Introducing the Hybrid Appraisal Report for Condos

In the February 2024 update to the Selling Guide, Fannie Mae made condos eligible for value acceptance and property data. If there are changes to the loan after property data collection, Fannie Mae will accept a hybrid appraisal based on that data. To include condos, they introduced the Individual Condominium Unit Appraisal Report (Hybrid).

While detached condos can still use traditional appraisals, all condos (attached or detached) needing hybrid appraisals must use the Individual Condominium Unit Appraisal Report (Hybrid), according to Selling Guide B4-1.2-03.

​Source: Fannie Mae