For most refinances, yes, appraisers do come inside your home. A full interior-and-exterior inspection is the standard requirement for conventional, FHA, and VA refinance loans, because the appraiser has to establish current market value so the lender can calculate your loan-to-value ratio and confirm the new mortgage fits its underwriting rules.1Consumer Financial Protection Bureau. What Is a Loan-to-Value Ratio and How Does It Relate to My Costs But not every refinance triggers a walkthrough. Depending on your loan program, your equity, and how the automated underwriting reads your file, the appraiser may inspect only the outside, work entirely from records, or be skipped altogether.
When You Can Skip the Interior Visit
Before you start clearing clutter, ask your loan officer what kind of appraisal your refinance actually requires. Several paths lead to no interior inspection, and some lead to no appraisal at all.
Fannie Mae’s Value Acceptance feature lets lenders use the borrower’s estimate of value instead of ordering a new appraisal. Eligibility is determined automatically inside Fannie Mae’s Desktop Underwriter based on the loan’s risk profile, your equity, and the property’s data history.2Fannie Mae. Fannie Mae Selling Guide March 4, 2026 Freddie Mac runs a parallel program called Automated Collateral Evaluation. If your file qualifies through either system, no appraiser is coming.
FHA streamline refinances are built to cut paperwork for borrowers who already hold an FHA loan and can often close without an appraisal.3U.S. Department of Housing and Urban Development. Streamline Refinance Your Mortgage The VA follows the same logic for its Interest Rate Reduction Refinance Loan: in most cases, a VA IRRRL requires no appraisal at all. Your lender will tell you early whether your loan qualifies for a waiver.
When an appraisal is required, it doesn’t always mean someone walks every room. The format your lender orders depends on the loan program, your equity position, and the property.
- Full interior appraisal. The appraiser enters the home, measures rooms, takes photographs, tests systems, and inspects the exterior. This is the default for most conventional, FHA, and VA refinances.
- Exterior-only appraisal. Sometimes called a drive-by. The appraiser evaluates the property from the outside and fills in the rest from public records and comparable sales. Lenders may allow this when a borrower has substantial equity.
- Desktop appraisal. No site visit at all. The valuation relies on tax records, MLS data, and public information.
- Hybrid appraisal. A third party, not the appraiser, visits the property to take photos and measurements, then hands that data off. Fannie Mae permits hybrid appraisals for refinances on one-unit properties, including condos, principal residences, second homes, and investment properties.4Fannie Mae. Hybrid Appraisals
Whatever the format, appraisers work under federal independence rules. The appraiser cannot have a financial interest in the transaction and must be separated from the lender’s loan production staff.5eCFR. 12 CFR 34.45 – Appraiser Independence For a standard single-family home, plan on the on-site portion of a full appraisal running roughly 30 minutes to an hour. Larger or unusual properties take longer.
What the Appraiser Looks at Inside
The interior inspection is where most of the valuation detail comes from. The appraiser is doing three things at once: gauging physical condition, checking whether the home matches what’s on record, and gathering the details that let them compare it to properties that recently sold nearby.
Layout, Size, and Room Count
The appraiser counts bedrooms and bathrooms, measures rooms, and calculates gross living area. Every square foot matters, because comparables are often adjusted on a per-square-foot basis. Finished attics and basements are evaluated separately: they only qualify as living space when they meet criteria like ceiling height, permanent heating, and direct access. An unfinished basement gets noted but doesn’t add to the living-area calculation.
Condition and Systems
Walls, floors, and ceilings are checked for cracks, water stains, and visible wear. The appraiser tests permanent systems, so heating, air conditioning, and plumbing all need to work. This isn’t a home inspection; they won’t take anything apart, but they will note anything obviously broken. Kitchens and bathrooms get extra attention because upgrades there tend to move value most. Permanent improvements like hardwood floors, updated countertops, or new cabinetry are documented and photographed to support adjustments in the final report.
Safety Items
Functional smoke detectors and carbon monoxide alarms need to be present where required. For homes built before 1978, the appraiser looks for peeling or chipping paint, a potential lead-based paint hazard.6Environmental Protection Agency. Lead-Based Paint Disclosure Rule Fact Sheet This matters especially on FHA loans, where the appraiser must flag health and safety deficiencies. HUD’s Minimum Property Standards require FHA-insured homes to meet nationally recognized building codes plus durability requirements for items like doors, windows, gutters, and kitchen cabinets that go beyond standard building codes.7U.S. Department of Housing and Urban Development. Minimum Property Standards Resources Visible signs of pest damage or mold get flagged too, though the appraiser won’t order specialized testing.
Unpermitted Work
If you added a bedroom, converted a garage, or enclosed a porch without permits, the appraiser is required to note it. Under Fannie Mae guidelines, they must comment on the quality and appearance of unpermitted work and assess its impact on market value.8Fannie Mae. Improvements Section of the Appraisal Report In practice, unpermitted square footage often isn’t counted toward gross living area, which reduces the value the comparables can support. Some lenders view unpermitted additions as a risk factor that complicates approval. If you have work in this category, check with your local building department about retroactive permits before the appraiser shows up.
What They Check Outside
The exterior inspection covers the structural envelope and the lot. The appraiser looks at the roof for missing shingles or sagging, checks siding for rot or damage, and inspects the foundation for cracks or settling that might indicate structural problems. They’re not climbing anything; they’re evaluating what’s visible from the ground.
Property dimensions and lot size are verified against public records. Decks, porches, detached garages, and pools are documented and factored in. The appraiser also considers the surrounding block, comparing your home’s upkeep and curb appeal to the neighbors. A well-kept home on a street of deferred maintenance can still appraise well, and the reverse is also true.
How to Prepare
You can’t move the comparable sales, but you can control how the home presents. A few hours of preparation can meaningfully shape the outcome.
- Gather renovation records. Pull receipts and permits for major upgrades like a kitchen remodel, roof replacement, or HVAC installation. Appraisers use this documentation when adjusting against comparable properties.
- Make every space accessible. The appraiser needs to see the attic, basement, crawl spaces, and utility panels. Move stored items and clear paths in advance.
- Handle small repairs. Fix leaky faucets, patch wall holes, replace burned-out bulbs. Individually these don’t move the needle much; together they shape the impression of overall condition. Fresh paint on visibly worn surfaces tends to pay back well relative to its cost.
- Secure pets. Crate dogs or take them off-site. An appraiser who can’t safely enter a room will note that the room wasn’t inspected.
- Have a property summary ready. Keep your most recent tax bill, any survey documents, and HOA details available.
If you’ve completed permitted renovations that haven’t hit public records yet, point them out with documentation. Don’t shadow the appraiser room to room or try to sell the house. Let the improvements speak for themselves.
What It Costs and When You Get the Report
A full interior appraisal on a standard single-family home typically runs between $300 and $600, with prices climbing for larger properties, rural locations, or unusual layouts. The borrower pays, and the fee usually appears in closing costs. Some lenders will roll it into the loan balance, but then you pay interest on it for the life of the mortgage. Desktop and exterior-only appraisals cost less because there’s less work involved, but you don’t pick the format. Your lender does. The fee is non-refundable: if the valuation comes in low and you walk away from the refinance, you still owe for the appraisal.
After the visit, the appraiser writes up findings in a Uniform Residential Appraisal Report that includes photographs, measurements, a description of condition, and the value opinion supported by comparable sales.9Fannie Mae. Uniform Residential Appraisal Report The report goes to the lender, not to you directly. Federal law then requires the lender to give you a copy promptly after it’s finished, or at least three business days before closing, whichever comes first.10Consumer Financial Protection Bureau. 12 CFR Part 1002 Regulation B – 1002.14 Rules on Providing Appraisals and Other Valuations Most lenders send it within about a week of the site visit, since the appraiser needs time to research comparables and write. If two weeks pass without a copy, call your loan officer and ask for it.