What is the 3-day appraisal rule?

The 3-day appraisal rule is a federal consumer protection: a lender must provide the borrower a copy of the appraisal as soon as reasonably possible, but no later than three days before closing. Borrowers cannot be charged a fee for copies of the appraisal, though they may be charged a reasonable fee for the lender's cost of preparing it.

Under federal lending rules for a first-lien mortgage, you have the right to receive a free copy of your home appraisal no later than three days before the loan closes. The Oregon Appraiser Certification and Licensure Board confirms this right on its consumer information page.