Valuation Expertise for Renovation and Construction Lending

RCA helps lenders close more complex loans with fewer underwriting issues and predictable turnaround times.

Subject-to appraisal assignments are a niche specialty and few appraisers are equipped for them

Valuing a property as it will be requires reading specifications, bids, and drawings, not just the house as it stands. When that work falls short, lenders see it in the pipeline.

Conditions that duplicate the specifications

Reports that call for work the scope of repairs already includes, adding days to underwriting.

Revision cycles

Reports that are not right the first time, and revisions that are slow to arrive.

Communication gaps

Appraisers who are difficult for lender staff to reach when questions arise.

One discipline, two loan types

RCA appraisers work mainly on subject-to assignments: interpreting specifications, bids, and architectural and engineering drawings to develop supported as-completed opinions of value.

Renovation appraisals

Existing properties financed with a documented scope of repairs, are are valued as repaired. Fannie Mae HomeStyle, Freddie Mac Choice and other renovation & new construction programs.

Construction appraisals

New homes financed from plans and specifications, valued as completed. Construction-to-permanent, land-plus-build, and custom homes.

A process built for first-time accuracy

Document review

The specification of repairs, bids, and plans are reviewed before the site visit, so the appraisal reflects the full documented scope.

Appraisal development

An as-completed opinion of value, supported by comparable sales and the documented work, within the requirements of the loan program.

Review and delivery

An internal review for completeness and consistency with program guidelines and the submitted documentation before the report is delivered.

Serving New Jersey, New York, and Pennsylvania

RCA accepts renovation and construction assignments from lenders of every size in all three states. Every assignment is completed by an appraiser licensed or certified in the state where the property is located. Contact us to confirm coverage for a specific property.

Independent by design

RCA appraisals are developed independently, in accordance with appraiser independence requirements and USPAP.