Freddie Mac Energy Mortgage and Loan Products
The Freddie Mac CHOICERenovation program now available in 2021 is revolutionary in that it has the ability to fully finance substantial energy improvements, aka: “Deep Energy Retrofits”.
Check Out The Following Example:
The purchase price of an existing home is $75,000 but the total cost of needed energy and other upgrades is $180,000 – More than double the original price of the home!
Other energy mortgage programs cap the total amount allowed to be financed at around $15,000 so you can see that the Freddie Mac mortgage is different.
The “As completed” total cost of the improved home is $255,000, of which the borrower has to kick-in an additional $5,000 to stay within the max value.
As you can see in this example there is enough money available to make the substantial energy and other improvements possible. To learn more just click on one of the following links: