You could move, but it may mean choosing between the right home and the right neighborhood. You’ve grown to love where you live, but you’ve outgrown your home. In June 2019, Freddie Mac came out with a new renovation loan product for homeowners looking to refinance (or purchase) and renovate a home all in one loan: the Freddie Mac ChoiceRenovation Loan.įreddie Mac ChoiceRenovation Loans give homeowners added borrowing power, because they’re based on the “after renovation value” of your property. ![]() ![]() ![]() Freddie Mac ChoiceRenovation Loan vs RenoFi Loan: Which Is Better For Renovating?ĭiscover the differences between Freddie Mac ChoiceRenovation Loans and RenoFi Loans and how they both work for financing renovations.īefore RenoFi Loans came along, the two most common loan program options for buyers looking to refinance (or purchase) and renovate a home all in one loan were Fannie Mae Homestyle Renovation Loan and the FHA 203k loan.
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