down payment: HUD's new rules on Down Payment is the top story of 2019 - 07/05/19 10:51 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. 
 
 
HUD's new rules on Down Payment is the top story of 2019 according to HousingWire.   HUD's mortgagee letter 2019-06 took effect April 18th of this year.  This was followed by a flurry of legal activity with CBC Mortgage Agency suing HUD over the rule and the court issuing a 90-day stay to hear the arguments against the Mortgagee letter.  This stay remains in effect until July 23rd, but it is anticipated that the court will make … (0 comments)

down payment: Rental Markets create a squeeze gate for home purchases - 06/28/19 10:35 AM
Two recent articles analyze the Rental Market and the affordability of renting vs. buying.  The first, a housingwire article, cites a Freddie Mac survey that 82% of renters now view renting as more affordable than homeownership.  Compare this article to a recent Rent Report by Zumper; it states that some markets such as the most expensive, San Francisco, CA, command a two-bedroom rental rate of $4720 a month!  When rental markets are strong, there is typically a lack of affordable housing or financial ability to obtain a mortgage.  Boise, Idaho, for example, suffers from a lack of affordable housing because the average … (0 comments)

down payment: Manufactured Home Down Payment Assistance - 06/17/19 12:52 PM
Considered by some as the first mobile home, the Conestoga wagon had a curved floor to prevent tipping and shifting during difficult treks.  Chenoa Fund, offered by CBC Mortgage Agency--a federally-chartered housing finance agency, provides options for borrowers who need help with their down payment.   Many Housing Finance Agencies (HFA's) won't lend on manufactured homes, sometimes called mobile homes, even though FHA allows Manufactured that is placed on a permanent foundation.  The difference between manufactured and modular homes is that manufactured were originally built on a chassis that allowed them to be towed; they are considered chatel (non-real estate property).   Modular … (0 comments)

down payment: 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)

down payment: Get approved with Chenoa Fund--Correspondent Lending - 06/14/19 12:22 PM
(This Post is written for Lending Companies seeking to offer our products)
CBC Mortgage Agency, a nationally-chartered housing finance agency, offers the Chenoa Fund, a program that provides a 96.5% 1st mortgage and a 3.5% 2nd mortgage on FHA Loans.  Lenders use our program like they would their local, municipal housing program to give more options to prospective homebuyers regarding down payment assistance.
Our program offers the following:
FHA 96.5% 1st mortgage at a competitive rate FHA 3.5% 2nd mortgage to cover down payment FICO scores as low as 620 DTI as per AUS up to 56.99 on FHA Options for all income … (0 comments)

 
Shawn King, Chenoa Fund--Get Signed Up. (CBCMA / CBC Mortgage Agency)

Shawn King

Chenoa Fund--Get Signed Up.

Los Angeles, CA

More about me…

CBCMA / CBC Mortgage Agency

Address: Lender Approval Chenoa Fund, Corporate Account Director , Los Angeles, CA

Office: (208) 991-8239

Mobile: (208) 991-8239

Email Me

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.


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