Real estate appraisals can be done in various ways, from forms to written narrative reports to verbal communication of a value. There are many types of appraisal forms because each serves a specific purpose.
The following is a comprehensive list of the different types of appraisal forms that appraisers typically use. Whether you need a home appraisal form, a commercial appraisal form, or a specialized investment property appraisal form, this guide covers all the essential real estate appraisal forms.
This list is updated for 2026
| Form | Property Type or Use | Inspection Type |
|---|---|---|
| 1004 | Single Family Home | Interior & Exterior |
| 1073 | Condominum | Interior & Exterior |
| 2055 | Single Family Home | Exterior Only |
| 1075 | Condominum | Exterior Only |
| 1004C | Manufactured Home | Interior & Exterior |
| 1025 | 2-4 Units | Interior & Exterior |
| 71A | Multi-Family (5+ Units) | Interior & Exterior |
| 71B | Multi-Family (5+ Units) | Interior & Exterior |
| GP Residential | Single Family Home | Interior & Exterior, Exterior, None |
| GP Condo | Condominum | Interior & Exterior, Exterior, None |
| GP Commerical | Commercial | Interior & Exterior, Exterior, None |
| GP Land | Land | Interior & Exterior, Exterior, None |
| GP 2-4 Unit | 2-4 Unit | Interior & Exterior, Exterior, None |
| 1004D | Appraisal Update or Completion | Interior & Exterior, Exterior |
| 1007 | Single-Family Rent Schedule | Interior & Exterior, Exterior, None |
| 216 | Operating Income Statement | Interior & Exterior, Exterior, None |
| 1004 Desktop/ 70D | Single-Family Home | None |
| 1004 Hybrid/ 70H | Single-Family Home | Inspection by Third Party (Not Appraiser) |
Understanding Appraisal Forms
An appraisal form is a standardized document used by real estate appraisers to document property valuations. These real estate appraisal templates provide a structured format for reporting property characteristics, comparable sales, and estimated market values. Different types of appraisal forms exist for different property types and purposes, from single family appraisal forms to complex commercial appraisal forms.
Residential Property Forms
Appraisal forms can be divided into a few categories, but the main two are residential and commercial forms. Residential appraisal forms are used for residential properties, and commercial appraisal forms are used for commercial properties.
Properties that are considered residential properties include single-family homes, condominiums, mobile homes, and 2-4 unit properties. These residential appraisals follow standardized Fannie Mae appraisal forms and FNMA appraisal forms developed for mortgage lending.
Fannie Mae and Freddie Mac developed the following six forms in 2005.
Interior and Exterior Inspection Forms
1004 – Single-Family Residential
The 1004 appraisal form is probably the most commonly used appraisal form for residential appraisers and is often referred to as the standard single family appraisal form. This is the primary home appraisal form used for conventional lending.
The 1004 is used when an appraiser is required to do an interior and exterior inspection. It is typically used when a lender is ordering an appraisal for a refinance or purchase transaction. This form is also known as the 1004 form in US mortgage transactions and is essential for creating a comprehensive real estate appraisal report.
This is the detached single-family residential form, as well as the townhouse appraisal form.
Here is a sample of a Form 1004 appraisal.
1073 – Individual Condominium
The 1073 form is probably the second most commonly used real estate appraisal form for residential properties. This condo appraisal form is the standard form for condominium appraisals.
This condominium appraisal form is used to produce an individual condominium unit appraisal report. The 1073 is similar to the 1004 form in that it was developed for conventional lending purposes. It differs in that it is used to appraise condominiums instead of single-family properties.
This form has many of the same fields, but many are condo-specific. This is the go-to condo appraisal form number for mortgage transactions.
Exterior Only Inspection Forms
The forms above are always used when an interior inspection of the property is required.
The following two forms are for when the property is only inspected from the exterior, commonly called an exterior-only appraisal or a drive-by appraisal.
These are, however, both still considered appraisal forms for conventional loans on residential properties.
2055 – Exterior-Only Single-Family Residential
The 2055 appraisal form is an exterior-only form for single-family homes and is only used when requested by the client. This drive by appraisal form allows appraisers to complete valuations without interior access.
The exterior only single-family form is typically used when the loan to value is low or access to the interior of the property is not possible. It is also used when servicing loans.
This 2055 exterior appraisal provides a faster turnaround time than full interior inspections.
1075 – Exterior-Only Individual Condominium
The 1075 appraisal form is similar to the 1073 form for individual condo units, but like the 2055 above, it is for exterior-only inspections. This exterior-only appraisal form for condos is used when full interior access is not necessary.
It has many of the same fields as the 1073 form, but some related to interior characteristics are removed.
Interior or Exterior Inspection
This is where it can get confusing. The following two forms can be used for either an interior or exterior inspection. Typically, they are used when a full inspection is required.
1004C – Manufactured Home
Like the 1004 and 1073 forms, the 1004C is also for residential properties but of a different sort. The 1004C form is the manufactured home appraisal form.
Many of the fields are similar to the single-family and condo forms, but many are specific to manufactured homes. This mobile home appraisal form addresses the unique characteristics of manufactured housing.
1025 – 2-4 Unit
The 1025 appraisal form is a little different than the previous ones, but I included it in the residential forms section because it is used for what is still considered a residential property—a 2-4 unit property.
This form is commonly referred to as the 2-4 unit appraisal form or the duplex/triplex/fourplex appraisal form. It is a little different in that it includes additional sections specific to 2-4 unit properties. These sections include rental comparables before the sales comparables and value indicators below the sales comparables.
This is the primary investment property appraisal form used for small multi-unit residential properties. Many people ask: Does appraisal form 1025 include the rent schedule? The answer is yes—the 1025 form integrates rental income analysis directly into the valuation process.
The form 1025 is essential for evaluating income-producing residential properties and is often used in conjunction with additional forms like the 1007 and 216.
Commercial Property Forms
Now that we have covered the residential appraisal forms, we will get into the commercial ones. There are only a few commercial appraisal forms because most commercial properties are appraised with written reports (narrative appraisal reports).
However, if the property is on the smaller side, or the client doesn’t need a full narrative appraisal report, then a form will typically be used.
71A & 71B – Commercial Multi-Family
These two forms are both used for the same type of property: multi-family properties (5 or more units). The 71A appraisal form and 71B appraisal form are the standard multi-family appraisal forms for larger residential income properties.
Both of these forms have the same base template and provide the same results in a similar methodology; the 71A is just a much more in-depth report. The 71B appraisal form is a condensed version of the 71A form.
These multi-family appraisal forms can be used for properties ranging from apartment buildings to large residential complexes.
GP Commercial
The third commercial appraisal form is the GP Commercial form.
‘GP’ stands for ‘General Purpose’ or a general-purpose form. GP forms will be explained more in the following section.
By the name, you can probably guess that this form can be used for any type of commercial property that isn’t overly large and/or complex. I have appraised everything from office buildings to religious facilities and retail buildings on the GP Commercial form.
It is very versatile and very easy to work with.
General Purpose (GP) Forms
Now, to go a little more in-depth with the General Purpose (GP) forms. The GP forms are a great series of real estate appraisal templates that include a special form for each type of property.
Often, these forms are used when the client simply wants to know an estimate of the market value of a property. They are also the forms you would want to use for estate-related appraisals, divorce appraisals, property tax appeal appraisals, etc.
The GP series of forms are not to be used for conventional lending purposes. GP forms can be used for interior/exterior inspections, exterior-only inspections, and desktop appraisals.
GP Residential
The GP Residential appraisal form is for single-family properties and would be used in place of the 1004 form. This general purpose form provides flexibility for non-lending appraisals.
GP Condominium
The GP Condo form is for individual condominium units and is used in place of the 1073 form for condominiums.
GP Commercial
The GP Commercial form, as explained above, is for non-complex commercial properties. This form can be used for a wide variety of commercial properties.
GP Land
The GP Land form is the form that is typically used if the client is looking to find the value of a parcel of land. This is the standard land appraisal form used by appraisers for vacant land valuations.
Usually, it is used for residential land, but it can also be used for commercial land. Whether you need a vacant land appraisal form or a land appraisal report form, the GP Land form provides the necessary structure for land valuations.
GP 2-4 Unit
The GP 2-4 unit is used for income properties that have 2 to 4 units. It is used in place of the 1025 form for non-lending purposes.
Supplemental Appraisal Forms
The major appraisal forms are summed up above, but there are some additional forms that serve other purposes.
These supplemental forms can be ordered as a complement to the major report or as a standalone report.
1004D – Appraisal Update or Completion Report
The 1004D is utilized when a client wants the appraiser to either: (a) verify that the value has not changed since the effective date of the prior appraisal, or (b) go back and reinspect the property to verify that something has been repaired or replaced.
This 1004D form in US mortgage transactions is an essential tool for updating existing appraisals without completing an entirely new valuation.
1007 – Single-Family Rent Schedule
The 1007 form is used as a supplement to the 1004/2055 forms talked about above. This 1007 appraisal form is crucial for investment property valuations.
This form is used to provide rental comparables and estimate the rental income for the subject property. This is typically used for investment properties. The 1007 form in US mortgage transactions helps lenders evaluate the income-producing potential of residential properties.
Many appraisers wonder: what is the difference between form 1007 and 216? The 1007 focuses on market rent comparables, while the 216 analyzes operating income and expenses. The 1007 and 216 appraisal forms are often used together for comprehensive investment property analysis.
216 – Operating Income Statement
The 216 appraisal form is usually ordered in conjunction with the 1007 form. It is used to determine the operating income of the subject property. The 216 form takes the market rent minus operating expenses to determine the operating income.
What is a 216 appraisal form? It’s an essential tool for income property analysis that breaks down revenues and expenses to determine net operating income. This appraisal form 216 is critical for evaluating the financial performance of rental properties.
The appraisal form 1025 with 216 combination provides a complete picture of investment property value by incorporating both market value and income analysis.
New Forms
Since writing this article, two new forms have been added to the appraiser’s repertoire. These are the 1004 Desktop and 1004 Hybrid appraisal forms, representing the evolution of appraisal types in the digital age.
Both of these forms are extremely controversial within the appraisal industry because of their lack of inspection and reliance on third-party data.
Lenders love these forms because they can charge less and get the reports back faster. Appraisers are mixed on these forms because they leave significant room for error.
1004 Desktop/70D – Single-Family Desktop
The 1004 Desktop form is used by Fannie Mae and Freddie Mac (70D) as a way to complete an appraisal on a property without having the appraiser do an inspection. Sometimes a floor plan will be provided to the appraiser, but often not.
This desktop appraisal form represents a new type of appraisal format that relies on data analysis rather than physical inspection.
1004 Hybrid/70H – Single-Family Hybrid
The 1004 Hybrid/70H form is similar to the 1004 Desktop form, but instead of no inspection, a third party inspects the property and provides a report to the appraiser. This hybrid appraisal form bridges the gap between traditional appraisals and desktop valuations.
Types of Appraisals and Appraisal Reports
When discussing real estate appraisals, it’s important to understand the different types of appraisal reports and appraisal formats available. The appraisal types vary based on property type, purpose, and level of detail required.
Types of Real Estate Appraisals
There are several types of real estate appraisals, each serving different purposes:
- Form Reports: Standardized appraisal forms like those discussed above
- Narrative Appraisal Reports: Detailed written reports for complex properties
- Restricted Appraisal Reports: Limited-use reports for specific clients
- Desktop Appraisals: Data-driven valuations without physical inspection
- Exterior Only Appraisals: Drive-by appraisals with no interior access
Types of Appraisal Format
The appraisal format can vary significantly based on the intended use. Common types of appraisal format include standardized forms, customized templates, and narrative formats. Each real estate appraisal format serves specific documentation and reporting needs.
Choosing the Right Appraisal Form
Selecting the appropriate property appraisal form depends on several factors:
- Property type (single-family, condo, multi-family, commercial, land)
- Purpose of the appraisal (lending, estate, divorce, tax appeal)
- Level of inspection required (full interior, exterior only, desktop)
- Income considerations (investment vs. owner-occupied)
For example, if you’re appraising a single-family home for mortgage lending, you would use the 1004 form. For a duplex investment property, you would use the 1025 appraisal form, often combined with the 1007 rent schedule and 216 operating income statement.
Appraisal Form Numbers Quick Reference
Here’s a quick reference guide to common appraisal form numbers and their uses:
- 1004: Single-family home (interior/exterior)
- 2055: Single-family home (exterior only)
- 1073: Condominium (interior/exterior)
- 1075: Condominium (exterior only)
- 1004C: Manufactured home
- 1025: 2-4 unit residential income property
- 1007: Single-family rent schedule
- 216: Operating income statement
- 1004D: Appraisal update/completion
- 71A/71B: Multi-family commercial
- 70D: Desktop appraisal
- 70H: Hybrid appraisal
Conclusion
Understanding the various types of appraisal forms is essential for anyone involved in real estate transactions, whether you’re a lender, appraiser, real estate agent, or property owner. From standard residential appraisal forms to specialized investment property appraisal forms, each serves a unique purpose in the valuation process.
Whether you need a simple home appraisal form or a complex multi-family appraisal form, this comprehensive guide to real estate appraisal forms provides the foundation for understanding which form to use and when. As the industry evolves with new appraisal forms like desktop and hybrid formats, staying informed about these real estate appraisal templates remains crucial for successful property valuations.
