What is an Freddie Mac CHOICERenovation Conventional Loan?
A Freddie Mac CHOICERenovation Conventional Loan is perfect for buyers and home owners wishing to obtain a renovation loan for their primary 1-4 unit home, vacation home, or single-unit investment property. It will provide money to buy or refinance your home with one loan. This type of loan also has higher loan limits then FHA 203K to allow owners to get what they really want.
This loan is different from a Fannie Mae HomeStyle Conventional Loan. The Freddie Mac CHOICERenovation Conventional Loan allows owners to mortgage up to 80% of a 3-4 unit property.
Already have a renovated property? Allow us to refinance your loan as interest rates decrease. Your payments and the total amount of interest paid can be greatly reduced.
How It Works
- Contact us to get started and to be pre-approved.
- Find your new home or refinance your current property.
- Our construction consultant will inspect the home to outline repairs for general contractors to bid on.
- The property is appraised for its “After Renovated Value” (ARV).
- We will process and underwrite your loan application.
- The loan is closed.
Contact us for help through the entire loan process.