Chenoa Fund Blog

Purchasing a home is one of the biggest personal and financial decisions you will ever make. With the constant evolution of the housing and job markets, it can be tough to determine a rough number to save in order to buy a house, and without a rough number to shoot for it’s hard to set … Continue reading "How Much Money Do You Need to Buy a House?"

Buying a home can be a long and complicated process, especially for first-time homebuyers without family or friends to give them pointers. It isn’t made easier by the fact that many of the steps to buy a home may happen at the same time, or slightly staggered, or in different orders depending on your personal … Continue reading "Getting To Know The Home Buying Process"

Version 11.8 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 12/09/2021 unless otherwise noted. To review the program guidelines changes made November 18, 2021, or earlier, please follow this link to the archived Correspondent Lending Guides. These updates apply to everyone using the … Continue reading "21-12-09 Announcement—December 9 2021 Program Guidelines Update"

In 2019, the US Federal Reserve issued a report stating that homeowners had a median net worth of $255,000. Renters, on the other hand, had a median net worth of $6,500. This staggering difference in wealth represents an enormous advantage for some homeowners—and possibly their children. “You enter the middle class through homeownership, right? That’s … Continue reading "Building Generational Wealth Through Homeownership"

Savvy loan officers know that waiting on luck is a surefire way to have an unlucky career—luck is made by planning ahead and being prepared. These same principles apply to homebuyers as well, and one of the best ways to be prepared when buying a home is to obtain a preapproval for a loan. For … Continue reading "4 Reasons You Should Get Home Buyers Preapproved"

Being a homeowner takes a whole lot of know-how that isn’t immediately obvious to a first-time homebuyer. To begin with, the financial commitment of owning a home doesn’t end at closing—borrowers have to be prepared to budget so they can afford a monthly housing payment and other home expenses. While this might be an easy … Continue reading "The Benefits of Homebuyer Counseling and Homebuyer Education"

Version 11.7 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 11/18/2021 unless otherwise noted. To review the program guidelines changes made November 3, 2021, or earlier, please follow this link to the archived Correspondent Lending Guides. These updates apply to everyone using the … Continue reading "21-11-18 Announcement—November 18 2021 Program Guidelines Update"

The housing market is hot right now and, in many areas, housing prices have never been higher. This exacerbates an existing problem for many borrowers, specifically how difficult it can be to afford a down payment (and closing costs) when saving takes time and home prices keep growing. Down payment assistance can help alleviate this … Continue reading "4 Successful Down Payment Assistance Strategies For Lenders"

11/03/2021 Version 11.6 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 11/03/2021 unless otherwise noted. To review the program guidelines changes made October 19, 2021, or earlier, please follow this link to the archived Correspondent Lending Guides. These updates apply to everyone using … Continue reading "21-11-03 Announcement—November 3 2021 Program Guidelines Update"

10/19/2021 All policy changes and updates are referenced below to the appropriate section of the CLG. These policy changes are effective 10/19/2021 unless otherwise noted. To review the program guidelines changes made October 5, 2021, or earlier, please follow this link to the archived Correspondent Lending Guides. These updates apply to everyone using the Chenoa … Continue reading "21-10-19 Announcement—October 19 2021 Program Guidelines Update"