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Chenoa DPA : Down payment assistance offered by JBee Home Loans

chenoa dpa offered by jbee home loans

Chenoa DPA: An affordable housing program provided through a federally chartered government entity with Forgiveable Loans

Chenoa Fund is provided through CBC Mortgage Agency (CBCMA), a federally chartered government agency. CBCMA’s mission is to increase affordable and sustainable homeownership, specifically for creditworthy, low and moderate-income individuals. CBCMA partners with quality mortgage lenders on a Correspondent basis.

620 Minimum credit score required on Single family homes, condos, and townhomes

3.5% Down Payment Assistance forgivable after 3 years of on time payments

3.5% Second mortgage is a 0.00% loan forgivable after three years of on time payments are made on the first mortgage. There is no payment due on the second mortgage.

640 Minimum Credit Score on Manufactured Homes

Homes must meet HUD requirements.

3.5% Down Payment Assistance forgivable after 3 years of on time payments

3.5% Second mortgage is a 0.00% loan forgivable after three years of on time payments are made on the first mortgage. There is no payment due on the second mortgage.

Income Requirements

115% of Area Median Income

Riverside & San Bernardino Counties: $ 86,595

Los Angeles County: $ 88,895

Orange County: $ 118,450

San Diego County: $ 106,605

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