Chenoa Fund Blog

Many Americans spend years saving up enough money for a down payment on a home. Under normal circumstances, the endeavor is a major struggle that takes hard work, diligence and sacrifice. But over the past year, the struggle has gotten harder than ever. Thanks to inflation and the lingering impacts of the Covid pandemic, a … Continue reading "The Case of the Disappearing Down Payment—And How to Solve It"

Across the U.S., there are millions of renters who yearn to be homeowners or who are at least wondering if they would be better off owning their own home. For many, the decision often boils down to the current state of the housing market and whether home prices and interest rates are going up or … Continue reading "Home Buying Advantages Not Available to Renters"

Housing markets are always evolving, although today’s market looks starkly different than it did one year ago. Not only have interest rates roughly doubled over the past year, but housing prices are lower, too. In fact, 2023 could see the first year-over-year decline in prices since the Great Recession. As 2023 gets under way, many … Continue reading "How Softening Home Prices Impact New Originations"

With interest rates significantly higher than they were a year ago, many would-be homebuyers have put their homeownership dreams on hold. But in an otherwise challenging market, a bright spot has emerged. Over the past several months, housing prices have dropped considerably in many U.S. markets, enough to keep the American Dream of many first-time … Continue reading "How to Help Your Borrowers Take Advantage of Falling Home Prices"

The U.S. housing market hasn’t been too friendly to first-time homebuyers for some time. In fact, potential homebuyers have experienced a double whammy of sorts that has kept many of them on the sidelines. The first “whammy” was home prices, which rose to record levels in recent years. The second was interest rates, which have … Continue reading "What Falling Home Prices Mean for Your Borrowers"

For those of us who work in the housing industry, few things are more fulfilling than helping individuals and families buy their first home. In fact, it’s why most of us got into the business. Having a place to call your own is the culmination of the American experience. But it’s not always easy to … Continue reading "What makes the Chenoa Fund down payment assistance program unique?"

There’s no doubt that today’s higher interest rates are making it harder for Americans to buy their first home. But even with rates increasing, buying a home is still a better option than renting for many people. If you have FHA-eligible borrowers who are trying to decide whether buying a home today is the right … Continue reading "Why Buying is Still Better than Renting"

Let’s be honest—it’s a tough market for originators, especially with interest rates at their highest level in decades. But if you’re passionate about serving your customers—especially first-time homebuyers—now is not the time to throw in the towel. Yes, rates are higher and home inventories are tight in many markets. But many people still yearn to … Continue reading "3 Ways to Increase Homebuyer Opportunities"

The decision to purchase a home is not an easy one to make. Many still consider the American Dream to be homeownership, and while having a dream is often a great source of motivation, dreams may also be paired with high expectations and anxieties related to living up to those expectations. This puts many would-be … Continue reading "Can Down Payment Assistance Ease Homebuying Concerns for Worried Buyers?"

What would you do if one-third of the loans that you worked on could be saved? How many families would you help become homeowners? How much would it grow your income? A recent Down Payment Resource (DPR) study found that 33% of declined mortgage files were eligible for down payment assistance—down payment assistance that could … Continue reading "How to Save Up to One-third of Denied Mortgages"