The Chenoa Fund provides 3.5% or 5% down payment assistance through second mortgage options, giving qualified borrowers more flexibility to cover upfront costs when purchasing a home.
Chenoa Fund Overview:
Straightforward FHA Underwriting.
No First Time Homebuyer restrictions.
Minimum 600 credit score.
3.5% or 5% down payment assistance through a second mortgage.
Chenoa Fund Down Payment Assistance
Chenoa Fund may provide 3.5% or 5% down payment assistance.
- Forgivable option: Qualified borrowers may receive assistance through a second mortgage with no required monthly payment, subject to the current forgiveness terms and program requirements.
- Repayable option: Qualified borrowers may also choose a second mortgage that is repaid through scheduled monthly payments according to the current Chenoa Fund program terms.
USA Mortgage Advantage
Full-service Lender serving Missouri and surrounding states.
In-house processing, underwriting and funding.
Accepts some lower and no credit scores for these loans.
Offers competitive mortgage rates and fees.
Apply for Chenoa Program
USA Mortgage is a Chenoa Fund lender with local offices throughout Missouri, Arkansas, Illinois, and nearby areas. Here at the Abadi Region, We have all the resources needed to make your dream a reality. If you are willing to move forward with your next home purchase, Contact us to get started. One of our experienced mortgage professionals will guide you every step of the way. Apply now to see if you qualify for the Chenoa down payment assistance.
FAQs about Chenoa Fund Program
Chenoa Fund down payment assistance can provide 3.5% or 5% with an FHA first mortgage. The program offers repayable and forgivable second mortgage options for qualified borrowers. Credit, property and other program requirements apply.
The first step is applying through a lender that offers the Chenoa Fund program. After reviewing your documentation and loan application, the lender can determine whether you meet the current Chenoa Fund requirements.
Chenoa Fund does not have a general income limit for program qualification. Depending on the applicable product, qualified borrowers may receive down payment assistance of up to 5%.
