Property Valuation
In New Mexico, a 'drive-by appraisal' (exterior-only inspection) may be acceptable for:
AAll residential loan types
BLow-risk refinances or certain limited situations where a full interior appraisal is waived by the lender✓ Correct
CNew construction only
DCommercial properties only
Explanation
Exterior-only (drive-by) appraisals may be acceptable in low-risk refinancing situations or when approved by Fannie Mae/Freddie Mac automated underwriting systems. Full interior appraisals are standard for purchases.
Related New Mexico Property Valuation Questions
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