Borrowers with good credit need down payment assistance (DPA). Unfortunately, DPA is often marketed only towards buyers with poor credit, which creates an unfortunate have/have-not scenario: houses get purchased by borrowers with poor credit or borrowers with good credit and large savings, but not by borrowers with good credit and low savings, even if these … Continue reading "Borrowers with Good Credit Need Down Payment Assistance: Part 1"
As seen on National Mortgage Professional CBC Mortgage Agency (CBCMA) has announced that it is taking steps to ensure that its borrowers are able to stay in their homes during the Coronavirus pandemic. Many CBCMA borrowers receive a forgivable second mortgage in order to pay for closing costs and a downpayment. As a condition of … Continue reading "CBC Mortgage to Assist DPA Borrowers During COVID-19 Crisis"
By: David Ludlow Most Americans dream of owning a home, and it’s not hard to understand why. Homes represent stability and wealth—even owning a modest home in a low-income neighborhood is a big step up for many American renters, renters who appreciate the stability of monthly mortgage payments over increasing rent, and who appreciate having … Continue reading "When is it time to buy a home?"
By RICHARD FERGUSON, President, CBC Mortgage Agency There’s a crisis upon us, and the economic repercussions are only beginning to be understood. What we do know is that COVID-19 is causing a severe shock and loss of income, in particular to the new homeowners we’ve striven so hard to help. We also know that today’s … Continue reading "20-09: CBCMA Working to Keep Down Payment Assistance Recipients Solvent During COVID-19 Crisis"
Hello all! Just a quick update, we are all healthy and well here at CBCMA! We appreciate each and everyone of you and the calls of concern as well as the queries of well-being of our staff and families in the midst of the pandemic and earthquake which hit Salt Lake City a couple of … Continue reading "Important Covid- 19 Information from CBCMA"
First, and foremost, Happy St.Patrick’s Day from everyone here at CBC Mortgage Agency! In this issue of the Chenoa Report, you will find the following updates and information: Program Guidelines Updates CBC Mortgage Agency On the Road Chenoa Fund in the News Chenoa Fund blog posts Marketing Resources Program Guidelines Update: On behalf of CBC … Continue reading "March 17, 2020: Chenoa Fund Correspondent Newsletter"