Freddie Mac announces fixer-upper mortgage
Freddie Mac | June 20, 2019
Freddie Mac is launching a new mortgage product that allows borrowers to buy a fixer-upper and finance the renovation all with one loan. Existing homeowners can use it to repair or improve their properties. The government-sponsored enterprise announced its new CHOICERenovation loan product on Wednesday, saying it’s available immediately to all approved lenders. Lenders have two paths for delivering the loan to Freddie. They can either wait until the renovations are complete, or, for approved