How Long Is a Home Appraisal Good For? Loan Rules Explained

You finally got the home appraised. The number looked good, the paperwork was filed, and then life happened. Maybe your buyer hit a delay, your refinance got held up, or you’re just now circling back to the process. And now you’re wondering: is that appraisal still valid?

The short answer is, it depends. Appraisals don’t last forever. In fact, some expire in as little as 90 days. And if the housing market’s shifted or your loan type has specific rules, you could be starting over sooner than you’d think.

In this guide, I’ll break down how long an appraisal lasts, how expiration works for different loan types, and what your options are if that clock has run out. Plus, I’ll share some personal insight into what really matters when you’re racing against the appraisal timeline.

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What Is a Home Appraisal, and Why Does Validity Matter?

A home appraisal is a professional opinion of what your home is worth today. A licensed appraiser visits the property, studies recent sales, and writes an appraisal report your lender uses to decide how much they’re willing to lend.

The key word is today. An appraisal is a snapshot, not a lifetime guarantee. It reflects your home’s value at a specific moment in time, based on the market and nearby comparable sales. As the market moves, that snapshot gets stale.

For most mortgages, an appraisal is required because the lender wants proof the home is worth at least the amount you’re borrowing. They’re not just protecting you, they’re protecting themselves if something goes wrong and the loan isn’t repaid.

Inside the report, the appraiser notes your home’s size, layout, condition, upgrades, and any issues that might drag down value. Then they compare it to similar homes that recently sold and adjust for differences like extra bedrooms, a new roof, or a bigger lot.

That’s why validity matters so much. If too much time passes, those “recent sales” aren’t recent anymore. Your lender may decide the appraisal is no longer reliable, and you can’t use it to close, refinance, or switch to a different type of loan.

When you’re planning a purchase or refinance, thinking about how long that appraisal stays usable can save you money, stress, and sometimes even the deal itself. Timing isn’t everything, but with appraisals, it’s close.

General Rules: How Long Is an Appraisal Good For?

There’s no one-size-fits-all answer, but most home appraisals are valid for 90 to 180 days, depending on your lender and the type of loan you’re using. Some government-backed loans allow updates or extensions, while others require a brand-new appraisal once that window closes.

Here’s the tricky part: even if your appraisal is still technically “valid,” your lender might still reject it. That’s because what matters isn’t just the age of the appraisal report, but whether it still reflects the current market. In fast-moving markets, three months can feel like a lifetime.

Also, different lenders start the clock at different times. Some go by the appraisal order date, others count from the date it was completed, and FHA loans use something called the case number assignment to trigger the timer. If you’re refinancing, your lender may allow a slightly longer window, but it’s never open-ended.

Here’s the safe rule: always confirm the expiration date directly with your lender. Don’t assume an appraisal from last season will still work. And if you’re selling, know that a delay in closing could send you back to square one.

It’s not about fairness, it’s about risk. Lenders don’t want to rely on old data when they’re putting up hundreds of thousands of dollars. So if the market’s moved, even a recent appraisal might not cut it.

How Long Appraisals Last by Loan Type (With Table)

Appraisal rules aren’t universal. They change based on the type of loan you’re using, Conventional, FHA, VA, or USDA. Each program sets its own validity period, plus conditions for when you can extend or update an expired report.

Below is a breakdown of how long an appraisal typically lasts by loan type, including options for updates or recertification:

Loan Type	Valid For	Extension Allowed?	Update Allowed?	Notes
Conventional (Fannie/Freddie)	~120 days	No	Yes (up to 30–60 days)	Requires no major change in market or home condition
FHA (Federal Housing Administration)	120 days	Yes (30-day extension)	No (recert only if under contract)	Clock starts with case number assignment
VA (Veterans Affairs)	180 days	Yes (in some cases)	Yes	Longest standard validity; can be reused in refis
USDA (Rural Loans)	120 days	Sometimes	Case by case	Appraisal must match buyer on file, no reusing

Conventional Loans (Fannie Mae & Freddie Mac)

With a conventional mortgage, your appraisal is generally valid for 120 days. If you close within that window, no problem. But if you’re cutting it close, lenders can sometimes accept an update if the appraiser reviews recent comparable sales and confirms no big changes.

There’s no formal extension, so if the update window passes, you’ll likely need a new appraisal, even if your home hasn’t changed a bit.

FHA Loans (Federal Housing Administration)

FHA loans are stricter. The 120-day countdown begins when the case number is assigned, not when the appraisal is done. If you’re under contract and nearing expiration, you may get a 30-day extension, but only if you’re actively working to close.

If the deal falls through or you delay too long, you’ll need a fresh appraisal, even if the last one was perfect.

VA Loans (Veterans Affairs)

VA appraisals last longer, 180 days from the appraisal date. That gives you more breathing room to close or refinance. You can often request an update if market conditions haven’t changed, though extensions are reviewed on a case-by-case basis.

If you’re refinancing with a VA loan, the original appraisal might still be usable, but your lender will make that call.

USDA Loans (Rural Housing)

USDA loans follow similar rules to FHA: appraisals are valid for 120 days. Extensions or updates might be possible, but it depends on your lender and the status of the transaction. One key difference: USDA appraisals are tied to a specific buyer. You can’t reuse it for someone else if your first deal falls through.

Why Appraisals Expire (Even if the Home Hasn’t Changed)

It’s easy to think that if your home looks the same, your appraisal should still count. But lenders don’t just care about the house, they care about the market around it. And that market can change fast.

The most common reason an appraisal expires is time. Once it’s beyond the allowed window, say, 120 or 180 days, it’s considered outdated, no matter how accurate it felt when it was done. Lenders rely on recent comparable sales, and if those sales are no longer recent, the valuation becomes less reliable.

But expiration can also happen before the deadline if certain conditions shift. If interest rates spike, housing inventory drops, or buyer demand shifts in your area, the appraisal might no longer reflect today’s reality. Lenders may push for an appraisal update or a full reappraisal even if the old one hasn’t technically “expired.”

Another reason? The deal itself changed. If you’re switching loan types, adjusting your offer, or re-entering the market with a new buyer, the lender may reject the old appraisal, even if it’s still within the allowed timeframe.

The big picture: an appraisal isn’t a forever document. It’s a time-sensitive risk tool, and when things change, whether in the home, the loan, or the market, it can lose its value fast.

What to Do If Your Appraisal Expires

If your appraisal has expired, or you’re close to that deadline, you’ve got three main options. What you choose depends on how much time has passed, how stable the market is, and what your lender allows.

1. Appraisal Update

This is the lightest lift. The original appraiser reviews new comparable sales to confirm that the home’s value still holds up. No new site visit is required, and if approved, this update extends the appraisal’s usefulness, usually by 30 to 60 days.

But keep in mind: not all lenders allow this, and the appraiser must verify that no major market shifts or property changes have occurred.

2. Recertification of Value

This option is more formal but still avoids a full reappraisal. It’s often used for FHA loans if the home is under contract when the appraisal expires. The appraiser essentially confirms the same valuation still applies, without redoing the entire report.

It’s only allowed under strict conditions: no structural changes, no obvious damage, and no sales in the area that would shift value.

3. New Appraisal

If too much time has passed, or if the market’s changed, you’ll need to start over. That means paying for a new appraisal and scheduling another site visit. It’s more costly, but sometimes it’s the only way to move forward.

This is often the case when you’re using a different loan type, switching lenders, or re-listing the home after a deal falls through.

Pro Tip: If you’re within a few weeks of expiration, ask your lender early what’s possible. Waiting until the last minute often means fewer options and more delays.

How Much Does It Cost to Re-Appraise, and Who Pays?

If your appraisal expires, the first question you’ll probably ask is, “Do I really have to pay for this again?” And the short answer is, usually, yes.

A new appraisal typically costs between $300 and $600, depending on your location, the size of the home, and how busy the market is. Rural properties, unique homes, or large estates might cost more because they require more time and analysis.

If you’re only doing an update or recertification, the fee may be lower, think $100 to $200, but only if your original appraiser is available and the lender allows it. Not all lenders accept updates, and not all appraisers are willing to re-certify older valuations.

So, who pays?

In most cases, you do, whether you’re the buyer, the seller covering closing costs, or the homeowner refinancing. Lenders generally don’t cover this fee, even if a delay on their end caused the expiration. It’s considered part of your loan process, just like credit checks or title searches.

That said, in a few situations, a motivated seller might offer to pay for a second appraisal to keep a deal moving, especially if the market’s cooled or the first buyer fell through.

One more thing: appraisal fees are almost always non-refundable. Even if your lender ends up rejecting the report or switching programs, you’re still on the hook for the cost.

Appraisal vs. CMA vs. Home Inspection, Know the Difference

It’s easy to confuse these terms, appraisal, CMA, and home inspection, but each serves a different purpose, and only one is lender-required. Knowing the difference can save you time and prevent costly mistakes.

Appraisal

This is what your lender orders. A licensed appraiser provides an unbiased, professional opinion of your home’s market value, based on comparable sales, local trends, and the condition of your property. It protects the lender by confirming the home is worth the amount you’re borrowing. You usually pay the fee, even though the appraisal isn’t for your benefit directly.

CMA (Comparative Market Analysis)

A real estate agent prepares this, usually for free, when you’re thinking of listing your home. It’s a side-by-side look at similar homes in your area that recently sold, are pending, or are currently on the market. A CMA helps you price your home, but it’s not official and has no weight with lenders.

Home Inspection

This is a separate report ordered by the buyer, not the lender. A home inspector checks for issues like plumbing leaks, roof damage, or outdated wiring. It doesn’t assess value, it just tells the buyer whether the home’s condition is sound.

Here’s a quick way to remember it:

Tool	Purpose	Who Uses It?
Appraisal	Determines market value	Lender
CMA	Estimates list price	Agent & Seller
Home Inspection	Checks home condition	Buyer

Each plays a role, but only the appraisal affects your ability to finance or refinance a home. So if yours is expired, the CMA won’t save you, and neither will a clean inspection report.

Reilly’s Two Cents

I’ve worked with plenty of sellers who hit a wall because their appraisal expired at the worst possible time, usually right before closing. It’s one of those small details no one warns you about until it causes a big problem.

When you’re selling a home, especially in a shifting market, timing is everything. An appraisal might feel like just another box to check, but it’s actually one of the most time-sensitive steps in the process. You’ve got a narrow window where that number holds weight, and if your deal takes too long, you might be stuck paying for a second round.

Here are a few tips I share with my clients when we’re working around this issue:

• Ask your lender early: Don’t wait until the appraisal is ordered, ask when it will expire and whether they allow updates or extensions. Not all lenders do.
• Plan backward from your close date: If your appraisal’s good for 120 days, try to schedule it no more than 45 to 60 days before closing. It gives you room for delays but keeps the report fresh.
• Keep tabs on the market: If comparable homes in your neighborhood start selling for more (or less), your appraisal value might shift too, even before the expiration date.
• Have a backup plan: If your deal stalls, consider whether a cash offer could move things along. Services like iBuyer can often bypass the traditional appraisal process altogether, making the timeline less of a worry.

Appraisals aren’t something you can control, but how you prepare for them can make all the difference. Trust me, a little foresight here can save you thousands and a lot of stress.

Appraisal Validity and Timelines

An appraisal might still be within its official window, but that doesn’t always mean it holds water. Lenders care about today’s risk, not yesterday’s paperwork. If the market’s moved, even a little, or if your financing terms have shifted, that “valid” report might no longer do the job.

It’s easy to treat an appraisal like a permanent stamp of value, but in reality, it’s more like a time-stamped opinion. And opinions age quickly in real estate.

If you’re buying or refinancing, keep a close eye on your appraisal timeline. Build in buffer days, talk to your lender often, and don’t assume the clock starts when you sign the offer, it usually starts before that.

And if your appraisal’s on the verge of expiration, don’t wait. Reach out, ask for options, and be ready to act. Better yet? Skip the timing games completely. With iBuyer.com, you can get a cash offer backed by real-time market data, no appraisals, no guesswork, and no ticking clock.

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