The second in a three-part series of free Freddie Mac webinars for Illinois REALTORS® members was held on July 7.  Dennis Smith, Freddie Mac Affordable Lending Manager, Single-Family Affordable Lending and Access to Credit Division, led the Freddie Mac Lending Products for Aging Housing Stock webinar.

Smith explained the CHOICERenovation® and GreenCHOICE mortgage products. These mortgages may be applied to new purchases or refinancing, and may be combined with other Freddie Mac low downpayment options. CHOICERenovation® and GreenCHOICE lending products allow borrowers access to more money because loan amounts are calculated based on what the appraised value of the home will be after renovations or energy-efficient improvements.

For real estate professionals, these mortgage options expand the pool of affordable homes to show to clients. They give clients confidence to consider older homes, offer more flexibility to buyers, and contribute to the improvement of home values in the community. Real estate agents can get more information about these products from a lender in their area.

This and other video recordings of the Freddie Mac webinar series will be available on our Freddie Mac webinar events page.

The third webinar in the series, Freddie Mac Staying Home – Housing Preservation and Homebuyer Resource Panel will take place at 11 a.m. on Thursday, July 23, 2020. Register now.