CHENOA DPA EDGE PROGRAM Offers Down Payment Assistance Read more

CHENOA DPA EDGE PROGRAM Offers Down Payment Assistance

  •  Home buyers receive up to 3.5% of the purchase price for down payment
  • The 3.5% down payment assistance can come in the form of the following:
    • gift that does not need to be paid back
    • a soft/forgivable secondary financing
    • or a fully amortized second mortgage with a term of 10 or 30 years that does require the funds to be paid back
    • Eligible Buyers who qualify for the soft/ forgivable secondary financing, the 2nd mortgage will be forgiven after 36 on-time payments on your first mortgage
  • Minimum credit score of 640 or higher

             Documentation for your loan officer, see below:

  • Last 60 Days Bank Statements – to source down payment
  • Last 30 Days Pay Stubs
  • Last Two Years W2’S
  • Last Two Years Tax Returns
  • Driver’s License

*Program currently under review*

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