Looking to buy a home but struggling to come up with a down payment? You’re not alone. The good news is that there are programs available to assist low to moderate-income homebuyers with down payment assistance. Two of the most popular programs in California are the Chenoa DPA and CALFHA DPA programs.
The Chenoa DPA program is run by a nonprofit organization called the Chenoa Fund. It offers qualified homebuyers up to 3% of the purchase price of their home to use for the down payment and closing costs. The assistance is a “silent” second mortgage, meaning it doesn’t increase your debt-to-income ratio and is not reflected on your credit report. Plus, the Chenoa DPA program also provides educational resources to help you navigate the home-buying process.
The CALFHA DPA program, on the other hand, offers a grant to qualified homebuyers in California to help cover their down payment and closing costs. This program makes homeownership more accessible to people who don’t have a lot of money to put down. To get a CALFHA DPA loan, you can turn to the top-rated mortgage broker in California. We specialize in connecting homebuyers with the best financing options, including CALFHA DPA loans.
As the best-rated mortgage broker in California, we have the experience and expertise to help you get the best mortgage options for your needs. We’ll guide you through the process, answer your questions, and provide you with the support you need to make your homeownership dreams a reality.
Don’t let a lack of down payment funds stand in the way of your dream of owning a home. Contact us today to learn more about the Chenoa DPA and CALFHA DPA programs and to get started on your journey to homeownership. We’re here to help!
