Freddie Mac Expands Financing Options to Increase Availability of Affordable Housing

Core Viewpoint - Freddie Mac expands its CHOICEHome financing options to include modern single-section factory-built homes, aiming to increase the availability of affordable housing and provide innovative financing solutions for lenders [1][2][3]. Group 1: Financing Expansion - The CHOICEHome mortgages will now cover modern factory-built single-section homes, effective August 6, 2025, encouraging more buyers and builders to consider these homes [2][3]. - The mean price of the newly accepted single-section home is approximately $200,000, while traditional single-family site-built homes average over $500,000, highlighting the affordability of the new financing option [3]. Group 2: Industry Impact - Freddie Mac's initiative is expected to enhance affordable homeownership and increase the housing supply, particularly benefiting first-time homebuyers [3][4]. - The inclusion of single-section homes in the CHOICEHome program is celebrated by industry leaders, indicating a collective effort to provide attainable and energy-efficient homeownership [3][4]. Group 3: Construction Standards - CHOICEHome financed manufactured homes must meet specific construction standards, including features like permanent foundations and energy-efficient designs, facilitating integration with existing neighborhoods [5].