How do I become a bank or mortgage appraiser?

To appraise properties for mortgage lending, you need a credential recognized under federal rules. The Delaware Council on Real Estate Appraisers issues three such credentials: licensed real property appraiser, certified residential, and certified general, and all three appear on the federal Appraiser Registry. A trainee license does not qualify; trainees cannot independently appraise property for federally related transactions. You apply by examination through the DELPROS online system after completing the required education and experience hours.

Bank and mortgage appraisal work involves federally related transactions, which only state-credentialed appraisers may perform. In DC, you start with an Appraiser Trainee credential, which takes 83 hours of qualifying education plus a 4-hour supervisory course, then log experience under a supervisory appraiser or complete PAREA, the online alternative. You can then qualify as a Licensed Residential appraiser with 158 hours of education, 1,000 hours of experience in no fewer than 6 months, and a passing score on the national exam.

To appraise properties for banks and mortgage lenders, you need a state appraiser credential. Federal law requires state licensure or certification for appraisals in federally related transactions, and a trainee cannot appraise independently for those lenders. In Rhode Island, you start as a Licensed Trainee working under a supervisory appraiser, then upgrade to Licensed Residential, Certified Residential, or Certified General.

To appraise properties for banks and mortgage lenders, you must hold a South Dakota appraiser credential from the Department of Labor and Regulation, because federally related transactions require a state-licensed or state-certified appraiser. You choose a level, State-Licensed, State-Certified Residential, or State-Certified General, and complete its education, experience, and examination requirements. For FHA work, you must hold a Certified Residential or Certified General credential and be listed on the Appraisal Subcommittee's National Registry through the FHA Appraiser Roster.