Chenoa Fund FHA Repayable DPA (3.5%)

Chenoa Fund FHA Repayable DPA (3.5%) is a repayable second loan for homebuyers in California. Secondary financing of 3.5% of home price for FHA down payment. Repayable second mortgage (not forgivable). No income limits. Min 600 FICO. Available statewide CA through approved lenders. Can be used for both down payment and closing costs. Up to 3.5% of purchase price in assistance. Funding comes from Private/Non-profit.

Chenoa Fund FHA Repayable DPA (3.5%) provides assistance worth 3.5% of the purchase price, as set by the program. The program asks homebuyers to contribute 1% of purchase price (borrower minimum). The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Chenoa Fund FHA Repayable DPA (3.5%) is a repayable second loan and is repaid under the terms set by the administering agency. Repayment is triggered by Monthly payments required on second mortgage. The assistance is recorded in Second position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Chenoa Fund FHA Repayable DPA (3.5%) is open to homebuyers who will live in the home as their primary residence. On credit, the program states: Minimum 600 FICO score required for all borrowers. Residency requirement: Primary residence. Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen. Second mortgage repayable over 10 years at rate 2% above first mortgage rate. No income limit. FHA loan required. Min 600 FICO. Available through approved Chenoa Fund lenders.

Chenoa Fund FHA Repayable DPA (3.5%) limits household income to 115% of the area median income, which varies by county and household size. Contact program provider for current income limits. The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Chenoa Fund FHA Repayable DPA (3.5%) caps the purchase price as follows: Contact program for current purchase price limits. Eligible property types include Single-family (1-4 unit), FHA-approved condominium, townhome/PUD. New construction is eligible. Manufactured homes are not eligible.

Chenoa Fund FHA Repayable DPA (3.5%) serves homebuyers purchasing anywhere in California.

Applications for Chenoa Fund FHA Repayable DPA (3.5%) go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Contact provider directly; subject to funding availability. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.