Appraisal Waivers Explained: How Value Acceptance and ACE Work for Florida Conventional Buyers
Fannie Mae's Value Acceptance program has delivered 5.34 million loans and $3 billion in borrower savings since 2018, and Freddie Mac's equivalent, Automated Collateral Evaluation (ACE), has saved borrowers over $2.3 billion on its own. If you're financing a Florida home with a conventional loan, here's how these appraisal alternatives actually work — and why you can't simply ask for one.
What Value Acceptance and ACE actually are
Per Fannie Mae's Property Valuation page, value acceptance "is Fannie Mae's offer to accept the lender-submitted property value in Desktop Underwriter (DU) with no appraisal requirement for eligible transactions." Freddie Mac's version, detailed on its Automated Collateral Evaluation page, works the same way through its Loan Product Advisor (LPA) system. Both rely on decades of historical appraisal data and public records — Freddie Mac cites 40 years of data — to assess collateral risk without sending an appraiser to the property.
The term "appraisal waiver" is now retired industry-wide in Fannie Mae's own materials in favor of "value acceptance," though the two terms describe the same underlying process.
How a Florida buyer actually gets one
There's no application for a waiver. Per Fannie Mae, the offer is generated automatically: "value acceptance offers are available to all lenders through DU. There are no prerequisites and no registration process." Your lender submits your loan casefile — with your contract price for a purchase, or your estimated value for a refinance — and the system either returns a value acceptance offer or requires a standard appraisal. Freddie Mac's process works the same way through LPA.
Two details matter for Florida buyers specifically: an appraisal already uploaded for the property within the prior 120 days makes the file ineligible for a Fannie Mae waiver, and eligibility can vary based on your loan-to-value ratio, occupancy, and property type. Fannie Mae announced in October 2024 that starting in Q1 2025, eligible purchase-loan LTVs for value acceptance on primary residences and second homes expanded from 80% to 90% — meaning more Florida buyers with smaller down payments became eligible for a waiver offer than in prior years.
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Check My Eligibility No credit pull to beginWhat a waiver actually saves you
| Benefit | What the source says |
|---|---|
| Appraisal fee | Freddie Mac: borrowers "skip the appraisal fee - saving on average $600." |
| Closing timeline | Freddie Mac: ACE loans close on average 14 days faster for purchases, 12 days faster for refinances (Q2 2025 data). |
| Total borrower savings | Freddie Mac: over $2.3 billion saved as of September 2025. Fannie Mae: $3 billion since 2018 across 5.34 million loans. |
| Lender relief | Fannie Mae: lenders get relief from certain representations and warranties tied to property value when a value acceptance offer is exercised. |
Where a waiver isn't the right move — or isn't available
A waiver isn't universal. Value acceptance + property data — a lighter-touch alternative that still uses a trained data collector to check the property's condition — kicks in when Fannie Mae's system needs a current view of the property but not a full appraisal. Unique properties, homes needing a fresh valuation due to condition concerns, or files where your lender has reason to believe the submitted value doesn't hold up will still require a traditional appraisal regardless of what the automated system initially returns — lenders are required to order one if they have information suggesting it's warranted.
If your purchase involves a condo, remember that project-level approval is a separate question from the individual unit's valuation. See our guide on conventional condo loans in Florida for how that process works alongside any appraisal alternative.
What this doesn't change
A value acceptance or ACE offer changes how your property's value gets confirmed — it doesn't change your qualifying requirements. Your credit, income, debt-to-income ratio, and down payment guidelines are unaffected. And the value used is still tied to your actual contract price or refinance estimate, not an inflated number — Fannie Mae and Freddie Mac are validating that submitted figure against their own data, not replacing it with a higher one.
Frequently Asked Questions
Can I ask my lender for an appraisal waiver on my Florida purchase?
Not directly. Value acceptance and ACE offers are generated automatically when your lender submits your loan casefile to Desktop Underwriter or Loan Product Advisor — there's no separate application or request process.
What's the difference between value acceptance and value acceptance + property data?
Value acceptance waives the appraisal entirely using data and modeling. Value acceptance + property data still waives the traditional appraisal but requires a trained third party to collect current property data on-site to confirm condition.
Does a lower down payment disqualify me from a waiver?
Not automatically. Fannie Mae expanded eligible purchase-loan LTVs for value acceptance from 80% to 90% for primary residences and second homes starting in Q1 2025, which widened eligibility for buyers with smaller down payments.
Will ordering my own appraisal help my chances of a waiver?
No — the opposite. Fannie Mae will not offer value acceptance if an appraisal has already been uploaded for the property within the prior 120 days, so ordering one preemptively can eliminate your waiver eligibility.
Do appraisal waivers apply to condos in Florida?
They can apply to the individual unit's valuation, but condo project-level approval is a separate underwriting step. A waiver on your unit's value doesn't remove the need for the building itself to meet Fannie Mae or Freddie Mac's project standards.
Wondering whether your specific Florida purchase or refinance could see a value acceptance offer? Reach out to Joe Pistone & Team — we'll run your scenario through the system and walk you through exactly what comes back, and for today's pricing, just ask Joe.
Sources: Fannie Mae, Value Acceptance (Property Valuation); Freddie Mac, Automated Collateral Evaluation (ACE); Fannie Mae Newsroom, Changes to Appraisal Alternatives Requirements (October 28, 2024).