Freddie Mac introduced the CHOICEHome pilot program. CHOICEHome is a new type of manufactured home with features comparable to site-built homes. Under the pilot program, lenders may utilize Freddie Mac’s construction conversion loans, and Home Possible and HomeOne mortgages to finance a CHOICEHome. In addition, Freddie Mac permits the use of site-built homes as comparable sales on an appraisal when there are no CHOICEHome sales available. The CHOICEHome pilot program is effective immediately.
