What is an Appraisal Waterfall??
On July 22, 2022, Circular 26-22-13 was introduced. The title of the new circular is Procedures for Alternative Valuation Methods, but we will refer to it as an Appraisal Waterfall.
As of right now, the VA is giving certain allowances on appraisal and inspection processes for borrowers who meet certain qualifications. The Veteran must be making a down payment of at least 20 percent of the purchase price.