Offers, Incentives & Financing
Freddie Mac First Look Initiative
Freddie Mac will offer homebuyers and select non-profits an exclusive opportunity to purchase HomeSteps homes prior to competition from investors through the Freddie Mac First Look Initiative. This ongoing initiative offers owner occupant homebuyers, Neighborhood Stabilization Program (NSP) grantees and non-profits engaged in community stabilization efforts the ability to purchase HomeSteps homes during their initial 30 days of listing, without competition from investors. The purchaser does not need to be a first time homebuyer to be eligible provided, however, that they are buying the home as their primary residence.
Freddie Mac’s renovation suite consists of cost-effective mortgage solutions for renovations to homes for purchase or upgrades to existing properties as well as solutions for home renovations with energy efficiency improvements.
- CHOICERenovation allows the borrower to use the mortgage proceeds to pay for home renovations and offers a conventional offering to support renovation financing and provide cost-effective solutions for borrowers.
- CHOICEReno eXPress is a streamlined renovation mortgage that offers an additional financing option for borrowers who are looking to finance small-scale home renovations.
- GreenCHOICE Mortgages allows financing of energy-efficient improvements with any Guide product, property type and financing term up to 30 years to provide greater affordability for borrowers.
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