Tired of Renting?
You Could Own A Home for Less than You are Paying in Rent
Have you always dreamed of owning a home but never had the savings for a down payment? Perhaps the Chenoa Fund can provide the cash you need NOW to buy that home.
While many people do manage to purchase a home by saving for a down payment over a period of years, increasing rents and stagnant wages can make saving quite difficult.
You don’t need a large down payment to qualify for homeownership. For those that qualify, down payment assistance allows renters to become homeowners, without tapping into their savings accounts. Many of our homebuyers are building equity in their houses for a monthly payment lower than their previous rent and are now eligible to receive extra financial benefits from the federal mortgage interest tax deduction.
Learn about the Chenoa Fund Down Payment Assistance. The Chenoa Fund is a nation-wide down payment assistance program administered by CBC Mortgage Agency (CBCMA). It is our mission to increase affordable and sustainable homeownership, specifically for creditworthy, low- and moderate-income individuals.
CBCMA Down payment assistance options have helped thousands of buyers just like you to move into their dream home, oftentimes for less than it was costing them to rent.
CBCMA has several program options to choose from that include down payment assistance in the form of second mortgages on:
- Conventional loans
- FHA insured loans
Step 1. Fill out the form to contact Chenoa Fund Representative. If you are interested in learning more about Chenoa Fund, fill out the form to receive a call from a Chenoa Fund representative.
Step 2. Talk to a Chenoa Fund representative. Once you submit the form, a Chenoa Fund representative will call to consult with you. This is not a sales call. Chenoa Fund does not originate loans.
During the 5-10-minute conversation, you can share your goals for buying a new home, learn about Chenoa Fund programs and down payment assistance, and get answers to your questions.
If at the end of the conversation you would like to move forward, the Chenoa Fund representative can refer you to several lending professionals in your area who can help you build a road map toward homeownership.
CBCMA partners with reputable mortgage lenders on a correspondent basis to provide down payment funds for qualified home buyers in the form of second mortgages. All assistance is provided in compliance with FHA guidelines.
Step 3. Call a Mortgage Lending Professional. Once you receive the referral from the Chenoa Fund representative, you can call and talk and/or make an appointment with any of the lending professionals to discuss your goals.
If you would like more information about this program, please contact our program development team.
CBCMA Does Not Originate Mortgage Loans. This is not an offer to lend money nor a solicitation of a mortgage application by CBCMA.