97: Solution for High-Income Borrowers in need of Down Payment
- 06/17/19 11:47 AM
Chenoa Fund, offered by CBC Mortgage Agency, provides 1st and 2nd mortgage products on a national level to home buyers who need assistance with their down payment. We do this through a channel of approved correspondent lenders in much the same way as local and state Housing Finance Agencies (HFA's). One difficulty many prospective home buyers face is despite higher income, they still haven't been able to save for a down payment. Borrowers in strong rental markets may be paying the same or more as a comparable mortgage payment to rent a home, and many local HFA's have programs to assist lower-income … (0 comments)
I help correspondent lenders get approved with Chenoa Fund, offered by CBC Mortgage Agency. I've been associated with the real estate industry for over 15 years.
Chenoa Fund, offered by CBC Mortgage Agency, provides 1st and 2nd mortgage products on a national level to home buyers who need assistance with their down payment. We do this through a channel of approved correspondent lenders in much the same way as local and state Housing Finance Agencies (HFA's). One difficulty many prospective home buyers face is despite higher income, they still haven't been able to save for a down payment. Borrowers in strong rental markets may be paying the same or more as a comparable mortgage payment to rent a home, and many local HFA's have programs to assist lower-income … (0 comments)
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