A 1073 appraisal report is the Individual Condominium Unit Appraisal Report, Fannie Mae Form 1073 (Freddie Mac Form 465): the form lenders have used to appraise one unit in a condominium project after an interior and exterior inspection. It reports the unit like a house report would, and adds the project, its homeowners' association and its assessment, with comparable sales chosen for condos. For reports submitted to Fannie Mae and Freddie Mac on or after November 2, 2026, the 1073 is retired, and the condo unit is reported on the redesigned Uniform Residential Appraisal Report (URAR) instead.
The pillar guide to what changes on the form for condos and manufactured homes sets it in context, and the condominiums and manufactured homes hub lists the series.
What the 1073 is for, and what it is not for
Fannie Mae's Selling Guide lists the Form 1073 for traditional appraisals of one-unit properties in condo projects based on interior and exterior inspections. Two neighbors on the same list are easy to confuse with it. The Form 1004C is for one-unit manufactured homes, including a manufactured home inside a condo, PUD or co-op project, and the Form 2090 is for a unit in a cooperative.
Freddie Mac's list of retired legacy forms also includes the 1073 Desktop and 1073 Hybrid versions, where the appraiser does not inspect the unit in person, and the Form 1075, the exterior-only condo report.
A condominium project, for this purpose, is a development where each owner holds title to a unit and shares ownership of the common elements, the parts owned in common such as grounds, roofs, hallways and recreation facilities. A townhome can be a condo unit or a lot in a planned unit development (PUD), a subdivision whose common property is owned and maintained by an HOA while each owner holds title to a lot and the structure on it. Units in PUDs are listed under the Form 1004, so the recorded documents, not the building style, decide which report fits.
What the 1073 covers
The report has three jobs: describe the unit, describe the project, and compare the unit with sales a buyer would weigh.
- The unit. An interior and exterior inspection, condition and finishes, and the living area. Fannie Mae requires interior perimeter measurements when the appraiser measures an apartment unit in a condo building; a townhome is measured under the ANSI standard used for other single-family dwellings.
- The project. Fannie Mae directs the appraiser to give special attention to the unit's location within the project, the project's amenities, and the amount and purpose of the owner's association assessment. The project's dues, any special assessment, its common elements and anything unusual the appraiser learns from the HOA documents belong here.
- The comparables. Sales of similar units, from the same project first, adjusted for the differences buyers pay for, then reconciled into one opinion of market value as of the effective date, the date the opinion applies to.
A special assessment is a charge the association levies on owners on top of regular dues, usually for a specific repair or project. The Claremont guide to project data, HOA documents and same-project sales covers the documents the project section draws on.
How condo comparables are chosen
Units in one project share dues, common elements, rules and buyers, so a same-project sale of a similar plan usually needs the fewest adjustments. Fannie Mae makes it explicit for new or recently converted projects: the unit is compared with sales inside the project and in the same market area, using at least one settled sale from inside the project and at least one from outside, with a third from either. When a small new project has no sales yet, comparables from competing projects of similar size and type may be used, and the report explains why they were chosen and how each project compares. The appraiser may not stretch the neighborhood boundaries just to take in the comparables selected.
Who the report is written for
On a lender assignment the scope of work, the type and extent of research and analysis, is set to the lender's requirements. The intended use, what the report will be used for, is the lender's loan decision, and the intended user, the party entitled to rely on it, is the lender. The owner may receive a copy, but the owner is not the intended user.
Who decides whether the project qualifies
Not the 1073. The report states project facts; the lender decides whether the project meets the loan program's rules. Fannie Mae's project standards say the lender must determine eligibility and treat appraisers as one source of project information among HOAs, management companies and others. A condo questionnaire, such as Fannie Mae's Condominium Project Questionnaire (Form 1076), which the Selling Guide calls optional but encourages lenders to use, is the lender's tool for that review. The lender's tests include pending litigation naming the HOA, critical repairs and deferred maintenance, special assessments tied to those repairs, commercial space, and whether one entity owns too many units.
A Claremont unit and an Upland unit
The form is the same on both sides of the county line; the evidence is not. Claremont is in Los Angeles County, and its townhomes and condominiums appear south of the 10, in the Village expansion infill, in age-restricted communities and near the Colleges, each with its own buyers. Upland is in San Bernardino County, with condominium and townhome projects among the tracts south of the 210. An Upland unit is compared with Upland projects first, and a Claremont sale is used only with the location difference explained; the same holds in reverse. The Upland area page and the Claremont area page describe each city's pockets.
The 1073 in 2026: one report replaces the form numbers
Freddie Mac lists the Form 1073, its desktop and hybrid versions and the Form 1075 among the legacy forms being retired and replaced by one redesigned Uniform Residential Appraisal Report, which it describes as a structure where "the data that describes the subject property drives the appraisal report." Freddie Mac states that UAD 3.6, the dataset behind it, is mandatory for new appraisal reports submitted on or after November 2, 2026, and that the purpose of the URAR has not changed. Fannie Mae's Selling Guide page on report forms still describes the Form 1073 and points lenders using UAD 3.6 to its policy supplement.
Whatever the format, a condo report still has to describe the unit, the project and the comparable sales. The guide to what the redesigned URAR changes covers the new format. Owners of manufactured homes, which never used the 1073, should read the guide to manufactured home appraisal and real property status.
Ordering a condo appraisal
For a purchase or refinance, the lender orders the appraisal and chooses the report format. A private assignment, such as an estate, a trust or a divorce, is not a loan, so its report follows its own intended use rather than a lender's form, with the same project review. Fees are set by the scope of the assignment and quoted before work begins, and they do not depend on the value. See residential appraisals for lending and refinance or call (909) 324-6122.
Sources
- Fannie Mae Selling Guide B4-1.2-01, Appraisal Report Forms and Exhibits, accessed November 6, 2026
- Fannie Mae Selling Guide B4-1.4-03, Condo Appraisal Requirements, accessed November 6, 2026
- Fannie Mae Selling Guide B4-1.3-08, Comparable Sales, accessed November 6, 2026
- Fannie Mae Selling Guide B4-1.3-05, Improvements Section of the Appraisal Report, accessed November 6, 2026
- Fannie Mae Selling Guide B4-2.1-01, General Information on Project Standards, accessed November 6, 2026
- Fannie Mae Selling Guide B4-2.1-03, Ineligible Projects, accessed November 6, 2026
- Freddie Mac, Uniform Appraisal Dataset (UAD) 3.6 and Forms Redesign FAQ, accessed November 6, 2026
- The Appraisal Foundation, Uniform Standards of Professional Appraisal Practice (USPAP), accessed November 6, 2026
- California Bureau of Real Estate Appraisers, license lookup for Gordon Hall, BREA No. AR003877, accessed November 6, 2026
Gordon Hall, California Certified Residential Real Estate Appraiser, BREA No. AR003877 (lookup: https://www2.brea.ca.gov/breasearch/faces/party/view.xhtml?id=23601). Reports are prepared in conformity with the Uniform Standards of Professional Appraisal Practice (USPAP). Nothing here is legal or tax advice; admissibility is always the court's decision.
Frequently asked questions
What is a 1073 appraisal report?
It is the Individual Condominium Unit Appraisal Report, Fannie Mae Form 1073 and Freddie Mac Form 465, the form lenders used for a traditional appraisal of one unit in a condominium project based on an interior and exterior inspection. It covers the unit, the project and its association assessment, and comparable sales chosen for condos. For reports submitted to Fannie Mae and Freddie Mac on or after November 2, 2026, it is retired and the unit is reported on the redesigned URAR.
What is the difference between a 1073 and a 1004?
The Form 1004 was the lender's report for one-unit properties and units in planned unit developments. The Form 1073 was for a unit in a condominium project and also covered the project, the homeowners' association and its assessment. For Fannie Mae and Freddie Mac reports submitted on or after November 2, 2026, both are replaced by the redesigned URAR. The recorded project documents decide which applies to a townhome.
Is the 1073 still used in 2026?
For loans delivered to Fannie Mae and Freddie Mac, Freddie Mac lists the 1073 among the legacy forms replaced by the redesigned Uniform Residential Appraisal Report, and UAD 3.6 is mandatory for new reports submitted on or after November 2, 2026. For FHA, VA and USDA loans, Freddie Mac says to contact each agency, so the lender's order states the format.
Can the condo owner rely on a 1073 ordered by the lender?
On a lender assignment, the lender is the intended user and the mortgage decision is the intended use. An owner may receive a copy, but the report was written for the lender. An owner who needs a value for another purpose, such as an estate or a trust, orders a separate assignment for that use.
