Down payment assistance programs offered by CBC Mortgage Agency are available to both first-time homebuyers and existing homeowners in the state of Tennessee. CBC Mortgage Agency provides down payment assistance in Tennessee to help low-to-moderate income individuals and families with their home purchase.
First-Time Homebuyer Program
CBC Mortgage Agency has a variety of program options available for first-time homebuyers in Tennessee. These programs are geared towards but are not limited to first-time homebuyers, making it easier for them to purchase homes. Down payment assistance can significantly reduce the upfront costs of buying a home, making purchasing a home a reality for those who wouldn’t have the funds necessary for a traditional 20% down payment.
Closing Cost Assistance
In addition to down payment assistance, CBC Mortgage Agency allows its funds to be used as closing cost assistance. Closing costs can add up quickly and can be a barrier for many homebuyers in Tennessee. With the Chenoa Fund down payment assistance program, you can use a portion of the financial assistance towards items such as appraisal fees, title insurance, and lender fees. This can help make the homebuying process more affordable and manageable for low-to-moderate income individuals and families.
Tennessee Down Payment Assistance
Homebuyers in Tennessee looking for down payment assistance may apply for Chenoa Fund down payment assistance through an approved lender. CBC Mortgage Agency provides assistance in the form of secondary financing that may be either forgivable or repayable and may require a monthly payment depending on which option is selected.
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The Down Payment Assistance Program Remains Funded All Year Long.
The Chenoa Fund down payment assistance program is not a bond program. This means that CBC Mortgage Agency isn’t at risk of running out of funds for its program.
