Can I get a second appraisal if the first one is low?

The short version: you can't shop for a better number

A low appraisal feels personal. You fell in love with the house, you won the bidding war, and then a stranger with a clipboard says the market does not agree. The natural reaction is "Fine, get me someone else."

That is exactly what the rules are built to stop. If a lender could keep ordering appraisals until one hit the contract price, it would be less a valuation process and more a slot machine with a mortgage attached.

A lender cannot order a second appraisal simply because the first one disappointed somebody. There has to be a documented reason. That does not mean you are stuck. It means the path to a different number runs through evidence, not through a fresh roll of the dice.

What Freddie Mac's guide actually allows

Freddie Mac's Seller/Servicer Guide, Section 5604.4, says the lender must not order, obtain, use or pay for a subsequent appraisal unless one of these applies:

• There are indicators the first report was inaccurate or not credible, or that it violated legal or professional standards on nondiscrimination, and those indicators are clearly noted in the loan file.
• The new appraisal comes from a written, pre-established review or quality control process, and the lender picks the most reliable appraisal, not the one with the value it wanted.
• The law requires a second appraisal.

When the lender ends up with more than one acceptable appraisal, it must use the most credible opinion of market value. Not the highest. Not the one that makes the deal work. The most credible.

Many lenders sell loans to Freddie Mac or follow similar policies, but your lender's own rules and your loan type (FHA, VA, jumbo, private money) can differ. Ask your loan officer which rules apply to your file.

Start with a reconsideration of value

Before you think about a second appraisal, use the tool designed for this moment: a reconsideration of value, or ROV. It is a written request, sent through your lender, asking the appraiser to look again at specific errors or better comparable sales (comps, meaning recent nearby sales of similar homes).

Freddie Mac's guide says lender policies must allow one borrower-initiated ROV per appraisal, and once the loan closes, an ROV is no longer permitted. That one shot is worth taking seriously.

Chase, for example, describes three possible outcomes after it reviews an ROV: the original value stands, the appraisal is revised, or a new appraisal is ordered at no charge to the customer. Other lenders have their own forms and steps.

Here is what moves an appraiser, speaking as one: a wrong square footage, a missed bedroom, a better sale I did not use, an upgrade I did not see. Here is what does not: "We offered more than this, so it must be worth more." The contract price does not set value. One buyer and one seller are not the whole market.

Switching lenders: the expensive do-over

You can walk away from your lender, apply somewhere else and have that lender order a new appraisal. NerdWallet points out the catch: you pay again, and there is no guarantee the next appraisal will come in higher.

Think about why. The second appraiser is looking at the same neighborhood, the same recent sales and the same house. If the first appraiser did the work right, the second one is likely to land in the same zone. Now you have paid twice to hear the same news, with a fresh delay on top.

Switching also eats time. Purchase contracts have deadlines, and a new loan application, new underwriting and a new appraisal can push you past your closing date. Check your contingency dates with your agent before you pull that lever.

Switching can make sense when the first report has real, provable problems and your lender is not responding. It is a poor plan when the only problem is that the number hurt your feelings. The market does not care about feelings. Neither do comps.

What to do after a low appraisal

1. Get the full report. Your lender must give you a copy. Read the grid, the comps and the comments.
2. Check the facts. Square footage, bedroom and bath counts, lot size, garage, pool, upgrades. Factual errors are the easiest fixes.
3. Look for better comps. Ask your agent for closed sales that are more similar, closer or more recent than the ones used. Explain why each one fits.
4. Submit one strong ROV through your lender. Be specific, be brief and attach proof. Do not contact the appraiser directly.
5. If you suspect bias, say so in writing to the lender. That is one of the documented reasons a second appraisal can be ordered.
6. Plan for the number holding. Talk with your agent about renegotiating, covering part of the gap or using your appraisal contingency if you have one.
7. Only then weigh switching lenders, knowing it costs money and time and may not change the result.