Unique Housing Types

In the appraisal and appraisal report review processes, special consideration must be given to properties that represent unique housing for the subject neighborhood. Mortgages secured by unique or nontraditional types of housing, including, but not limited to, earth houses, geodesic domes, and log houses are eligible for sale to Fannie Mae provided the appraiser has adequate information to develop a reliable opinion of market value. It is not necessary for one or more of the comparable sales to be of the same design and appeal as the property that is being appraised, although appraisal accuracy is enhanced by using comparable sales that are the most similar to the subject property. On a case-by-case basis, both the appraiser and the underwriter must independently determine whether there is sufficient information available to develop a reliable opinion of market value. This will depend on the extent of the differences between the special or unique property and the more traditional types of houses in the neighborhood and the number of such properties that have already been sold in the neighborhood.

A 3D-printed home with a traditional design and constructed using conventional building materials is not considered a unique or nontraditional housing type. Lenders should follow the standard eligibility and comparable sales selection requirements for site-built housing. See B4-1.3-08, Comparable Sales and B4-1.3-09, Adjustments to Comparable Sales, for additional information. To identify this construction method, the appraiser must enter "3D Printed Home" in the bottom free-form description field of the Sales Comparison Approach grid in the appraisal for the subject property and comparable sales (if applicable).

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