---
title: Appraisals & Valuations
description: "How Upright Lending values your property: appraisals, alternative valuations and virtual inspections, timing, and what happens if the value comes in low."
---

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3. [Closing Your Loan](https://help.uprightlending.com/borrower-knowledge-base/getting-started?hsLang=en-us#closing-your-loan)

# Appraisals & Valuations

### Why Value Matters

Your loan amount is sized on the property's value: its as-is value today and, on rehab and construction loans, its after-repair value once the work is done. On a purchase, we use the lower of the purchase price and the as-is value.

### Which Valuation Your Loan Needs

- **Bridge and light rehab under $500,000:** an alternative valuation, such as a hybrid appraisal or broker price opinion, with interior photos.
- **Bridge and light rehab of $500,000 or more, heavy rehab, new construction and multifamily:** a full appraisal.
- **Rental (DSCR) loans:** a full interior appraisal ordered through an approved appraisal management company, plus a second valuation, such as an automated valuation or desk review, that supports it. Properties with 5 to 10 units need two full commercial appraisals.

### Virtual Inspections

On many rehab loans, a virtual inspection can take the place of an appraiser's site visit. Send your branch the property address before you walk it and they'll send you a link. The walkthrough is time-stamped and location-verified, so there's no second visit and your closing moves faster.

### Ordering and Timing

- We order your valuation once your term sheet is signed and your diligence deposit is paid.
- Valuations are good for 120 days. If closing slips past that, an update may be needed.
- On rental loans, appraisals ordered by you, a broker or another lender can't be used.
- Make the property easy to access: a lockbox code or an on-site contact, and utilities on where possible.

### Help the Appraiser Get It Right

Share these with your branch so they reach the appraiser:

- Your scope of work and budget, on rehab and construction loans.
- Your purchase contract.
- Leases and a rent roll, on rental properties.
- Recent comparable sales you know about. The appraiser decides whether to use them.

### If the Value Comes In Low

A lower value can change your loan amount. Your branch will walk you through the options, which can include more cash at closing, a revised structure, or a request for reconsideration if the appraisal missed relevant comparable sales. When more than one valuation is ordered on a rental loan, we use the lower value. We can't ask an appraiser to reach a number.

 

- [Getting Started](https://help.uprightlending.com/borrower-knowledge-base/getting-started?hsLang=en-us#main-content)

    - [Your Account](https://help.uprightlending.com/borrower-knowledge-base/getting-started?hsLang=en-us#your-account)
    - [Applying For A Loan](https://help.uprightlending.com/borrower-knowledge-base/getting-started?hsLang=en-us#applying-for-a-loan)
    - [Closing Your Loan](https://help.uprightlending.com/borrower-knowledge-base/getting-started?hsLang=en-us#closing-your-loan)
    - [After Your Loan Funds](https://help.uprightlending.com/borrower-knowledge-base/getting-started?hsLang=en-us#after-your-loan-funds)
- [Payments & Servicing](https://help.uprightlending.com/borrower-knowledge-base/payments-servicing?hsLang=en-us)
- [Rehab & Construction Draws](https://help.uprightlending.com/borrower-knowledge-base/rehab-construction-draws?hsLang=en-us#main-content)

    - [Draws Overview](https://help.uprightlending.com/borrower-knowledge-base/rehab-construction-draws?hsLang=en-us#draws-overview)
    - [Using Sitewire](https://help.uprightlending.com/borrower-knowledge-base/rehab-construction-draws?hsLang=en-us#using-sitewire)
- [Exiting Your Loan](https://help.uprightlending.com/borrower-knowledge-base/exiting-your-loan?hsLang=en-us)

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