DEFINITION: CHOICEHome® provides conventional financing for manufactured housing to help increase the availability of the quality affordable homes that borrowers want, while providing lenders with the innovative financing options they need.

  • A CHOICEHome is appraised like site-built homes, with appraisals completed on the Manufactured Home Appraisal Report (Form 70B). The Appraiser must use the most
  • The Appraiser must use the most appropraite site-built homes as comparable sales when no CHOICEHome comparables are available.
  • Traditional HUD-coded Manufactured Homes are not required as comparable sales for CHOICEHome due to CHOICEHome's required architectural elements and structural specifications.
  • A CHOICEHome is built to exceed current HUD energy efficiency requirements for its geographic area. The property must include at least the following:
    • Minimum insulation values of 33(ceiling)/11(wall)/22(floor).
    • Energy Star Qualified Low-E windows.
    • Programmable thermostat.
  • Must have aesthetic and architectural attributes similar/comparable to those of site-built homes.
  • The mortgage must be a fixed-rate mortgage or a 5/6-Month, 7/6-Month or 10/6-Month ARM; provided, however, Freddie Mac Home Possible® and HomeOne® mortgages must be fixed-rate mortgages.
  • Will be financed using most of our conventional loan products, including construction conversion mortgages, and as little as 3 percent minimum down payment for Home Possible® borrowers and HomeOne® first-time homebuyers.
  • Must have a CHOICEHome label affixed that
    • Certifies the home meets the CHOICEHome manufacturing eligibility requirements.
    • Is an easy and effective way for appraisers and lenders to accurately identify it as a CHOICEHome.
    • 1. CHOICEHome label sample
  • Must be a 1-unit dwelling comprised of multiple sections (a "multiwide” manufactured home.)
  • Will be submitted through Loan Product Advisor® as a detached single-family home.