An appraisal waiver means your lender doesn’t require a traditional home appraisal for your loan, often because your qualifications and the property meet certain criteria. Waiving the appraisal
First, this is normally only a requirement because you are not on the mortgage. Second, its a mortgage requirement to ensure large deposits for the purchase of the home are NOT new loans. The gift letter states that NO repayment of the funds is required.
