09/15/2026 - Closed End Second Guideline Update

Effective September 14, 2026, the Closed End Second guideline increases the minimum appraisal requirement from $350,000 to $400,000. This change applies to eligible pipeline loans, excluding transactions with valuation requests already in process or completed.

In addition, the Ineligible Property Types have been updated.

Appraisals: Primary Valuation Requirements

The minimum loan amount requirement for appraisals has increased from $350,000 to $400,000. Refer to the guidelines for complete details on appraisal requirements.

Ineligible Property Types

This section was moved to the product summary and the following ineligible property types were added:

• Geodesic Dome Homes
• Unique Property Types

Resource: AllRegs > Second Lien Guidelines > Home Equity Closed End Second (HELOAN)