Appraisal policy

• All RE related or business purpose loans $1MM or more require an appraisal
• Non residential and multi family transactions $500,000 to $1,000,000 require an appraisal
• Transactions where the value is 500k or less AND the collateral is NOT a single 1-4 family home do not require an appraisal
• A lien on RE taken as an abundance of caution are exempt from appraisal requirements
• A lien on RE taken for purposes other than the Real Estates value are exempt from an appraisal. (IE manufacturing company and equipment)