(b) Third party assessments. As part of the application for a guaranteed loan, the lender must provide documentation of qualified third parties' assessments of the property's physical condition and any environmental conditions or hazards which may have a bearing on the market value of the property. These assessments must include:

1. (1) An acceptable property appraisal.
2. (2) A Phase I Environmental Site Assessment (American Society of Testing and Materials).
3. (3) A Standard Flood Hazard Determination.
4. (4) In the case of the purchase of an existing structure, rehabilitation or refinancing, a physical needs assessment.