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

Manufactured Home Appraisal Report File # S U B J E C T The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market

How to fill out 1004c appraisal form

How to fill out Freddie Mac 70B / Fannie Mae 1004C

1. Obtain the Freddie Mac 70B or Fannie Mae 1004C form from the official website or your lender.
2. Fill in the borrower's name and address at the top of the form.
3. Provide details of the location, property type, and legal description in the designated sections.
4. Indicate the purpose of the appraisal, such as purchase, refinance, or loan modification.
5. Complete the information about the subject property, including the number of units, year built, square footage, and amenities.
6. Include details about the neighborhood and market conditions in the appraisal section.
7. Report the condition of the property and any repairs needed or improvements made.
8. Fill out the income approach, cost approach, and sales comparison approach as applicable.
9. Verify that the valuation conforms to local regulations and market norms.
10. Sign and date the form before submitting it to the lender or relevant authority.

Who needs Freddie Mac 70B / Fannie Mae 1004C?

1. Homebuyers seeking financing for a property purchase.
2. Homeowners refinancing their existing mortgage.
3. Real estate appraisers performing property valuations.
4. Lenders and financial institutions assessing property value for loans.
5. Investors evaluating property for investment opportunities.

Video instructions and help with filling out and completing manufactured home appraisal form

Instructions and Help about fannie manufactured home

Hi everyone Terrence Brandy here and in this video I'm going to walk you through the standard loan application form also known as the uniform residential loan application which is a standardized form created by Fannie Mae and used in every residential mortgage transaction regardless of whether it's a refinancing construction or purchase and this is an important application in that it kick-starts the entire loan process, and it's important to put accurate and detailed information on this because this is what lenders and banks are going to be using to determine your ability to secure mortgage loan based on this information so with that said we'll jump in the first section is the type of mortgage in terms of the loan and if you're applying for a loan you may not know what type of loan product you're going to be applying for or the terms of those of the loans every loan is different and so you know you may know the amount the loan amount so say if you're going to be purchasing a home for $400,000, and you're going to be putting a down payment of $100,000 the loan amount would be three hundred thousand, so you can put that in box there you may not know what the going interest rates are and really a lot of that's going to be determined by your conversations with your loan originator so if you do know this information great I'll kind of put in what today's rates for a 30-year fixed about three and a percent and number of months it's going to be the number ones for the loan and a 30-year fixed across our time is twelve months is 360 months, and it's a fixed rate product so with that we'll go down to our two section two and pretty self-explanatory this is where you're going to put the address for the property you're attempting to secure a loan against so if it's your current home, and you already have a mortgage on, and you're looking to refinance you'll just put your current address if it's a property that you are purchasing well then you'll put the address of that said property as far as the number of units if it's single-family residence it's one unit residential mortgage loans all the way up to four units so duplexes triplexes quad or four unit properties the legal description you can leave blank we'll pull that information from the title report as well as the year build the purpose alone pretty self-explanatory in this case we're going to say its purchase and this section here is fairly important this is determining how you're going to be occupying the property and if it's going to be your primary residence whether it's going to be secondary residence which is like a vacation home or if it's going to be an investment property which is also known there's non-owner occupied meaning you're not going to be occupying the property that you'll probably be leasing it out to a tenant, so this is very important to be to disclose what your intentions are with the purchases' property we're going to save right now that it's going to be our primary residence this...

People Also Ask about form 1004c

What does a 1025 appraisal include?

This report form is designed to report an appraisal of a two- to four-unit property, including a two- to four-unit property in a planned unit development (PUD).

What is a 70B appraisal form?

Manufactured Home Appraisal Report Form 70B is designed to report the results of an appraisal of a 1-unit Manufactured Home, including a Manufactured Home in a Planned Unit Development (PUD).

What is a 1004C appraisal form?

The Manufactured Home Appraisal Report (Fannie Mae Form 1004C/Freddie Mac Form 70B) is a stand- alone appraisal report form designed exclusively to report an appraisal of a 1-unit manufactured home, based on an interior and exterior inspection of the subject property.

What is the difference between form 1073 and 1004?

For a detached unit in a condo project that includes a mixture of both attached units and detached units, the condo appraisal form Form 1073 must be used even when the subject unit is a detached unit. The appraiser may only use Form 1004 for a detached condo unit when the project consists solely of detached units.

What is the most commonly used land appraisal report form?

The Uniform Residential Appraisal Report (URAR) is widely considered to be one of the most common forms used in real estate appraisal. The form, which allows for standard reporting and analysis of single family dwellings, applies to a one-unit property or one-unit property with an accessory unit.

What is an appraisal form 1073?

Form 1073 is the second most commonly used property appraisal form for residential properties. This form is used for appraising condominiums. Essentially, it is the same form as Form 1004 and also serves the same purpose.

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What is Freddie Mac 70B / Fannie Mae 1004C?

Freddie Mac 70B and Fannie Mae 1004C are standardized appraisal forms used to assess the value of a manufactured home.

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

Lenders and appraisers involved in the financing of manufactured homes are required to file these forms to ensure proper valuation.

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

To fill out the form, appraisers must provide specifics about the property, including its condition, features, and comparable sales data.

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

The purpose of these forms is to provide a consistent methodology for appraising manufactured homes, ensuring fair market value assessments.

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

Essential information includes property details, site characteristics, improvements, and comparable sales data that support the appraised value.