ROV facts

Low appraisals by the numbers

A low appraisal is common, and a reconsideration request is the one shot most borrowers get to change it. Here's what public data says.

7–13%

of purchase appraisals came in below the contract price, depending on the neighborhood

Freddie Mac study of 12 million appraisals, 2015–2020 (via NAR)

~24%

of reconsideration requests led the appraiser to change the value

Dwellworks, as reported by MortgageResearch.com

5–8%

of contracts each month were delayed by appraisal issues

NAR REALTORS® Confidence Index, 2025–2026

1

borrower request per appraisal on most loans, and only before closing

Fannie Mae Selling Guide B4-1.3-12

Industry figures, not Appraisal Fighter results. We'll publish our own outcome data once we have enough of it.

For brokerages

What a plan returns

Roughly 1 in 12 financed deals gets an appraisal below contract, and roughly 1 in 4 requests changes the value. Put in your own volume to see the commission at stake each year next to what a plan costs.

Industry assumptions
Closed deals a year400
Appraisals below contract a year23
Deals where a request could change the value5.6

Commission at stake vs. plan cost

9.5×

Brokerage plan, per year$5,988
Commission at stake, per year$57,185

One deal where the value changes is about $10,200 in commission. That covers 20 months of the Brokerage plan.

An illustration, not a prediction or a guarantee, using industry figures, not Appraisal Fighter results. Defaults: 2.4% average buyer's-agent commission (Redfin, Q1 2025); 27% cash buyers (NAR REALTORS® Confidence Index, September 2026); 8% of purchase appraisals below contract (Freddie Mac found 7.4% to nearly 13% by neighborhood, 2015–2020); about 24% of requests changing the value (Dwellworks, via MortgageResearch.com). The typical NAR member closed 10 deals in 2024 (NAR Member Profile 2025). "Commission at stake" is total commission on deals where a request could change the value, for your agents and brokerage combined. A changed value doesn't always close the full gap, and some deals with a low appraisal close anyway after a price change, so it is commission at stake, not commission earned.

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Frequently asked questions

What is a reconsideration of value (ROV)?
It's a written request, sent through the lender, asking the appraiser to take another look at the appraised value. Federal rules (12 CFR 1026.42) let a borrower ask the appraiser to consider additional information, explain the basis for the value, or correct errors. The appraiser alone decides whether to change anything.
How often does an ROV actually change the value?
Less often than people hope. The best public figure we know of is about 24% of requests (Dwellworks, a relocation appraisal manager). Requests that bring the appraiser good sales they didn't use, or point to a clear fact error with the report's own numbers attached, tend to do best. Requests that only argue with the appraiser's judgment rarely move anything. That's why our free check tells you how strong your request is before you pay.
Who can request one?
The borrower, through their lender. The buyer's agent, the seller or the listing agent can help prepare it, but on most loans the borrower has to sign or authorize it. Nobody should contact the appraiser directly.
How many times can I ask, and when?
On Fannie Mae and Freddie Mac loans, one borrower-initiated request per appraisal, and only before closing. On VA loans a second request is generally not considered. Treat it as one shot, and make it the strongest one you can.
Is it different for FHA loans?
Yes. HUD withdrew FHA's borrower-initiated ROV process in March 2025 (Mortgagee Letter 2025-08). Today the lender's underwriter decides whether to ask the appraiser to reconsider, usually when relevant information wasn't considered. So for FHA, the request goes to the underwriter, who decides whether to pass it on.
Is it different for VA loans?
Yes. VA's Tidewater process should give the buyer's side about 2 business days to send sales before a below-contract value is finalized. After the Notice of Value, a written request goes through the lender. When new sales are sent in a grid like the appraisal's, the appraiser is expected to respond within 5 working days.
What makes a strong request?
In order of what usually works best: recent sales the appraiser didn't use that closed by the appraisal's effective date and are close to the home in size, age and condition; clear fact errors (square footage, bedroom count, lot size, year built); and places where the report's own numbers don't line up, like the same feature adjusted at two different rates. Our free check rates your request as Strong, Moderate or Weak and lists the issues you can raise.
How long does it take?
It depends on the lender and the appraiser. Expect days to a few weeks. Because the answer may come close to your deadlines, plan a backup in parallel: price or gap negotiations, rate-lock and contract extensions.
What if the value doesn't change?
On most loans you can't file a second request on the same appraisal. Your options are usually to renegotiate the price, cover the gap with cash, change loan programs, or ask the lender whether a second appraisal is possible under its rules. Many contracts have an appraisal contingency that lets the buyer walk away; check yours with your agent.
Do you give an opinion of value?
No. We're a document-preparation service, not appraisers or brokers. Every figure in a request comes from the appraisal report or documents you provide, and the only value a request asks for is the contract price.
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