Loans Build or renovate CHOICERenovation
CHOICERenovation: Freddie Mac's buy-and-remodel loan
This loan lets you finance renovations, including wildfire and storm resilience work, in one conventional mortgage. It allows more time to finish than most renovation loans, and a smaller eXPress version covers lighter projects.
New to this loan? Start here: Renovation loans: buy and fix in one loan A 3-minute lesson
Who it fits
It fits buyers who want a home that needs work, or owners who want to remodel without a second mortgage. Because the loan is based on the finished value, it can fund work that a regular loan cannot.
Our building seasons are short, so mountain projects can take longer. The 450-day window allows time for weather and contractor schedules, and resilience work such as fire-resistant roofing is a good fit here.
CHOICERenovation or HomeStyle?
| Feature | CHOICERenovation | HomeStyle |
|---|---|---|
| Repair limit | 75% of finished value | 75% of finished value |
| Time to finish | 450 days (+90) | 15 months (+3) |
| Small-project version | eXPress, up to 10–15% | Refresh, up to 15% |
| Contingency | Up to 20% | Up to 15% |
Compare with HomeStyle Renovation.
Calculators and guides
Common questions
What can I renovate?
Almost any permanent improvement, including kitchens, baths, additions, accessory units, decks, energy and water efficiency, and disaster resilience such as retaining walls. Tearing down and rebuilding is not allowed.
What is CHOICEReno eXPress?
It is a lighter version for smaller projects, up to 10% of the home's value (15% in high-needs areas), finished within 180 days.
Can I do the work myself?
In some cases you can, within limits and with documentation. Most buyers use a contractor; we will confirm the rules for your project.