Discover CHOICEReno eXPress®

CHOICEReno eXPress is a single-close loan that enables borrowers to purchase a home that needs smaller-scale repairs, or refinance their existing home and include the necessary funds for small-scale cosmetic repairs in the loan balance.

• Minimum FICO of 620
• Advantageous for borrowers who wish to purchase a home, or refinance an existing mortgage, and to complete small scale home improvement projects.
• Does not require borrower to obtain interim construction financing
• No minimum dollar amount for repairs
• Repairs up to $35,000
• Allows renovations purchased from a home improvement store
• Repairs or improvements must be permanently affixed to the real property and must be non-structural
• All renovations are completed within 5 months or 150 days of the note date
• Eligible property types: 
  • 1-4 Unit Primary Residences
  • 1-Unit Second Homes
  • Approved Condos
  • PUDs
  • Multi-width Manufactured Homes, including CHOICEHome
  • 1-Unit Investment properties are permitted

By providing financing for repairs and improvements, this program can create home buying opportunities. It can be hard for house hunters to find a property that has everything they are looking for. Perhaps a home is too small, the chopped up floor plan is unappealing, or the dated kitchen just doesn’t suit today’s buyers.