CHENOA Fund New Hampshire

Chenoa Fund is a down payment assistance program offered by CHENOA Fund NH CBC Mortgage Agency (CBCMA), a subsidiary of the Chenoa Foundation. The program, available in New Hampshire, provides eligible borrowers with down payment and closing cost assistance to make homeownership more affordable.

Eligibility for the Chenoa Fund program is based on several factors, including income, credit score, and the type of loan. Borrowers must have a minimum credit score of 640 and meet certain income requirements to qualify. Additionally, the loan must be a first-time homebuyer loan, and the property must be located in a designated low-to-moderate income census tract.

The Chenoa Fund program provides assistance in the form of a non-repayable grant, which is applied to the down payment and closing costs. This grant can be combined with other forms of assistance, such as state or local down payment assistance programs, to help cover the cost of homeownership.

Chenoa Fund is a unique program in New Hampshire, as it provides borrowers with the opportunity to achieve homeownership through a combination of grant funding and traditional mortgage financing. This allows eligible borrowers to purchase a home with a smaller down payment and lower monthly mortgage payment, making homeownership more accessible and affordable.

In addition to the Chenoa Fund program, CBCMA also offers several other programs to help borrowers achieve homeownership, including the HomeReady program, which provides affordable financing for low-to-moderate income families, and the Home Possible program, which offers flexible financing options for borrowers with limited down payment funds.

Chenoa Fund program is an innovative and effective solution for eligible borrowers in New Hampshire who are looking to achieve homeownership. By providing down payment and closing cost assistance, the program makes homeownership more accessible and affordable, helping to promote homeownership and strengthen communities. If you think you might be eligible for the Chenoa Fund program, it’s important to reach out to a participating lender to learn more.

Popular DPA Programs In New Hampshire

USDA Loans

CHENOA Fund

FHA Loans

Zero Down Mortgage

Why DPA NH?…

DPA NH is a proud member of a nationwide network that facilitates the connection between homebuyers, specialized lenders, and real estate agents who are knowledgeable about down payment assistance programs. It is imperative to not only be familiar with the names of these programs, but also to possess a comprehensive understanding of their guidelines and qualification criteria.

Unfortunately, many homebuyers are unaware that some real estate agents may only work with one lender and have limited knowledge of down payment assistance programs.

Our objective is to ensure that you have peace of mind and confidence in working with a specialized team that has a deep understanding of DPA programs.

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New Hampshire DPA Counties

Hillsborough County

Rockingham County

Belknap County

Merrimack County

Carroll County

Strafford County

Sullivan County

Grafton County

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NH CHENOA Fund Frequently Asked Questions

What is the CHENOA Fund and how does it work?

The CHENOA Fund is a down payment assistance program designed to help low- to moderate-income families achieve their goal of homeownership. The program is designed to provide a grant to cover a portion of the down payment and closing costs, which reduces the amount the homebuyer needs to save or finance. The CHENOA Fund is administered by CBC Mortgage Agency (CBCMA), a non-profit organization.

Who is eligible for the CHENOA Fund and what are the requirements for participation?

Eligibility for the CHENOA Fund is based on a number of factors, including income, credit score, and the type of loan the homebuyer is seeking. In general, the program is available to low- to moderate-income families who are first-time homebuyers or who have not owned a home in the past three years. To participate in the program, homebuyers must meet certain credit, income, and employment requirements, and must attend a homebuyer education course.

How does the CHENOA Fund compare to other down payment assistance programs and what are the benefits of using it?

The CHENOA Fund is just one of many down payment assistance programs available to homebuyers. It is similar to other programs in that it provides a grant to help cover a portion of the down payment and closing costs. However, the CHENOA Fund has some distinct benefits, including its non-profit status and its flexible eligibility requirements, which allow more families to participate. Additionally, the CHENOA Fund can be combined with other down payment assistance programs and government-backed loans, making it a valuable resource for first-time homebuyers who are trying to save enough money to purchase a home.