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Financing: New Loan for Fix-and-Flip or Renovations
There’s a new loan option for homes don’t meet the “livability” requirement for traditional financing. Freddie Mac recently launched the ChoiceRenovation mortgage to help finance home renovations without a second loan. It’s similar to the Fannie Mae HomeStyle loan with several new features including financing for the construction of a “mother-in-law” unit, and disaster protection upgrades.