An affordable housing program provided through a federally chartered government entity.

100% DPA correspondent line for FHA & Conventional

Excellent program options for FHA & Conventional Loans.


No first-time borrower requirements (see guidelines below)

Add Chenoa Fund to your product line today. 

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If you would like more information about this program, please contact the program development team.

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Down Payment Assistance Offered in Conjunction with FHA-Insured Mortgages. 

  • Chenoa Fund Edge Program. With this program, the borrower receives a 30-year term, 0% rate, no payment, second mortgage. Borrowers will need to meet the minimum FICO score of 620 and have a qualifying income less than or equal to 115% of the median income for the county in which the borrower will live. The loan is forgiven as soon as the borrower makes 36 consecutive on-time payments on the FHA first mortgage.  
  • Chenoa Fund Repayable Second Program. With this program, the borrower does not have any income restrictions. There are two options for the repayable second. The borrower can choose a 10-year repayable second at 0% interest rate or a 30-year repayable second at 5% interest rate. Borrowers will need to meet the minimum FICO score of 620. This assistance must be repaid in full.  
  • Chenoa Fund Rate Advantage Program. With this program, the borrower is able to lock their first mortgage at a market comparable rate. Borrowers will need to meet the minimum FICO score requirement of 640, have a debt to income ratio of 50% or less, and have qualifying income less than or equal to 115% of the median income for the county in which the borrower will live.  


Down Payment Assistance Offered in Conjunction with Conventional Mortgages CBCMA offers second mortgages for use in conjunction with 97% LTV conventional mortgage financing for low-to moderate-income borrowers, with expanded eligibility for homes in low-income communities. Additional options exist where there are no income limits. Borrowers will need to meet a minimum FICO score of 640 and other conventional underwriting guidelines.


This inquiry is for information purposes only and intended for licensed industry professionals. The site and the information contained therein is not a solicitation to lend money to consumers.

CBCMA Does Not Originate Mortgage Loans. This is not an offer to lend money nor a solicitation of a mortgage application by CBCMA.