For lenders seeking solutions beyond traditional appraisals, NAN offers a variety of Specialty Appraisal products so you can always choose what best suits your collateral underwriting needs.
What Specialty Appraisal Products Does NAN offer?
New Construction Appraisal
A new construction appraisal is an appraisal completed by examining the estimated value of the home using the home plans and specifications and comparing them to nearby comparable sales.
Private Money Appraisal
Many private lending companies are groups of investors who pool their capital to finance loans. The application requirements may differ from traditional lenders.
An REO (Real Estate Owned) property has already gone through the foreclosure process and the mortgage lender or bank has taken ownership of it as a result of a failed foreclosure sale.
Renovation loan allows borrowers to buy the home they want and pay for their desired renovations and repairs all under a single loan. This applies to Fannie Mae Homestyle Renovations Mortgage, FHA 203 (k) Rehab Loan and Freddie Mac CHOICERenovation®.
A retrospective appraisal is an appraisal performed at the present time with an effective date as of a date in the past. Value is developed and supported from historic data relative to the time frame of the effective date of the appraisal.
An appraisal review, as the name indicates, is an evaluation of an appraisal report, which ensures that it complies with USPAP and is a general part of a quality control and risk management program for the lender.
Reverse Mortgage Appraisal
A reverse mortgage is a financial agreement in which a homeowner relinquishes equity in their home in exchange for regular payments, typically to supplement retirement income. A complete FHA appraisal is required to obtain a reverse mortgage.
Before real estate investors receive approval for a loan to buy any type of commercial real estate, they need to attain a commercial real estate appraisal. A Commercial appraisal is a value assessment on an income-generating property.