{"id":97326,"date":"2025-08-06T15:07:06","date_gmt":"2025-08-06T15:07:06","guid":{"rendered":"https:\/\/pakistaninewspaperlist.com\/news\/freddie-mac-expands-financing-options-to-increase-availability-of-affordable-housing\/"},"modified":"2025-08-06T15:07:06","modified_gmt":"2025-08-06T15:07:06","slug":"freddie-mac-expands-financing-options-to-increase-availability-of-affordable-housing","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/freddie-mac-expands-financing-options-to-increase-availability-of-affordable-housing\/","title":{"rendered":"Freddie Mac Expands Financing Options to Increase Availability of Affordable Housing"},"content":{"rendered":"
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MCLEAN, Va., Aug. 06, 2025 (GLOBE NEWSWIRE) — In an effort to increase the availability of affordable homes, Freddie Mac<\/a> (OTCQB: FMCC)\u00a0will expand its CHOICEHome conventional financing options to include modern single-section factory-built homes, effective today. Doing so will expand housing supply, while providing lenders with innovative financing options offered by the company. Modern single-section factory-built homes combine the advantages of factory- and site-built construction to offer a housing option that is typically more affordable than traditional site-built construction.<\/p>\n

Specifically, the move expands Freddie Mac\u2019s CHOICEHome<\/a>\u00ae<\/sup>\u00a0mortgages to increase the availability of these modern factory-built single-section homes, encouraging more buyers and builders to consider them as an attractive option. This financing option becomes available to lenders on August 6, 2025. CHOICEHome mortgages are appraised using similar methods as site-built homes.<\/p>\n

\u201cUnder President Trump, U.S Federal Housing is committed to delivering affordable homeownership and finding ways to grow our nation\u2019s housing supply,\u201d said William J. Pulte, Freddie Mac Chairman. \u201cModern single-section factory-built homes can offer high-quality alternatives at a lower price point. Freddie Mac\u2019s expansion of the CHOICEHome program helps make more homes accessible to more Americans through the conventional mortgage market.\u201d<\/p>\n

\u201cFreddie Mac’s support for modern single-section factory-built homes will play an important role in creating and promoting affordable housing in markets that need additional supply to help first-time homebuyers,\u201d said Sonu Mittal, Freddie Mac\u2019s Executive Vice President and Head of Single-Family Acquisitions. \u201cLenders can leverage our existing CHOICEHome mortgage offerings to finance these homes, and we are ready to purchase these loans now.\u201d<\/p>\n

\u201cWe join the entire industry in celebrating Freddie Mac\u2019s significant effort to add the single-section home design to their CrossMod mortgage program,\u201d said Clayton CEO, Kevin Clayton. \u201cThis important update will now provide attainable, energy efficient homeownership to many more deserving families, helping to make these homes available in established neighborhoods and narrow urban lots.\u201d<\/p>\n

The company\u2019s CHOICEHome mortgage product brings conventional loan financing to modern factory-built homes that are built to exceed federal standards called for by the U.S. Department of Housing and Urban Development. This financing typically offers a more affordable option than traditional site-built homes. The mean price of the newly accepted single-section home is around $200,000 including land in most markets, while the traditional single-family site-built home can, on average, exceed $500,000.<\/p>\n

Freddie Mac\u2019s existing financing options include financing for multi-section factory-built homes with a 3% down payment option. As of today, Freddie Mac will include the same financing option for single-section, or single-wide, modern factory-built homes for the first time.<\/p>\n

Freddie Mac ensures that CHOICEHome financed manufactured homes meet specific construction standards, which include features such as permanent foundations, energy-efficient designs, pitched roofs, attached garages, and enhanced durability and comfort of the home. These features also make for easier integration with existing neighborhoods that include site-built homes, including urban infill.<\/p>\n

To learn more about CHOICEHome eligibility, visit the Single-Family Seller Servicer Guide<\/em><\/a>.<\/p>\n

About Freddie Mac<\/strong>
Freddie Mac\u2019s mission is to make home possible for families across the nation. We promote liquidity, stability and affordability in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website<\/a> | Consumers<\/a> | X<\/a> | LinkedIn<\/a> | Facebook<\/a> | Instagram<\/a> | YouTube<\/a><\/p>\n

MEDIA CONTACT: <\/strong>
Chad Wandler<\/strong>
703-903-2446<\/strong>
Chad_Wandler@FreddieMac.com<\/strong><\/a><\/p>\n

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