Operating Income Statement

Fannie Mae Appraisal Form 216

An Operating Income Statement, Form 216, can be completed to determine the amount of operating income that can be used in evaluating an applicant’s credit on applications for conventional mortgages for certain investment and owner-occupied dwellings. Specifically, Form 216 applies to one-to-four-unit investment properties and two-to-four-unit owner-occupied properties.

To determine rental revenue, all income and expense projections are provided by the applicant or an appraiser to determine monthly net cash flow. If this form is completed by the applicant, an appraiser must also include their comments about the reasonableness of the projected operating income of the property.

*It is important to note that Fannie Mae does NOT require Form 216. However, as all lenders must report gross monthly rent at delivery, they often will need to utilize this Operating Income Statement form.

The Pro Teck Difference

Pro Teck prides itself on providing a wide variety of appraisal solutions, including operating income statements (Form 216). With Pro Teck, you will get next-level support by:

• Using Intelligent Quality Control, our pro-active quality control process leads to more one-touch appraisals.
• Utilizing a single point of contact — no more being transferred from person to person.

Pro Teck offers appraisal update solutions as part of its suite of residential appraisal products. To learn more about Pro Teck’s appraisal management services, contact us today.