Freddie Mac Expands CHOICEHome to Include Single-Section Homes
On August 6, 2025, Freddie Mac launched an industry-first expansion of its CHOICEHome conventional financing program, opening it to modern single-section (single-wide) factory-built homes, previously, the product was only available for multi-section manufactured homes. This expansion to Freddie Mac’s CHOICEHome program will immediately expand and increase the availability of affordable housing. While there are many elements to this expansion, here are some key highlights:
- Lower Down Payment
- Eligible buyers, such as those using Freddie Mac’s Home Possible® or HomeOne first-time buyer offerings, can finance with as little as a 3% down payment. Making home ownership possible to many more families.
- Affordability Boost
- These single-section factory-built homes can typically cost up to $200,000 including land, compared with over $500,000 for comparable traditional site-built homes.
- Appraisal and Quality Standards
- CHOICEHome loans appraise these factory-built homes similarly to site-built homes.
- Eligible homes must meet elevated construction criteria: permanent foundations, energy-efficient designs, pitched roofs, and compatibility with surrounding neighborhoods (like urban infill areas).
- Financing Ready
- Lenders can begin offering this expanded CHOICEHome financing immediately, with Freddie Mac ready to purchase these loans now.
This expansion will fuel manufactured housing’s role in affordable housing with greater accessibility for first-time and low-to-moderate-income buyers. By extending low-down-payment loans to single-section manufactured homes, it opens the door to homeownership for buyers who are often priced out of traditional markets, making affordable options more accessible. By simplifying the financing process, Freddie Mac helps expand the stock of affordable housing, a particularly valuable contribution in areas suffering from severe housing shortages.
