List of Appraisal Report Forms
Lenders must ensure that appraisal reports are completed on one of the following Fannie Mae forms. The table below provides Fannie Mae’s acceptable appraisal report forms (see Single-Family Forms for a complete list).
|Uniform Residential Appraisal Report (Form 1004)||For appraisals of one-unit properties and units in PUDs (including those that have an illegal second unit or accessory apartment) based on interior and exterior property inspections. Form 1004 also may be used for two-unit properties, if each of the units is occupied by one of the co-borrowers as his or her principal residence or if the value of the legal second unit is relatively insignificant in relation to the total value of the property (as might be the case for a basement unit or a unit over a garage). In addition, appraisals for units in condo projects that consist solely of detached dwellings may be documented on Form 1004, if the appraiser includes an adequate description of the project and information about the homeowners’ association fees and the quality of the project maintenance. Appraisals reported on Form 1004 must be completed in accordance with the UAD Specification.|
|Manufactured Home Appraisal Report (Form 1004C)||For appraisals of one-unit manufactured homes (including manufactured homes in a PUD, condo, or co-op project, and MH Advantage properties) based on interior and exterior property inspections.|
|Individual Condominium Unit Appraisal Report (Form 1073)||For appraisals of one-unit properties in condo projects based on interior and exterior property inspections. Appraisals reported on Form 1073 must be completed in accordance with the UAD Specification.|
|Individual Cooperative Interest Appraisal Report(Form 2090)||For appraisals of one-unit properties in co-op projects based on interior and exterior property inspections|
|Small Residential Income Property Appraisal Report(Form 1025)||For appraisals of two- to four-unit properties (including two- to four-unit properties in PUD, condo, or co-op projects) based on interior and exterior property inspections.|
|Appraisal Update and/or Completion Report (Form 1004D)||For appraisal updates and/or completion reports for all one- to four-unit appraisal reports.|
For additional information, see B4-1.2-01, Appraisal Report Forms and Exhibits.