Form 1007 Single-Family Comparable Rent Schedule
Bottom Line Up Front (BLUF): Form 1007 is an appraisal addendum completed by a licensed residential appraiser that analyzes 3+ comparable rental properties in the immediate market to determine fair market monthly rent. Wholesale DSCR lenders use Form 1007 to underwrite vacant acquisitions and refinances.
Underwriting Formula / Rule
Qualifying Rent = Lower of (100% of Form 1007 Market Rent) OR (Executed Lease, unless lease override is approved up to 115%–120% of 1007).
Wholesale Shelf Benchmark
Required on all 1-unit DSCR loans; paired with Form 1025 on 2–4 unit properties.
Frequently Asked Underwriting Questions
What if the Form 1007 rent comes in lower than my actual lease?
Select wholesale shelves allow using 100% of the actual executed lease up to 115%–120% of Form 1007 when supported by 2–3 months of cancelled rent checks or AirDNA statements.
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