Chenoa Fund Repayable Second Program Down Payment Assistance for FHA Loans Chenoa Fund is an affordable housing program provided Because these loans are repayable, the borrower will have a through CBC Mortgage Agency (CBCMA), a federally chartered payment...
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Chenoa Fund Repayable Second Program Down Payment Assistance for FHA Loans Chenoa Fund is an affordable housing program provided Because these loans are repayable, the borrower will have a through CBC Mortgage Agency (CBCMA), a federally chartered payment for the first mortgage and a payment for the second government agency. CBCMA specializes in providing down mortgage. The second mortgage can be paid off at any time payments for borrowers receiving an FHA 1st mortgage. during the loan period without penalty. CBCMA’s mission is to increase affordable and sustainable home- WHY WAS THE CHENOA FUND REPAYABLE ownership, specifically for creditworthy, low and moderate-income SECOND PROGRAM CREATED? individuals. CBCMA partners with reputable mortgage lenders While many people do manage to purchase a home by saving on a Correspondent basis to provide down payment assistance for for a down payment over a period of years, increasing home qualified home buyers in the form of second mortgages and
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