Freddie Mac CHOICEReno eXPress®

CHOICEReno eXPress, an expansion of the Freddie Mac CHOICERenovation® mortgage program, is a single-close loan that enables borrowers to purchase a home that needs smaller-scale repairs, or refinance their existing home and include the necessary funds for small-scale cosmetic repairs in the loan balance.

PROGRAM HIGHLIGHTS

• Purchase and refinance (no cash-out)
• Does not require borrower to get interim construction financing
• No minimum dollar amount for repairs
• Repairs up to $35,000
• Allows renovations purchased from a home improvement store
• Minimum FICO of 620
• Can be combined with affordable mortgage products with low down payment such as Home Possible, HomeOne and super conforming mortgages