Residential appraisal threshold raised from $250K to $400K

Dated: 10/24/2019

Views: 56

Federally related residential real estate transactions for properties under $400,000 will need evaluations instead of full appraisals, according to a report by the National Association of REALTORS®.

Photo of hands holding clipboard and writing on paperThe report follows last week’s decision by the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Board of Governors of the Federal Reserve System to formally accept a final rule raising the threshold for residential real estate appraisals from $250,000 to $400,000.

Examples of federally related transactions include loans from the Department of Veterans Affairs, the Federal Housing Administration or the Rural Housing Service, NAR reported, or non-Fannie Mae or Freddie Mac transactions.

Blog author image

Jose E. Perez

Jose E Perez is the broker and owner of EXIT Realty All Stars located in Braintree, and Brockton MA, helping both buyers and sellers with all of their real estate needs. He previously worked for Centu....

Latest Blog Posts

Residential appraisal threshold raised from $250K to $400K

Federally related residential real estate transactions for properties under $400,000 will need evaluations instead of full appraisals, according to a report by the National Association of REALTORS

Read More

Weymouth Real Estate Update!!

Weymouth is the second oldest township in the Commonwealth, dating back to 1622.  For almost two hundred years the town was a fishing and agricultural community, evolving into a manufacturing

Read More

Brockton Real Estate Stats

Brockton is the seventh largest city in Massachusetts with a population of about 95,000 people.  It is sometimes referred to as the "City of Champions", due to the success of native boxers

Read More

To Dos: Your January Home Checklist

January may be cold and dark, but it can also be a time for bold beginnings. Make the most of your month by clearing space in your home, boosting warmth and dreaming up plans for the year ahead.

Read More