CHOICEHome^® FAQ

CHOICEHome is our affordable mortgage offering that provides conventional site-built financing for manufactured homes that are titled as real property, built to the HUD Code, and have features of site-built homes. A manufactured home is certified as a CHOICEHome and eligible for CHOICEHome financing if it meets certain specifications.

CHOICEHome must be the borrowers' primary residence.

• Better alignment of loan terms between site-built and manufactured homes
• Efficiency in the loan origination process
• Technical expertise on loan underwriting and property valuation
• Ability to track overall loan performance
• Opportunities to promote manufactured homes as a high-quality, affordable housing option and to enable more people to achieve sustainable homeownership in a tight housing market

Yes. We worked with the Appraisal Institute to develop training for appraisers and appraisal management companies on evaluating manufactured housing, including CHOICEHome. Training is offered on a state-by-state basis on the Appraisal Institute’s virtual platform and in-person classes. Visit the Appraisal Institute website(Opens a new window) for additional details.

Yes. CHOICEHome mortgages are eligible for sale to Freddie Mac as construction conversion mortgages, including those documented with integrated documentation (i.e., single closing), provided they meet the Guide requirements for both offerings.

Yes. To provide borrowers with more affordable housing options, we allow lenders to sell CLT mortgages secured by CHOICEHome-certified manufactured homes.

Manufacturers that build homes to CHOICEHome specifications will place a CHOICEHome labelpdf next to the HUD data plate.

Yes. It can be used with fixed-rate mortgages and 5/6-Month, 7/6-Month or 10/6-Month  ARMs.

CHOICEHome LTV can be up to 97% with a Home Possible^® and HomeOne^SM mortgage.
Like a site-built home, a CHOICEHome can be financed with a down payment as low as 3%.

A CHOICEHome is eligible for other Freddie Mac products, including Home Possible^®, HomeOne^SM, and Construction Conversion mortgages, resulting in higher LTV ratios and lower down payment options for the borrower.

No. We will not purchase loans assessed by DU or MH Advantage loans under the CHOICEHome offering. CHOICEHome loans must be Loan Product Advisor^® Accept mortgages.

A CHOICEHome-certified home is eligible for as little as 3 percent minimum down payment for Freddie Mac Home^® Possible borrowers and Freddie Mac HomeOne^SM first-time homebuyers. These homes can also be financed using our construction conversion mortgages.

They are appraised like site-built homes, with appraisals completed on the Manufactured Home Appraisal Report (Form 70B) by allowing the use of site-built homes as comparable sales when no CHOICEHome comparable sales are available.