CBC Mortgage Agency offers down payment assistance in Florida to help with the down payment needed to complete a home purchase with an FHA loan and are available to first-time homebuyers and existing homeowners.
Florida Down Payment Assistance
Homebuyers in Florida looking for Down Payment Assistance can apply for Chenoa Fund down payment assistance through an approved lender. CBC Mortgage Agency provides down payment assistance in the form of secondary financing. The secondary financing assistance may be repayable or forgivable, and the amount provided may be up to 5% of the home sale price or the appraised value, whichever is lower.
First-Time Homebuyer Program
CBC Mortgage Agency has two program options available for first-time homebuyers in Florida. These programs are geared towards but are not limited to first-time homebuyers, making it easier for them to purchase homes. Down payment assistance can significantly reduce the upfront costs of buying a home, making purchasing a home a reality for those who otherwise wouldn’t have the means to save for a traditional 20% down payment.
Down Payment Assistance for Qualifying Borrowers with a Minimum Credit Score Requirement of 600.
CBC Mortgage Agency adheres to industry standards when determining the credit score eligibility for Chenoa Fund down payment assistance. The lowest middle credit score for the secondary mortgage loan is taken into consideration and the minimum acceptable score is 600.
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