Chenoa is a down payment assistance program, that a buyer can use to get into a home for 0% down!
Make use of down payment assistance to get into your first home!
All of the homes below qualify for the 0% down payment program.
Borrower can obtain the gift option which means no repayment at all (forgiven).
Soft second which means no payments but will need to be in the home min 3 years to be forgiven.
a 2nd mortgage is giving for the down payment amortized over 30 years like any 2nd lien.
The State of California will allocate some of the Down Payment Assistance funds for Gift Option, and some of the Down Payment Assistance funds for Soft Seconds, and the remaining Down Payment Assistance funds to the Hard Seconds. Typically the gift down payment assistance funds get used first so Apply now!
Here are the Income restrictions for these counties in California.
Los Angeles $71,760
San Diego $84,525
One of the biggest hurdles to purchasing your first home is the down payment. The Chenoa 3 down payment option gives you the option to finance your down payment!