If you have a strong credit history and are working with a lender who uses an automated underwriting system – most lenders do – you may be able to forgo a home appraisal altogether.
Skipping a home appraisal can save you money upfront and may help you close on your home faster, but you also run the risk of overpaying on a home. It’s important to assess your own financial situation and timeline and make an informed decision that best meets your needs.