How many days prior to closing should the appraisal be delivered to the borrower?

The appraisal must be delivered to the borrower at least three business days prior to closing. This requirement is set forth by the federal regulations to ensure that the borrower has adequate time to review the appraisal results before the closing date. By allowing this timeframe, borrowers are provided the opportunity to understand the value of the property and verify that there have been no discrepancies that could impact their financing decision. This practice enhances transparency in the mortgage process and helps protect consumer rights.

Other options represent shorter timeframes which would not satisfy the regulatory requirement, potentially leaving the borrower without sufficient time which could lead to disputes or concerns about the appraisal's results just prior to finalizing the transaction. This three-day window is crucial in maintaining a fair and informed closing process.