Appraisal Agreement Form With 216
Description
How to fill out Appraisal Agreement - Self-Employed Independent Contractor?
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FAQ
Fannie Mae Form 1007 is used to provide an estimated market rent for the subject. Fannie Mae Form 216 is used to estimate the operating income associated with income-producing property.
Conventional 1025 Triplex with 216 Operating Income Statement. This counterpart to the 1004 form is used when appraising 2-4 family properties (multi-family).
When the security property for the mortgage that is being underwritten will be rented, an Operating Income Statement. (Form 216) must be obtained to provide the information needed to determine the cash flow and operating income derived from the rental property.
Description of Operating Income Statement Report-216 Form:Income and Expense projections are provided by the applicant to be used in determining income approach to value. Contact Us Today to SAVE on Appraisal Services!
The Small Residential Income Property Appraisal Report (FHLMC 72/FNMA 1025) is for the appraisal of two- to four-unit properties, including properties in PUD, condo or co-op projects.
