Mortgage Loan Originator (MLO) Licensing 2025 – 400 Free Practice Questions to Pass the Exam

The 1007 appraisal form, commonly known as the Single-Family Comparable Rent Schedule, is specifically designed to assess single-family rental properties intended for investment purposes. This form allows appraisers to provide an estimate of the rental income potential for a single-family home that is being considered as a rental property. It focuses on evaluating the viability of the property as an investment by comparing it to similar properties that have been rented.

When considering this context, the other options do not align with the purpose of the 1007 form. While single-family properties used as primary residences may be appraised, they do not require the rental income assessment that the 1007 provides. Multi-family properties typically utilize different appraisal forms tailored to their own financial metrics and comparisons, and condominiums and townhouses also follow distinct appraisal methodologies that reflect their unique nature and rental situations. Therefore, the focus of the 1007 form on investment potential in single-family properties makes it particularly relevant to option B.