Learn how Freddie Mac CHOICERenovation® combines purchase or rate/term refinance with renovations in one conventional loan — LPA Accept, $50k minimum, 15-month completion.
What Is Freddie Mac CHOICERenovation®? | The 2 Mortgage Guys
Learn how Freddie Mac CHOICERenovation® combines purchase or rate/term refinance with renovations in one conventional loan — LPA Accept, $50k minimum, 15-month completion.
What Is a Freddie Mac CHOICERenovation® Loan?
Conventional Rehab — Not a Separate Construction Loan
At a Glance
How Freddie Mac CHOICERenovation® Differs From a Standard Mortgage
Freddie Mac CHOICERenovation® vs. Standard Conventional vs. FHA 203(k)
Keep Exploring
Frequently Asked Questions
See If Freddie Mac CHOICERenovation® Fits Your Fixer-Upper
Freddie Mac CHOICERenovation® is Freddie Mac's conventional renovation mortgage for purchase or rate/term refinance on primary, second, and investment properties — one loan for the home and eligible improvements, sized on after-improved value. Underwriting requires Loan Product Advisor Accept; manual underwriting is not permitted.
A standard mortgage funds the purchase price. Freddie Mac CHOICERenovation® adds a renovation component: eligible repair and upgrade costs roll into the same conventional note, and the lender bases qualification partly on what the home will be worth when work is done.
After closing, renovation dollars typically sit in escrow. One licensed general contractor is paid as inspections confirm progress — you do not receive the full rehab budget as cash at the closing table.
Ryan and Steve compare Freddie Mac CHOICERenovation® with HomeStyle and FHA 203(k) before you write a rehab-heavy offer so the program matches your credit, occupancy, and scope of work.
Four structural differences that matter when you are buying a fixer-upper.
Related Freddie Mac CHOICERenovation® guides and renovation programs to compare before you apply.
Ryan & Steve will review your property, scope of work, and credit profile against Freddie Mac CHOICERenovation® guidelines at Luminate Bank.
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.