Appraisal Waiver Florida: When Lenders Skip the Appraisal and What It Means for Sellers

An appraisal waiver Florida lenders offer lets a buyer's lender skip the full appraisal and accept a computer model's view of the home's value instead. For a seller, that can remove one of the most common reasons a financed deal stalls. However, waivers are only offered on some loans and some homes, and nobody can promise one in advance. This guide explains how the offer works, who can get it, and how to weigh it when you compare offers on your Palm Beach County home.

Key takeaways

• Fannie Mae now calls its waiver "value acceptance." Freddie Mac calls its version ACE, short for automated collateral evaluation.
• Both programs are offered by the lender's underwriting software. A buyer cannot simply ask for one and get it.
• Homes priced at about $1,000,000 or more do not qualify. Fannie Mae excludes $1,000,000 or more, and Freddie Mac excludes anything above $1,000,000. Manufactured homes and some other property types are also left out.
• FHA and VA purchase loans generally still need an appraisal, so the waiver mostly helps conventional buyers.
• A financed offer with a confirmed waiver can close more like a cash offer, but the loan can still fall through for other reasons.

What an appraisal waiver in Florida actually is

When a buyer finances a home, the lender wants proof that the house is worth at least the loan amount. Usually that proof is an appraisal. A licensed appraiser visits, measures the home, picks recent comparable sales and writes a report.

A waiver replaces that step with data. The lender runs the loan through Fannie Mae's Desktop Underwriter or Freddie Mac's Loan Product Advisor. If the system has enough confidence in the value, it offers to accept the value without a new appraisal. The lender then decides whether to use that offer.

So the word "waiver" is a bit misleading. The value still gets checked. It is just checked by a model that draws on prior appraisals, public records and listing data rather than by a person walking through the house.

Fannie Mae value acceptance

Fannie Mae's Selling Guide covers this in section B4-1.4-10. The offer can appear on certain purchase, limited cash-out and cash-out refinance loans, but only when Desktop Underwriter returns an Approve/Eligible result.

The guide lists several cases where the offer is not available. Among them:

• two- to four-unit properties
• co-op units and manufactured homes
• proposed construction
• loans where the purchase price or estimated value is $1,000,000 or more
• transactions that use a gift of equity
• loans that are underwritten by hand

One-unit homes, including condos, can qualify for a principal residence or a second home. Generally, the system also looks for a prior appraisal of the home in Fannie Mae's data. That is why a house that sold with a conventional loan a few years ago may have a better chance than a home that has not changed hands in decades.

The offer also has a shelf life. Fannie Mae says it must be no more than four months old on the date of the note. And once a lender orders a full appraisal for the deal, it can no longer use the waiver.

Freddie Mac ACE and the 90 percent limit

Freddie Mac's program works in a similar way. Its Seller/Servicer Guide sets the rules in section 5602.3. That section caps ACE at a 90 percent loan-to-value ratio for purchases and no-cash-out refinances on a primary home or second home.

The same section lists homes that do not qualify. These include manufactured homes, leasehold properties, most homes with resale limits, non-arm's length sales and loans where the value or price is above $1,000,000. An ACE offer stays valid for 120 days. Also, a change to the loan amount, price, address or occupancy means the loan has to be run again.

In plain terms, a buyer with at least 10 percent down on a modest single-family home has the best shot. A buyer stretching on a $1.2 million house in Boca Raton does not.

Which buyers can't get an appraisal waiver in Florida

Government-backed loans play by different rules. FHA and VA purchase loans generally require an appraisal, partly because those programs check the home against their own property standards. Those standards cover things like safety and basic condition, not just value.

That matters in Palm Beach County and Port St. Lucie, where FHA and VA buyers are a real share of the entry-level market. If your offer comes from one of these buyers, plan on an appraisal.

Jumbo loans and many portfolio or non-QM loans also follow the lender's own rules. Some may use alternatives, but there is no standard waiver to count on. Ask the buyer's loan officer directly.

How often a waiver shows up on local offers

There is no public figure we could verify that shows how many Florida purchase loans get a waiver. Lenders see it case by case. Still, a few local patterns make it more or less likely.

• Price. Neither program covers homes priced much above $1,000,000 (Fannie Mae's cutoff is $1,000,000 or more; Freddie Mac's is above $1,000,000). In August 2026, the county's single-family median was $650,000 and the condo and townhouse median was $300,000, according to Miami Realtors. So many local homes fall under the cap.
• Property type. Manufactured homes are out. Condos can qualify with Fannie Mae, but the project itself still has to meet the lender's condo rules.
• Down payment. Larger down payments help, and Freddie Mac's purchase limit stops at 90 percent loan-to-value.
• Sales history. A home with a recent appraisal on file gives the system more to work with.

Because of that, a waiver is a bonus you can ask about. It is not something to plan your sale around.

Why a waiver can make a financed offer feel like cash

Sellers often favor cash because there is no lender and no appraisal. Our guide to what happens if the appraisal is low shows why. A short appraisal can force a price cut, a bigger down payment from the buyer, or a canceled contract.

When a lender confirms that it will use a waiver, that risk mostly goes away. The deal also skips the wait for an appraiser, which can be useful in busy months. As a result, a strong conventional offer with a confirmed waiver can compete closely with cash on certainty and timing.

That said, the loan is still a loan. Underwriting can still stall over income, credit, insurance or the condo project. So a waiver closes one gap. It does not close every gap.

The risks for sellers to keep in mind

First, the offer can disappear. If the buyer changes the loan amount or the price changes after an inspection credit, the loan may be run again and the waiver may not come back.

Second, the buyer may still want an appraisal. Some buyers like the extra check on value, especially in a softer market, and they can choose to pay for one. In that case the lender cannot use the waiver.

Third, without an appraiser on site, nobody from the lender looks at the home's condition. That shifts more weight onto the buyer's inspection. In other words, inspection talks may matter even more on a waived loan.

Finally, the contract still controls. The financing terms and any appraisal language in the offer decide what happens if the loan changes. Read what the buyer's offer says about appraisal and financing before you treat it like cash.

How sellers can ask about an appraisal waiver in Florida

You can't order a waiver for the buyer. But your agent can ask good questions before you accept an offer.

1. Ask what loan type the buyer is using. Conventional loans are the only realistic path.
2. Ask whether the buyer's pre-approval ran through Desktop Underwriter or Loan Product Advisor with this price and address, and whether it returned a value acceptance or ACE offer.
3. Ask for a short note from the loan officer that confirms the offer and its date.
4. Check the down payment. Under Freddie Mac's rules, a purchase over 90 percent loan-to-value won't get ACE.
5. Look at the appraisal and financing terms in the contract, including any appraisal gap language.

Then compare the offer side by side with your other bids. Price matters, but so do deposit size, timelines and how likely each buyer is to close.

Pricing your home when a waiver is possible

Some sellers think a waiver lets them price high. In practice, it does not work that way. The model still compares your price with its own value estimate, and an overpriced home is less likely to get the offer at all.

Also, most of your buyers will not get a waiver. FHA, VA and many conventional buyers will still go through an appraisal, and that appraiser will lean on the same sales your agent uses. So the safest plan is to price from solid comparable sales and treat a waiver as a nice surprise. If you want to know what a typical report costs buyers, see our guide to home appraisal costs in Florida.

Before you list in Palm Beach Gardens, Boca Raton or Port St. Lucie, ask your agent for a price range built on recent closed sales. That range is what an appraiser, or a model, will test.

Frequently asked questions

Can a buyer request an appraisal waiver in Florida?

Not directly. The offer comes from Fannie Mae's or Freddie Mac's underwriting system. The lender then decides whether to use it. A buyer can ask the loan officer whether one was offered.

Do condos qualify for an appraisal waiver in Florida?

One-unit condos can qualify under Fannie Mae's value acceptance. However, the condo project still has to meet the lender's project rules, and manufactured homes and co-ops are excluded.

Do FHA and VA loans get appraisal waivers?

FHA and VA purchase loans generally still require an appraisal. Some streamline refinances work differently, but that does not help a seller on a purchase.

Is an offer with a waiver as good as cash?

It removes the appraisal risk, which is a big one. Even so, the buyer still needs final loan approval, so it is not quite the same as cash in the bank.

What is the price limit for a waiver?

Fannie Mae excludes homes with a price or estimated value of $1,000,000 or more, and Freddie Mac excludes those above $1,000,000. Higher-priced homes will almost always need an appraisal.

Sources

• Fannie Mae Selling Guide, B4-1.4-10 Value Acceptance
• Freddie Mac Seller/Servicer Guide, section 5602.3
• Miami Realtors, Palm Beach County August 2026 home sales

This article is general information, not legal, tax or financial advice. Loan rules change often, so confirm the details with the buyer's lender and your own attorney or advisor.

Comparing offers on your Palm Beach County home? We will help you check loan types, waiver offers and closing risk before you sign. Book a no-obligation listing consultation or see what your home is worth. Buying instead? Talk to our team about making a financed offer that stands out.