Chenoa Down Payment Assistance and FHA Loan
Bringing Dreams Closer With Chenoa and FHA: Making Homeownership Accessible
Harness the power of Chenoa's Down Payment Assistance combined with the flexibility of FHA Loans. Perfect for first-time homebuyers.
Pros of Chenoa and FHA Loans
1
No Immediate Down Payment
Chenoa covers your 3.5% down payment, easing your entry into homeownership.
2
Forgivable Second Mortgage
If conditions are met, Chenoa's assistance can become a forgivable second mortgage.
3
Broad Eligibility Criteria
FHA's flexible requirements, combined with Chenoa, opens doors for many more borrowers.
Cons of Chenoa and FHA Loans
1
Mortgage Insurance
As with all FHA loans, you'll need to pay upfront and annual mortgage insurance premiums.
2
Income and Geographic Restrictions
Chenoa has specific income and geographic limitations you'll need to meet.
Key Issues That Will Get Early Attention
1
Review Eligibility
We'll work together to review your eligibility for this combined program.
2
Understand Mortgage Insurance
We'll ensure you fully understand the costs associated with FHA mortgage insurance.
3
Assess Financial Position
We'll carefully assess your financial situation to ensure this program suits your needs.
4
Navigate Income and Geographic Restrictions
We'll help you navigate Chenoa's specific requirements to make sure you qualify.
