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Week of June 30th-Freddie Mac Announces CHOICERenovation; The Latest Solution for Financing Home Improvements

June 30, 2019

Freddie Mac (OTCQB:FMCC) today announced its CHOICERenovationSM loan offering, which provides homebuyers a flexible choice to purchase a home and finance the cost of renovations with a single-close mortgage, saving them both time and money.

The CHOICERenovation mortgage is designed to help address the nation’s aging housing supply, support the need for affordable housing, and offer renovation, repair, improvement or refinance options to support the increasing demand for cost-effective financing solutions. The Freddie Mac CHOICERenovation mortgage is available immediately to all eligible lenders nationwide.

“Research indicates a large number of older homes need repair and renovation, either to meet the needs of current owners or as a viable option for new homebuyers,” said Danny Gardner, Freddie Mac’s Senior Vice President, Single-Family Affordable Lending and Access to Credit. “The CHOICERenovation solution gives borrowers the opportunity to make improvements, renovations and upgrades to a home using a purchase or no cash-out refinance loan that will be eligible for sale to Freddie Mac. This provides the borrower with a convenient cost saving option for financing renovations.”

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