Chenoa Fund™ is a national down payment assistance program administered by CBC Mortgage Agency, a federally chartered governmental entity. CBC Mortgage Agency specializes in providing down payment assistance financing under FHA and FNMA conventional guidelines.
Chenoa Fund is a down payment assistance program to help creditworthy, low and moderate-income families. Benefits this program provides are the following: Receive a second mortgage to cover their 3.5% minimum down payment requirement when purchasing an FHA-insured home; 5% down payment assistance.
They offer housing grants for Veterans and service members with certain service-connected disabilities so they can buy or change a home to meet their needs and live more independently.
Freddie Mac offers the Home Possible Mortgage Program to help home buyers with limited resources afford mortgages. The Home Possible program enables home buyers to buy a home with a down payment as low as 3.0% of the property purchase price and no minimum borrower financial contribution. The Home Possible program is similar to Fannie Mae’s Home Ready Mortgage Program.
People can find a home to purchase through Home Partners' Lease with a Right to Purchase Program. The home is rented to you, but you should be prepared to buy it in the next three to five years. This may work for people who want to buy a home but may prefer to lease while waiting to fix their finances. Depending on the state, you may lease the home for 3 to 5 one-year terms. They may also sell you the house at any time for a predetermined price.
Financial assistance up to 5%, to use for down payment and/or closing costs. The GSFA Platinum Program helps low-to-moderate income homebuyers in California purchase a home by providing down payment and/or closing cost assistance (DPA). For many homebuyers, the assistance is provided as a zero percent Second Mortgage. The Second Mortgage accrues no interest, has no monthly payments and is completely forgiven after three (3) years from the close of escrow.
