CBC Mortgage Agency offers down payment assistance in Georgia to help low-to-moderate income individuals and families achieve homeownership.
Georgia Down Payment Assistance
Prospective homebuyers in Georgia looking for down payment assistance can explore a variety of Chenoa Fund down payment assistance programs through an approved lender. CBC Mortgage Agency offers down payment assistance in the form of secondary financing of up to 5% of the home sale price or appraised value, whichever is lower. That amount may be either forgivable or repayable.
Do Not Have to Be a First-Time Homebuyer
While many borrowers who use the Chenoa Fund down payment assistance program are first-time homebuyers, it is not apart of the eligibility criteria in order to apply to use the program. 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 funds necessary for a traditional 20% down payment.
Closing Cost Assistance
In addition to down payment assistance, CBC Mortgage Agency allows its assistance to be used as closing cost assistance. Closing costs can add up quickly and can be a barrier for many first-time buyers in Georgia. With the Chenoa Fund down payment assistance program, you can use a portion of the financial assistance towards items such as appraisal fees, title insurance, and lender fees. This can help make the home-buying process more affordable and manageable for low-to-moderate income individuals and families.
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