GreenCHOICE Mortgages® FAQ
This information is not a replacement or substitute for the requirements in the Freddie Mac Single-Family Seller/Servicer Guide and other Purchase Documents.
Getting Started with GreenCHOICE Mortgages
Are GreenCHOICE Mortgages® CHOICEHome® Mortgages and CHOICERenovation® Mortgages directly related?
No. GreenCHOICE®, CHOICEHome® and CHOICERenovation® are separate offerings that are part of our CHOICE family of Mortgage offerings designed to provide solutions for making homeownership achievable and sustainable, whether it’s to finance renovations and repairs, energy- and/or water-efficiency improvements or next-generation factory-built homes.
Can borrowers still pay off a PACE loan with the proceeds from a refinance transaction?
Yes, borrowers may still pay off a PACE obligation with the proceeds from a “no cash-out” refinance and cash-out refinance, provided certain requirements are met, including that the PACE loan is paid in full.
See Guide Sections 4301.4, 4301.8, and 4606.3.
This document and linked Additional Resources are not a replacement or substitute for the requirements in the Freddie Mac Seller/Servicer Guide (Guide) or your other Purchase Documents.