Down Payment Assistance Program
Chenoa Fund is an affordable housing program funded by CBCMA, a federally chartered government agency. CBCMA's mission is to increase affordable and sustainable home ownership, specifically for credit-worthy, low- and moderate-income individuals. CBCMA specializes in providing financing for loans under the guidelines of FHA and Fannie Mae and partners with quality mortgage lenders on a correspondent basis.With this program, borrowers receive a 30-year term, 0% rate, no payment second mortgage.The loan is forgiven once the borrower makes 36 consecutive on-time payments on the original FHA first mortgage.