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Reconsideration of Value

During the homebuying or refinancing process, an appraiser will submit an appraisal report to the lender for review. An appraisal is an important part of the homebuying process because it establishes the value of the property for a home loan. Simply stated, fair and accurate appraisals directly impact national homeownership rates, which impact the racial wealth gap.

If the appraiser values your home for lower than expected, known as an “undervaluation”, you can appeal the appraiser’s decision by asking the lender to request a Reconsideration of Value or ROV.

An ROV challenges the initial appraisal by identifying inaccuracies, such as miscalculation of square footage or number of rooms. An ROV might also be appropriate if the appraiser uses unsuitable comparable properties and makes discriminatory inferences. Your lender can help you review the appraisal report and identify significant inaccuracies to include in the ROV.

When appropriate, the appraiser can republish the amended report and send it back to the lender or conduct another appraisal.

Ensuring that an appraisal reflects the fair market value of the property can help close the racial homeownership and wealth gap.

*Please note, the ROV process may vary based on whether the borrower is a purchaser, refinancer, or seeking a reverse mortgage.

Visit www.hud.gov/fairhousing or call the National Housing Discrimination Hotline at (800) 669-9777 or (800) 877-8339 (Fed.Relay)

Reconsideration of Value

A Request by consumers for an appraiser to reassess the analysis and conclusion of their initial appraisal when provided with additional information that may affect the value determination.


An appraisal in which the opinion of value is lower than a reasonable estimate of the fair market value of the home.

The Cost of Undervaluation

Homes owned by people of color are valued $48,000 less on average than white homeowners in similar homes.

The ROV Process

There is no standard ROV process. Work with your lender to identify and document discrepancies in the initial appraisal report and submit an appeal, or ROV, to the lender.