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.
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Minimum Credit Score

50%

Maximum Debt To Income

105.00%

Maximum Loan To Value

$822k

Maximum Loan Amount

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.

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