Expect a standard conventional income and asset package plus renovation extras: one general contractor’s bids, licensing, insurance, and a scope that supports the after-improved appraisal. Having the rehab stack ready is what separates a fast Freddie Mac CHOICERenovation® close from a stalled one.
Four buckets every Freddie Mac CHOICERenovation® file usually covers.
01
Pay stubs, W-2s or tax returns, ID, and authorization for a full credit pull that supports LPA Accept.
02
Bank statements, gift letters if used, and reserve proofs for second homes or investments.
03
Purchase agreement or rate/term refinance docs, HOA info when applicable, and insurance quotes.
04
Licensed GC bids, contractor insurance, scope of work, and permits or plans when required.
Freddie Mac CHOICERenovation® is not a standard purchase with a vague remodel wish list. Underwriters and appraisers need line-item bids that match the financed scope — so five escrow draws have a clear pay schedule and after-improved value has market support inside the repair cost caps.
Missing insurance certificates, unsigned bids, DIY scopes without a licensed general contractor, or a loan amount under the $100,000 minimum are the most common document delays after credit is already approved.
Ryan and Steve send a tailored checklist for purchase vs rate/term refinance and primary vs second home vs investment so you upload once — not in three confusing rounds.
Gift letter, donor ability, and transfer trail when gifts cover down payment or closing costs.
Income documentation and homebuyer education certificates when pairing for 97% LTV.
Documentation supporting up to 6 months financed PITI when the property cannot be occupied during rehab.
Line items for architectural, engineering, permits, draw admin, and contingency reserves.
Foundation and title documentation that meets Freddie Mac manufactured guidelines.
Current mortgage statements and payoff authorization for rate/term refinance-and-renovate.
Related guides for qualification, contractors, appraisal, and whether Freddie Mac CHOICERenovation® fits.
LPA Accept, credit, and underwriting basics.
Licensing and bid packages lenders review.
After-improved value docs and scope.
Conventional score rules for LPA Accept.
When this program fits your project.
Full program overview and guide directory.
You can start pre-approval with income and credit documents first. For a full Freddie Mac CHOICERenovation® commitment that includes rehab dollars, underwriters need licensed contractor bids and a clear scope that matches the after-improved appraisal plan — plus LPA Accept.
W-2 wage earners often qualify with pay stubs and W-2s. Self-employed borrowers typically need tax returns and year-to-date profit-and-loss. Non-QM options may apply if traditional docs do not fit — Ryan and Steve will route you correctly.
Expect licensing, insurance certificates, signed bids with line items from one general contractor (specialty trades as needed), and sometimes permits or plans for structural work. Consultant documentation applies only in Alaska, California, Hawaii, and New York.
Yes — leases, rent rolls, or market rent estimates may be required, plus higher reserve statements. Occupancy affidavit and entity documents apply when an LLC is involved.
Ryan & Steve will send a tailored document list for your purchase or rate/term refinance, occupancy type, and contractor package.
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.