Freddie mac phone number for lenders
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The program is part of Freddie Mac’s Duty to Serve plan, which focuses on supporting underserved markets by financing more rural and manufactured housing and preserving more affordable housing for homebuyers and renters nationwide. “If a factory-built home meets certain specifications, it will be granted a CHOICEHome certification and will be eligible for CHOICEHome financing,” Freddie Mac said, adding that its loan products HomeOne and Home Possible will be available for manufactured housing.Īdditionally, Freddie Mac said that appraisers will be able to use site-built housing as a comparable for valuation. Many of these homes also come with energy-saving features like Energy Star Qualified Low-E windows, programmable thermostats and minimum insulation values.Īccording to Freddie Mac, it will treat loans secured by CHOICEHome like loans that are secured by single-family site-built homes. The homes that will be eligible for the program have features like permanent foundations and pitched roofs. The program, which is called CHOICEHome, is a two-year pilot that will allow for conventional financing for certain manufactured homes. The government-sponsored enterprise announced Friday that it is rolling out a new financing program for manufactured housing that will bring conventional financing to factory-built housing. GSE rolls out new manufactured housing financingįreddie Mac will soon see no difference between certain manufactured homes and traditional single-family housing from a financing standpoint.