American Dream Loan Program

[RSW]

I received an appraisal order today and it says this is an American Dream loan. Please inspect property accordingly. I am not familiar with the American Dream loan program. I Googled it and found some references that it may be a HUD program. Does anyone know about this program and what are the appraisal requirements? I am going to assume that it falls under the HUD/FHA appraisal protocol for the time being.

 

[J Grant]

Check with your client. I have never heard of it, could just be a descriptive name .

 

[Peter LeQuire]

http://portal.HUD.gov/hudportal/documents/huddoc?id=20604_brochure.pdf

 

[J Grant]

good update above, always pays to search and see if info is on the internet.

 

[Peter LeQuire]

I didn't look any further, but it appears to be a down payment assistance program connected to a HUD loan, and I'd suppose that the property requirements are those you're familiar with.

 

[bnmappraisal]

Thanks for the link/info Peter

I would assume you just do a typical FHA appraisal

 

[RSW]

That's what I thought, too. I have a call into the lender for guidance.