When it comes to being a lender, it can be quite challenging to offer homebuyers the right loan to take advantage of when making a life-changing decision like buying a home. In this guide we will dive into some hurdles that lenders face and how Chenoa Fund, offered by CBC Mortgage Agency, can help resolve … Continue reading "Top 3 Lender Loan Hurdles to Overcome with Homebuyers"
We could not be more excited! On January 19, 2021, HUD and the Federal Housing Administration began allowing DACA recipients to apply for FHA mortgages. This excellent news means that thousands more immigrants will be able to access affordable homeownership through FHA’s mortgage program and through down payment assistance programs (which have helped thousands of … Continue reading "Chenoa Fund Opened to Thousands More with Recent FHA Announcement"
FHFA has announced that the conforming loan limits for 2021 will increase to $548,250. (Find the original announcement here.) CBCMA always follows Agency guidelines with regards to loan limits; conventional loans at or under this limit may qualify for Chenoa Fund down payment assistance, provided they meet Chenoa Fund’s other requirements. Conventional high balance loans, … Continue reading "FHFA Announces 2021 Conforming Loan Limits"
FHA Classic: Chenoa Fund’s First Non-DPA Program A lot has changed in the mortgage industry recently; quarantines and shutdowns have forced everyone to evolve quickly in response to the coronavirus pandemic, and the results haven’t always been good. In particular, borrowers with low credit have been hit hard, and many can’t find lenders willing or … Continue reading "FHA Classic: The First Non-DPA Chenoa Fund Program"