You choose the contractor(s). Freddie Mac CHOICERenovation® requires one general contractor (plus specialty trades as needed). The lender reviews licensing, insurance, and line-item bids — a renovation consultant is required only in Alaska, California, Hawaii, and New York.
Freddie Mac CHOICERenovation® does not assign a contractor for you. Collect bids from licensed, insured pros whose scopes match the renovations you want financed. The lender then confirms credentials and that costs support the after-improved value.
Unlike FHA Standard 203(k), there is no HUD consultant in most states. A renovation consultant is required only in Alaska, California, Hawaii, and New York. One general contractor coordinates the project, with specialty subs as needed — plans, permits, and contingency still apply on larger scopes.
Ryan and Steve review bid packages early so weak insurance, vague line items, or unlicensed vendors do not stall underwriting after you are under contract.
State or local licensing appropriate to the work — roofing, electrical, general contractor, etc.
Insurance certificates that meet lender overlays and cover the project period.
Materials and labor broken out so appraisers and inspectors can match progress to payments.
Completion estimate inside the 15-month window, plus contingency for surprises when required.
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You solicit one GC (and specialty trades) with line-item scopes that match your renovation goals.
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Licensing, insurance, and costs are checked against overlays and after-improved value.
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Approved rehab dollars, contingency, and draw fees are held after closing — not paid as DIY cash.
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Contractors are paid as five inspections plus final 1004D confirm progress.
Related guides for DIY limits, fund draws, and eligible improvement scopes.
Why DIY sweat equity is not financed in escrow.
Draw inspections and contractor payment timing.
Eligible scopes for contractor bids.
Cross-program contractor approval overview.
Purchase-plus-rehab from bids to closing.
Full program overview and guide directory.
Freddie Mac CHOICERenovation® does not use the FHA HUD consultant model. A renovation consultant is required only in Alaska, California, Hawaii, and New York — otherwise not required. Lenders still require contractor bids, licensing, insurance, and draw inspections before releasing rehab escrow.
Freddie Mac CHOICERenovation® requires one general contractor with specialty contractors as needed for specific trades. Each contractor must meet licensing and insurance requirements, and combined bids must match the after-improved appraisal plan.
Financed escrow work almost always needs a licensed, insured contractor. You may need to switch vendors or move that item outside the loan as personal cash work — Ryan and Steve will flag this early.
You select the contractor(s). The lender reviews credentials, bids, and insurance. They do not typically assign a contractor, but they can reject a bid package that fails guidelines.
Ryan & Steve will review licensing, insurance, and line items so your Freddie Mac CHOICERenovation® bid package clears underwriting the first time.
Freddie Mac CHOICERenovation® is a registered trademark of Freddie Mac. All loans are subject to credit and property approval. Program guidelines, LTV limits, and pricing are subject to change without notice and may not be available in all areas. This website is not affiliated with or endorsed by Freddie Mac, Fannie Mae, HUD, or any government agency. Information is for educational purposes only and is not a commitment to lend.