Chenoa Fund Loan Program Guidelines
The Chenoa Fund program has very flexible requirements compared to other loan programs. Learn more below to see if you can use this affordable option when buying your home.
0% Down Payment
Step into your new home with zero down payment.
This program requires a minimum 640+ FICO credit score.
50% Max DTI
Your debt-to-income ratio should be no more than 50%.
Overview of the Chenoa Fund Down Payment Assistance
The Chenoa Fund is an affordable housing program administered by CBC Mortgage Agency (CBCMA), a federally chartered governmental entity. CBCMA specializes in providing down payment assistance financing under FHA and conventional guidelines.
This program is not only for first time home buyers. Meeting the credit requirements and staying below the DTI percentage will help the home buyer qualify for more.
Additional Benefits of the Chenoa Fund
There are additional pros of going with this program when purchasing your home.