Both the Fannie Mae and Freddie Mac appraisal relief announcements apply to purchase transactions involving new construction, and Freddie Mac also addresses appraisal relief for GREENChoice MortgagesSM. Freddie Mac notes that the relief does not apply to CHOICERenovationSM Mortgages.
Fannie Mae also addresses inspection relief for HomeStyle® Renovation Loans, but notes that the appraisal relief does not apply to the loans.
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