Foot appraisal form 1007-2026

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The document is a SQUARE FOOT APPRAISAL FORM (Form 1007) used for evaluating residential properties. It includes sections for property details such as type, quality, age, and condition, as well as calculations for basic costs, adjustments, and depreciation to determine the total indicated value of the property.

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Click ‘Get Form’ to open the foot appraisal form 1007 in the editor.
Begin by entering the property owner's name and address in the designated fields. Ensure accuracy for effective communication.
Select the property type from options such as Single Family, Town House, or Manufactured. This helps categorize the appraisal correctly.
Indicate the quality of the property by choosing from Low to Excellent. This assessment is crucial for determining value.
Fill in the floor area details for each level of the property, including total square footage. Accurate measurements are essential for valuation.
Complete sections on age, condition, and style of the property. These factors significantly influence appraisal outcomes.
Review all entries for completeness and accuracy before saving your work. Utilize our platform's features to make any necessary adjustments easily.

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How to get a 1007 form?

A form 1007 is only for use with conventional single-family investment properties and should be prepared by a certified appraiser and included as an attachment to the appraisal for the property.

What is a 1007 form on an appraisal?

Form 1007 is used to estimate the monthly market rent of single-family properties or condominium investment properties. Some lenders require this form when rental income is used to qualify for lending. The form can be used alone or with lease agreements when purchasing property.

How long does a 1007 take?

Completing Form 1007 in 5 Minutes or Less Collect details about the subject property, including the number of units, rent amounts, lease terms, and property amenities. Research the local rental market to find comparable properties.

What is form 1007 used for?

Conclusion. Form 1007 is used to document monthly rents of comparable properties when assessing real property value. The same considerations are made to determine the value of the property as in a standard appraisal, including age, condition, and description of the property and location.

Does a 1007 require photos?

At a minimum, when completing the Appraisal Update portion of the report, a photograph of the front of the subject property must be included. Required if the property is a one-unit investment property and the borrower is using rental income to qualify. Otherwise, Form 1007 is not required.

1007 rent schedule

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What is the Fannie Mae 1007 form intended to do?

Recently, Fannie Mae has received many questions about the Single-Family Comparable Rent Schedule (Form 1007). It enables the appraiser to document the estimation of monthly market rent for the subject property when completing an appraisal on a single-family investment property for conventional lending.

Foot appraisal form 1007-2026

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How to use or fill out foot appraisal form 1007 with our platform

See more foot appraisal form 1007 versions

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Got questions?

How to get a 1007 form?

What is a 1007 form on an appraisal?

How long does a 1007 take?

What is form 1007 used for?

Does a 1007 require photos?

Complete this form in 5 minutes or less

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What is the Fannie Mae 1007 form intended to do?

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