Freddie Mac 70 / Fannie Mae 1004 2005-2025 free printable template

Uniform Residential Appraisal Report File # The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of

How to fill out standard residential appraisal form

How to fill out Freddie Mac 70 / Fannie Mae 1004

1. Start with the borrower information: Fill in the borrower's name, contact information, and social security number.
2. Complete the property information: Enter the address, property type, and legal description.
3. Provide the loan details: Specify the loan amount, type of loan, and date of application.
4. Fill in the appraisal information: Include the date of the appraisal, the appraiser's name, and their license number.
5. Detail the property characteristics: Include room count, square footage, year built, and any significant upgrades or features.
6. Evaluate comparable sales: List and analyze properties that are similar to the subject property for comparison.
7. Assess the market conditions: Discuss the current real estate market and recent trends that may affect the property's value.
8. Compile the final valuation: Provide a final estimate of value based on your analysis and reasoning.
9. Review all sections for accuracy and completeness before submission.

Who needs Freddie Mac 70 / Fannie Mae 1004?

1. Mortgage lenders and underwriters requiring a formal property appraisal for loan approval.
2. Real estate agents needing to understand market values and assist clients with pricing.
3. Home buyers and sellers wanting a professional appraisal to understand property worth.
4. Investors assessing property values for investment decisions.

• Who needs a Uniform Residential Appraisal Report?
• What is the Uniform Residential Appraisal Report?
• Is the Uniform Residential Appraisal Report accompanied by other forms?
• • When is the Uniform Residential Appraisal Report due?
  • How do I fill out the Uniform Residential Appraisal Report?
  • Where do I send the Uniform Residential Appraisal Report?

Who needs a Uniform Residential Appraisal Report?

A private property owner fills out the report to provide the lender/client with an accurate and adequately supported opinion of the market value of the subject property. The intended user of this appraisal report is the lender/client.

What is the Uniform Residential Appraisal Report?

The Uniform Residential Appraisal Report (URAL form or Fannie Mae 1004 form) is one of the common forms utilized for real estate appraisal. It was created for analysis of conditions and evaluation of single-family dwellings or single-family dwellings with an “accessory unit” (including a unit in a planned unit development) but is not meant to be used for appraisals of manufactured homes or condominiums. Lenders will apply for the report each time a property is purchased or refinanced. All information provided in the report is used to appraise the actual value of the property.

Is the Uniform Residential Appraisal Report accompanied by other forms?

The fillable appraisal form is not accompanied by any other forms.

When is the Uniform Residential Appraisal Report due?

While you may never see an expiration date on a real estate appraisal forms, many lenders will not accept an appraisal that is more than 120 days old because the property values are changeable.

How do I fill out the Uniform Residential Appraisal Report?

There are several boxes you will need to fill out in the Uniform residential appraisal form: 1) Property Description; 2) Neighborhood and PUD (an overview of the history of that particular area); 3) Site (covers the property specs); 4) Value; 5) Final Determination.

The report requires interior and exterior inspection of the subject property, a street map that shows the location of the subject property, an exterior building sketch of the improvements that indicates the dimensions.

Where do I send the Uniform Residential Appraisal Report?

The Certified contract must be sent to the client/lender.

Video instructions and help with filling out and completing fillable uniform residential appraisal report

Instructions and Help about form 1004 fannie

What is form 1004?

A URAR form, also known as Fannie Mae Form 1004, contains information needed to complete a full appraisal of a property using three primary approaches to determine value: cost approach, sales comparison approach and income approach. ... Basic information including address, legal description, owner's and/or borrower's names.

People Also Ask about fannie mae form 1004 fillable

What is form 1004 used for?

This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit; including a unit in a planned unit development (PUD).

What does 1004 mean in real estate?

Form 1004 is also known as the Uniform Residential Appraisal Report (URAR) and is used by appraisers to report their findings to lenders ( to determine the value of a property).

What is form 1004 on an appraisal?

This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit; including a unit in a planned unit development (PUD).

What is the difference between a 1004 and 1025 appraisal?

Keep in mind that Form 1004C is used for appraising single-family manufactured housing, while Form 1073 is used for condominium units. On the other hand, Form 1025 is for small multi-family investment properties.

What is form 1004 also known as?

A URAR form, also known as Fannie Mae Form 1004, contains information needed to complete a full appraisal of a property using three primary approaches to determine value: cost approach, sales comparison approach and income approach.

What does 1004 mean in mortgage?

What is a 1004 form? A 1004 appraisal form is considered to be one of the most commonly used forms in residential real estate appraisals. In ance with USPAP a 1004, or URAR, is completed when estimating the market value of a single-family dwelling complete with an exterior and interior inspection.

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What is Freddie Mac 70 / Fannie Mae 1004?

Freddie Mac 70 / Fannie Mae 1004 is a standard appraisal form used in real estate transactions to assess the value of a residential property. It is primarily used by appraisers to determine the market value of single-family homes.

Who is required to file Freddie Mac 70 / Fannie Mae 1004?

Lenders who are seeking to obtain mortgage financing for single-family properties are required to file the Freddie Mac 70 / Fannie Mae 1004 appraisal report as part of the loan application process.

How to fill out Freddie Mac 70 / Fannie Mae 1004?

To fill out the Freddie Mac 70 / Fannie Mae 1004, the appraiser must provide detailed information about the property, including its physical characteristics, location, comparable sales data, and an analysis of the market conditions. Each section of the form must be completed accurately according to the guidelines provided by Freddie Mac and Fannie Mae.

What is the purpose of Freddie Mac 70 / Fannie Mae 1004?

The purpose of the Freddie Mac 70 / Fannie Mae 1004 form is to provide a uniform method for appraisers to report their findings on the value of a property. This standardization helps ensure consistency and reliability in the appraisal process, which is crucial for lenders and investors.

What information must be reported on Freddie Mac 70 / Fannie Mae 1004?

The information that must be reported on the Freddie Mac 70 / Fannie Mae 1004 includes property details (address, type, age, size), the appraiser's qualifications, neighborhood data, description of comparable properties, adjustments made to the comparative value, and the final estimated value of the property.