The 2045 Appraisal Form is a key document in the mortgage lending process. Licensed appraisers complete it to estimate the market value of single-family homes and individual condo units. Lenders require it before approving non-owner occupied refinance loans or purchase money mortgages.
Licensed real estate appraisers are the primary users of the 2045 form. Mortgage lenders, banks, and credit unions use the completed form to support their underwriting decisions. Buyers, sellers, and property owners may also review it to understand a property's appraised value.
The form collects detailed data about the subject property. It records the address, legal description, lot size, gross living area, and room count. It also notes the property's condition, any improvements, and relevant market trends for the local area.
Appraisers use the sales comparison approach to support their value conclusion. They select three to five comparable sales from nearby neighborhoods. Each comparable is adjusted for differences from the subject property, such as size, condition, and amenities. The adjusted values are then used to support a final opinion of market value.
Other appraisal documents you may need include the standard Appraisal Form for general residential use, the AIR Appraisal Certification Form, and the Fannie Mae 1037 Form for desk review appraisals. For mortgage lending, the FHA Refinance Authorization is often submitted alongside the appraisal.
| Question | Answer |
|---|---|
| Form Name | 2045 Appraisal Form |
| Form Length | 5 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 1 min 15 sec |
| Other names | mae 2045, form 2045, 2045 appraisal 2055 get, 2045 fillabe mae pdf |