Mixed use Fannie Mae

[Pattyflower]

A mixed use property in orange county California has less that. 25% of it being used as commercial..

Does anyone know the following;

-"Can the appraisal report be written on either the standard Fannie Mae or Freddie Mac appraisal report formats for a residential loan (I think form 1004 or 1025)?

See link below

What is required for mixed-use properties?

selling-guide.fanniemae.com

 

[glenn walker]

A mixed use property in orange county California has less that. 25% of it being used as commercial..

Does anyone know the following;

-"Can the appraisal report be written on either the standard Fannie Mae or Freddie Mac appraisal report formats for a residential loan (I think form 1004 or 1025)?

See link below

What is required for mixed-use properties?

selling-guide.fanniemae.com

As its not considered income property and done on the 1004 and since the mixed use part is to be used by borrower-owner as I recall the commercial part is not appraised. Frankly I did my last one in LA County 5 years ago and that was it I am done with mixed use a real PITA. You may want to consider asking for it to be re-assigned there will be lots of stips and you will earn every dime you put into it.

 

[Pattyflower]

Part or it is rented

 

[Pattyflower]

Who could do this appraisal? Anyone interested?

 

[KONA]

I have done mixed use in the past and spent the better part of a week on the report...narrative. Not worth the time/money.

 

[Pattyflower]

I have done mixed use in the past and spent the better part of a week on the report...narrative. Not worth the time/money.

How much would you charge?

 

[KONA]

Charge for your time, if you have the knowledge to complete the assignment.

 

[glenn walker]

Fannie only insures

Part or it is rented

Fanni-Freddie-FHA- only purchase or insure the loan if the commercial portion is going to be used by the new buyer-owner.

 

[Pattyflower]

The commercial is going to be used by the owner who occupies the property ( as I said it is partly rented only). This would be a refinance

 

[Pattyflower]

This is the address 7561 center ave #36 Huntington beach CA 92647 it is a PUD mixed and has an HOA

Can the appraisal be written in any of the following format?
The 1004 form is for single family homes or the 1025 form is for apartment properties ranging from 2 to 4 units.?

Or what format should be?