In 2001, Fannie Mae agreed to the "Community Land Trust Option", creating the potential for CLT homebuyers to access Fannie Mae mortgage products. At that time, Fannie Mae also established guidelines for establishing the value of CLT leasehold properties. This appraisal methodology has created an "industry standard" of sorts, used for valuation of CLT properties regardless of the type of mortgage product under consideration.
Posted with the permission of Fannie Mae.
Click here to download Fannie Mae's appraisal guidelines
Posted by Mike Brown at August 3, 2005 02:10 PM
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