Home Appraisals Are Changing, Here’s What You Should Know

Home Appraisals Are Changing. Here’s What Homebuyers Should Know.

Buying or refinancing a home comes with plenty of paperwork, and soon, one key document, the home appraisal report, will look different. Whether you’re already a TVFCU member or just starting to explore your options, we’re here to explain what’s changing and what it could mean for you.

Beginning November 2, 2026, a new appraisal reporting standard will be required for new reports submitted on loans sold to Fannie Mae or Freddie Mac. The update, known as the Appraisal Modernization or the UAD 3.6 changes how appraisers record and present information about a property. TVFCU has already begun using the new format, so you may see it before November.

What will look different?

Instead of choosing from several older forms, appraisers will use a redesigned report that adapts to the property being evaluated. It uses a more consistent format for details such as the home’s features, condition, and quality.

The update does not mean every loan will require an appraisal or that every property will be inspected in the same way. What your loan needs depends on the mortgage program and the property. It also does not guarantee a particular home value or closing timeline.

Will the cost change?

Appraisal costs are expected to increase. Appraisers are adjusting to new software and reporting requirements, and many anticipate charging more as the industry makes the transition. The fee will vary by property and appraisal assignment, so ask for the estimated cost early in the mortgage process and review the appraisal fee on your Loan Estimate.

What should you do when you receive an appraisal?

Read it. Make sure the property details are accurate and look at the comparable homes used to help determine their value. If you notice an error or believe important information was missed, tell your lender promptly. Reviewing it early gives you time to ask questions before closing.

You don’t have to figure it out alone

The new reporting standard applies to the Fannie Mae and Freddie Mac appraisal submission process; other mortgage programs may have different requirements. That’s why a conversation with your lender matters. At TVFCU, our mortgage team can explain what applies to your loan, discuss the estimated appraisal cost, and help you interpret the report.

The process may be changing, but you can still count on having someone to turn to with your questions.

Want more information on home appraisals? Check out our blog Understanding Home Appraisals.