The Dream Of Home Ownership Meets
The Financial Tools To Get It Done...

My husband and I have tried to buy a home for 16 years. Either credit, money or both were the issues. We love our new home and are so grateful for the help we received from the Chenoa Fund.”

— Millicent & Scott M

Our Mission

As a federally chartered, public-purpose driven government agency, we work to increase affordable and sustainable home ownership opportunities for credit-worthy individuals who lack down payment funds.

Home Ownership Isn't For Everyone - But Housing Is

While we have minimum credit scores that may put some borrowers out of the reach of our direct assistance, we believe that through assisting credit-worthy families to overcome the down payment assistance barrier, we can reduce the competition for “shelter” housing, which in turn helps to reduce its cost and increase its availability for those we cannot assist directly.
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Our Program

FHA Underwriting
Minimum Fico Score
First Time Home Buyer Restrictions
Income or Geographic Restrictions
Equity Share or Recapture Provisions
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3.5% Down Payment provided by Chenoa Fund
Area Median Income to
 Qualify For DPA Forgiveness
Area Median Income To Qualify For Assistance 

Under-served Markets
Lower Income

Affordable Housing For Credit Worthy Families

Financial Tools
We believe that everyone in America should have access to affordable housing, and our mission is to make that happen by providing credit-worthy families the financial tools to purchase a home. We believe that by assisting responsible home buyers to overcome the challenge of the minimum investment required for a mortgage, we are helping to create healthy communities by improving the balance between home ownership and other types of housing.

Chenoa Fund

Funding Opportunties
Chenoa Fund is an affordable housing program provided through CBC Mortgage Agency (CBCMA), a uniquely created and organized government institution. CBCMA specializes in providing down payment assistance solutions in conjunction with FHA loans, with a focus on providing funding for affordable housing opportunities in communities nationwide.

CBC Mortgage Agency

Federally Chartered
CBCMA is a federally chartered, public-purpose government lender. CBCMA created Chenoa Fund to help lenders to assist their borrowers to obtain the 3.5% minimum required investment on an FHA loan. CBCMA partners with quality, delegated mortgage companies in providing a simple and profitable program, in an effort to increase affordable and sustainable home-ownership opportunities for credit worthy individuals. For more information, call 866-563-3507.

CBCMA partners with quality mortgage lenders on a correspondent basis to provide down payment assistance for qualified home buyers in the form of second mortgages. All assistance is provided in compliance with FHA guidelines.
100% Home Financing
100% Responsible
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Chenoa Fund Loan Process Details

Chenoa Fund works only with approved, full eagle correspondent lenders. It does not work directly with borrowers. If you are a borrower viewing this page, please contact your local mortgage lender for details.

Register Your Loan

  1. To register simply CLICK HERE. Once you completed you will be able to print off a registration/rate lock form.

  2. You will receive the second mortgage disclosures from CBCMA registration department.

  3. Second mortgage disclosures to your borrower.

Close Your Loan

When closing is ready, Correspondent logs on, requests CD 3 days before closing, and receives back from CBCMA the Initial/Final CD as well as the 2nd mortgage docs if applicable.

Sell Your Loan

The mortgage loan is reviewed for credit and compliance. Any deficiencies will be view-able online to Correspondent, who can then clear the conditions allowing us to purchase the loan. Average turn times are 48 hours from the time of upload until conditions are issued.

Chenoa Fund
Program Guidelines
Program Guidelines Summary
The objective of the Chenoa Fund is to assist as many home buyers as possible to achieve the dream of home ownership. Our guidelines are designed to allow as many credit-worthy borrowers as possible the ability to purchase a home. Below are some highlights of our guidelines, or you may also view our complete Program Guidelines.
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Originator Resources
We work hard to make sure that your closings happen on-time and with as little hassle as possible. Our staff of professionals will provide you with everything necessary to make sure your loan closes smoothly.
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We Offer
Quick, Easy Closings...
For general questions regarding your loan contact our servicing team at: 866-563-7572


For Homeowner account or payment information Click Here.
Business Partners
To contact our sales team call: 866-563-3507

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This site is for informational purposes and is for use by licensed industry professionals.
This site and the information contained therein is not a solicitation to lend money to consumers.


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