Get the free Fannie Mae Form 1025 (Old Form) - Tomaino Appraisal, LLC

DOMAIN APPRAISAL SUBJECT SMALL RESIDENTIAL INCOME PROPERTY APPRAISAL REPORT File No. Case No. Zip Code Property Address City State County Legal Description Assessor's Parcel No. Tax Year R.E. Taxes

How to fill out fannie mae form 1025

How to fill out Fannie Mae Form 1025:

1. Start by carefully reading the instructions provided on the form. Familiarize yourself with the layout and the required information.
2. Begin by supplying the necessary identification information in Section A, which includes the lender's name and address, the property address, and the borrower's name.
3. In Section B, input the property's legal description, including the address, lot and block numbers, and any additional details such as condo unit numbers.
4. Provide information about the property's occupancy status in Section C. Indicate whether it is owner-occupied, a second home, or an investment property.
5. Proceed to Section D, where you will detail the rental income generated by the property. Include the gross monthly rent, the vacancy rate, and any adjustments or concessions.
6. Section E requires information on the operating expenses related to the property, such as property taxes, insurance premiums, utilities, and maintenance costs.
7. In Section F, disclose any additional income generated by the property that is not from rent. This may include laundry facilities, parking fees, or other sources of revenue.
8. Section G focuses on the various financial aspects of the property, including the purchase price, loan amount, interest rate, and terms of the mortgage.
9. Complete Section H by providing information about the property's physical characteristics, such as the number of units, bedrooms, bathrooms, and square footage.
10. In Section I, list any repairs or improvements that are needed or have been made to the property, along with the associated costs.
11. Finally, review the form for accuracy and completeness before signing and dating it.

Who needs Fannie Mae Form 1025?

1. Real estate appraisers: Fannie Mae Form 1025 is primarily used by licensed appraisers when evaluating properties for mortgage lending purposes. It helps determine the property's value based on its income-generating potential.
2. Lenders: Lenders utilize this form to assess the financial viability and value of an income-generating property. It aids in the decision-making process regarding mortgage approvals and loan amounts.
3. Borrowers: Borrowers involved in the purchase or refinancing of a multifamily property may be required to provide the information requested in Fannie Mae Form 1025. This form assists in demonstrating the property's value and potential profitability.

Overall, Fannie Mae Form 1025 is an essential tool for evaluating income-producing properties and plays a crucial role in the mortgage lending process.

For pdfFiller’s FAQs

What is fannie mae form 1025?

Fannie Mae Form 1025 is a form used to report the appraisal of a one-unit property or a one-unit property with an accessory unit.

Who is required to file fannie mae form 1025?

The lender or financial institution financing the loan is required to file Fannie Mae Form 1025.

How to fill out fannie mae form 1025?

Fannie Mae Form 1025 must be filled out by a certified or licensed appraiser who inspects the property and provides an appraisal report.

What is the purpose of fannie mae form 1025?

The purpose of Fannie Mae Form 1025 is to provide an accurate appraisal of the property being financed to help determine its value.

What information must be reported on fannie mae form 1025?

Fannie Mae Form 1025 requires information about the property's location, size, condition, comparable properties, and the appraiser's estimate of the property's value.

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