest when it identifies specific, verifiable errors or relevant information the appraiser may have missed—not when it simply asks for a higher number. An ROV can take time and may not change the value, so address your financing and contract deadlines at the same time.
What challenging an appraisal means
A buyer’s formal route is to raise concerns with the mortgage lender and ask it to review the appraisal through its ROV process. The lender manages that channel; an ROV is not a direct demand that the appraiser match the offer price. The Consumer Financial Protection Bureau (CFPB) says consumers can ask a lender to reconsider a valuation they believe is inaccurate (CFPB, October 6, 2022).
Whether and how you can submit a request depends on your loan program and lender. For example, Fannie Mae’s April 2026 Selling Guide requires a process disclosure with the appraisal and allows one borrower-initiated ROV per appraisal for loans covered by those requirements (Fannie Mae Selling Guide). Do not assume that rule applies to every mortgage.
How to request a reconsideration
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Get the appraisal and check the deadlines
Ask your loan officer for the appraisal report if you do not have it, and request the lender’s written ROV procedure. For typical first-mortgage residential loans, the CFPB says borrowers are entitled to copies of appraisals and other valuations the lender receives, generally no later than three days before closing. A copy itself cannot carry a fee, although a reasonable fee for preparing a valuation may be charged. Confirm how these requirements apply to your transaction (CFPB Regulation B, § 1002.14).
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Ask when the lender needs your request and when it expects to respond. The timing matters: Freddie Mac’s servicing guidance, effective September 3, 2025, says an ROV is no longer permitted after loan closing (Freddie Mac Servicing Guide). That is a program-specific guide, not a universal rule for every loan.
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Review the report for checkable problems
Check details such as square footage, room count, condition, and features against reliable property records or other documentation. Look at the comparable sales the appraiser used and whether they appear relevant to the home and its local market. Note any material factual error, omission, or relevant sale that may not have been considered.
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Write a focused, documented request
List each concern separately, give the corrected information, and explain why it could matter to the value. Attach supporting records where available. If you identify additional comparable properties, explain why each is relevant rather than merely listing homes that sold for more. CFPB and interagency guidance identify factual errors, omissions, inadequate comparables, new comparable properties, and property information that was incorrectly reported or not considered as issues a borrower may raise (CFPB Circular 2024-03).
There is no universal number of comparable sales or single nationwide ROV form established by that guidance. Follow your lender’s instructions, and focus on evidence—not a target value or the fact that the appraisal differs from your offer.
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Send it through the lender
Submit the request using the lender’s process, and keep a copy of what you sent and when. Ask the loan officer whether anything else is needed and how a pending review affects underwriting and the scheduled closing.
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Keep the transaction moving while you wait
Discuss the appraisal, financing, price, and contract deadlines with your lender and real-estate agent. If you may need to renegotiate or use an appraisal contingency, check the contract’s notice requirements and dates promptly.
What makes an ROV request more useful
- Specific facts: Identify the report entry you believe is wrong and provide a source for the correction.
- Relevant property information: Point to a feature, condition, or other characteristic that was omitted or inaccurately described, with documentation where possible.
- Comparable sales with a clear rationale: Explain why a sale is relevant to this property and its market; a higher sale price alone does not establish that it is a suitable comparison.
- A possible bias concern, stated concretely: If you believe prohibited bias may have influenced the appraisal, explain the concern and any supporting information rather than relying on a general accusation.
The lender’s process and applicable loan rules govern review and resolution. A correction or additional comparable may be considered without changing the final opinion of value.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What a low appraisal can mean for your financing
If the appraisal is below the purchase price, the lender may approve a smaller loan than you expected or may not approve the requested amount. That can leave a gap between the financing available and the amount you agreed to pay. Consider the practical choices alongside the ROV:
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| Option | What to weigh |
|---|---|
| Request an ROV | Useful when you can point to a specific error, omission, relevant sale, or other material information. It does not guarantee a higher appraisal, and timing depends on the lender and loan rules. |
| Ask the seller to reduce the price | A lower price can reduce the gap, but the seller does not have to agree. The CFPB describes price negotiation as an option when an appraisal is below the agreed price (CFPB: What happens if the appraisal is lower than the sales price?). |
| Bring additional cash | Ask the lender to calculate the additional funds needed if the loan is based on the lower valuation. Consider whether proceeding at the agreed price makes financial sense for you. |
| Use a contract option, if available | Check whether your signed contract has an appraisal contingency, what it requires, and when you must act. Cancellation rights and potential costs depend on the contract and circumstances; consult a local real-estate attorney if they are unclear. |
These options can be considered together. Ask the lender how the appraisal affects your loan, and check with your agent or attorney before making a contract decision. The CFPB notes that an appraisal may be strong evidence the agreed price is above market and advises buyers to consider negotiating; if a seller will not reduce the price, cancellation may be an option, but the contract controls potential costs (CFPB).
Which rules apply to your loan?
ROV policies are not identical across lenders and loan programs. The CFPB’s 2024 interagency document describes guidance for institutions’ ROV policies and procedures; it is guidance, not a statute or regulation (CFPB Circular 2024-03). In December 2025, the CFPB reported that it had withdrawn 67 guidance documents in May 2025; that figure covers agency guidance generally, not ROV guidance alone (CFPB 2025 Fair Lending Report).
For a buyer with an active purchase, the practical step is to get the lender’s current procedure and confirm the rules and deadlines for the specific loan before closing.
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