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What is the CHOICERenovation Mortgage?

Freddie Mac has announced the creation of a new home renovation loan program called the CHOICERenovation Mortgage.  This product is replacing Freddie Mac’s previous Renovation Mortgage and is very similar to Fannie Mae’s HomeStyle Renovation and the FHA’s 203k loan. It offers many benefits to borrowers looking to make updates to their properties. How Does It Work? The CHOICERenovation Mortgage breaks from its predecessor by eliminating the need for Interim Construction Finance and allows borrowers to take out one loan at closing to pay for both the home purchase an...

August 28th, 2019 | Home Renovation Loans, What is the CHOICERenovation Mortgage?

Brookstone Mortgage Corp

7220 Trade Street, Suite 132, San Diego, California 92121
Phone: 858-722-3206 | Fax: 888-219-8036
Email: lmdelgado1@outlook.com
NMLS# 915904. Licensed to conduct business in the following states: AZ (#0923614), CA (CA Bur of Real Estate - Real Estate Broker, Broker# 01919508), TX (Mortgage Company License). These materials are not from HUD or FHA and were not approved by HUD or a government agency.

Texas Mortgage Broker Disclosure

CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.

THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT DEPARTMENT’S WEB SITE AT WWW.SML.TEXAS.GOV. THIS DISCLOSURE WAS DELIVERED TO THE CONSUMER VIA OUR WEBSITE.