Down payment assistance may be able to help you attain homeownership.
Homebuyers across the country choose Chenoa Fund Down Payment Assistance to help them with their home purchase. To date, we’ve assisted over 50,000 homebuying individuals and families with down payment assistance.
Down payment assistance for qualifying borrowers with a minimum credit score requirement of 600.
CBC Mortgage Agency follows industry standards (middle of three, lower of two) for determining which credit score to use for all Chenoa Fund™ credit score requirements. The minimum accepted credit score is 600. Use the lowest middle credit score on the loan.
A year and a half of post-purchase homeownership support.
Our borrower success team at Money Management International (MMI) provides monthly support, education materials and tools to ensure borrowers are successful homeowners.
Program remains funded all year long!
Chenoa Fund down payment assistance is always funded. CBC Mortgage Agency does not run out of funds for its down payment assistance program.
May be combined with other gift funds or assistance programs.
CBC Mortgage Agency allows gift funds or other assistance programs to be combined with Chenoa Fund down payment assistance.
No income limits.
The Chenoa Fund down payment assistance program does not have income limits.
Do not have to be a first-time homebuyer.
CBC Mortgage Agency does not require borrowers to be first-time homebuyers as part of its eligibility criteria for the Chenoa Fund Down Payment Assistance Program.
Homeownership Counseling
Qualifying borrowers below a specific credit score may be required to take a homeownership counseling course to qualify for the Chenoa Fund down payment assistance program.
CBC Mortgage Agency has partnered with Money Management International (MMI) a HUD-approved housing counseling agency to deliver a course that provides over a year and half of homeownership support. This course is free to the qualifying borrower.
Locating A Lender Near You
CBC Mortgage Agency partners with reputable mortgage lenders on a correspondent basis to provide down payment assistance for qualified homebuyers in the form of second mortgages. There are hundreds of approved lenders across the country trained to offer the Chenoa Fund down payment assistance program. To find an approved lender, simply fill out this form and a representative will get in touch with you with a list of lenders in your area.
