No-Appraisal Mortgages (AVM-Based Closing)
A growing set of mortgage programs accept an AVM (Automated Valuation Model) report in place of a traditional human-appraiser report, on qualifying loans. AVM uses software-generated comparable sales data and confidence scoring. When the AVM confidence is high enough, the lender skips the 2-3 week appraisal scheduling window and the $500-$800 cost - saving both time and money.
Highlights
- •AVM in place of full appraisal on qualifying loans
- •Typically loans <$250-$400K at 80% LTV or below
- •Saves $500-$800 appraisal cost
- •Closes 10-15 days faster than appraisal-required loans
- •Available on select conventional, refinance, and second-lien programs
- •Property must score high on AVM confidence model
Who it's for
Buyers and refinancers in active markets where AVM models have strong comparable data, smaller loan amounts where appraisal cost cuts into deal economics, and time-sensitive scenarios (competing offers, expiring rate locks).
Active programs that fit
Non-QM Mortgage Program
confirmed 5/10/2026Closed-end second mortgage program for primary, secondary, and investment homes, offering fixed terms and cash-out options without refinancing the first lien.
Specialized Mortgage Program
confirmed 5/21/2026Fixed-rate second lien mortgage options designed for debt consolidation, home improvements, or other financing needs without refinancing the existing first mortgage.
FHA Mortgage Program
confirmed 5/20/2026A simplified refinance process for existing FHA loans that requires no income verification or appraisal to help borrowers secure a lower interest rate.
Specialized Mortgage Program
confirmed 5/15/2026A closed-end second lien mortgage program allowing borrowers to access home equity without refinancing their existing first mortgage, available for primary, secondary, and investment properties.
Specialized Mortgage Program
confirmed 5/20/2026A standalone digital home equity line of credit designed for streamlined processing and quick access to home equity.
Bank Statement Loan for Self-Employed
confirmed 5/13/2026A fixed-rate second lien program for primary residences using 12 or 24 months of bank statements for income qualification, with credit scores from 680.
Specialized Mortgage Program
confirmed 5/13/2026A fixed-rate second lien program for primary, secondary, and investment properties with full documentation, credit scores from 660, and loan amounts up to $500,000.
Specialized Mortgage Program
confirmed 5/29/2026Hard money financing solutions for real estate investors and buyers, including options for mobile homes, rural homes, and land.
Specialized Mortgage Program
confirmed 5/9/2026Fixed-rate second lien mortgage options for primary, second, and investment properties, allowing borrowers to access equity without refinancing their existing first mortgage.
Specialized Mortgage Program
confirmed 5/9/2026A flexible HELOC program for primary, second homes, and investment properties with up to 95% CLTV and no initial draw requirement.
Bank Statement Loan for Self-Employed
confirmed 5/9/2026A fixed-rate second lien program for primary residences using 12 or 24-month bank statements for income qualification, with credit scores starting at 680.
Specialized Mortgage Program
confirmed 5/9/2026A fixed-rate second lien program offering up to 85% CLTV for primary and secondary homes, and 75% CLTV for investment properties, with credit scores starting at 660.
Non-QM Mortgage Program
confirmed 5/15/2026A closed-end second lien loan option that supports various income documentation types or DSCR qualification for cash-out needs.
Non-QM Mortgage Program
confirmed 5/19/2026A closed-end second lien mortgage program available for owner-occupied, second home, and investment properties with fixed-rate terms of 10, 20, and 30 years.
Frequently asked questions
What is an AVM in mortgage lending?
AVM (Automated Valuation Model) is a software-generated property valuation using comparable sales data, MLS records, and tax data. Lenders accept AVM when the confidence score exceeds a threshold (typically 80%+) on qualifying loan profiles.
What LTV qualifies for AVM-only?
Typically 80% LTV or below, on loan amounts under $250-$400K. Higher LTV or larger loan amounts still require a full appraisal.
Can I refinance without an appraisal?
Yes, on select rate-and-term refinances where the AVM confidence is high and LTV is reasonable. Cash-out refis typically still require a full appraisal.
Does the AVM cost anything?
A small AVM fee ($25-$100) replaces the appraisal fee ($500-$800). Net savings ~$400-$700 plus the time saved.
Want to see if you qualify?
Get an instant rate from hundreds of lenders, no signup required.
Related programs
HELOCs & Closed-End Second Mortgages
Home equity lines (HELOC) and closed-end second mortgages up to 85-90% CLTV. Tap home equity without refinancing your first mortgage. Available nationwide.
Bank Statement Mortgages for Self-Employed Borrowers
Bank statement mortgages qualify self-employed borrowers using 12 or 24 months of personal or business bank deposits. No tax returns. Up to 90% LTV.
Today's mortgage rates
Conventional
5.875%
5.906% APR
FHA
5.375%
5.405% APR
VA
5.375%
5.402% APR
Conv: 80% LTV, 780 FICO. FHA: 96.5% LTV, 680 FICO. VA: 100% LTV, 680 FICO. 30-yr fixed. Your rate may vary.