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FNMA Form 571 Reference Guide Fannie Mae Selling Guide National Association of Realtors here are the main sections in the Fannie Mae Selling Guide that address appraisal requirements along with a

How to fill out fnma form 571 reference

How to Fill Out FNMA Form 571 Reference:

1. Start by obtaining a copy of FNMA Form 571 Reference. This form is typically used by lenders, appraisers, and other real estate professionals to provide property references for single-family dwellings.
2. Begin by entering the borrower's name, address, and Social Security Number in the designated fields. Make sure to double-check the accuracy of this information.
3. Proceed to the "Property Information" section. Fill out the property address, including the street, city, state, and zip code. Include any applicable unit or apartment numbers.
4. Provide a detailed description of the property. Include the number of bedrooms and bathrooms, square footage, and any additional relevant information about the property's features.
5. Indicate the property type on the form. You can choose from options such as detached, attached, condominium, cooperative, manufactured home, or other.
6. If the property is a condominium or cooperative, provide the name of the project or development, along with the unit number if applicable.
7. Enter the estimated value of the property in the designated field. This should reflect the fair market value as determined by the appraiser or lender.
8. Include any supporting data or analysis used to determine the property value. This may include comparable sales data, market studies, or other relevant documents.
9. If there are any pending or contemplated repairs or alterations to the property, describe them in detail on the form.
10. Sign and date the form to certify the accuracy of the information provided.

Who needs FNMA Form 571 Reference?

1. Lenders: Lenders may require FNMA Form 571 Reference when processing a loan application for a single-family dwelling. This form helps them assess the property's value and suitability for financing.
2. Appraisers: Appraisers use FNMA Form 571 Reference to provide property references when conducting an appraisal. The form helps them document relevant details about the property and support their valuation.
3. Real Estate Professionals: Real estate agents, brokers, and other professionals involved in property transactions may require FNMA Form 571 Reference to provide accurate and comprehensive information about the property to potential buyers, sellers, or lenders.

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