PROGRAM HIGHLIGHTS

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No income limits

No purchase price limits

No city/county restrictions (property must be located in Washigton State)

No first-time home buyer requirement

No minimum investment required

No education class certificate required

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Chenoa may be combined with FHA financing and must meet all FHA requirements

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Within this program there are two options for down payment assistance:

 

1. If the buyer is under 115% Area Median Income ($110,400 in King/Snohomish Counties and $85,675 in Pierce) the buyer can utilize a second mortgage (3.5% of first mortgage amount) with 0% interest, no payments and forgiven after 36 months into repayment of the first mortgage.

 

2. If the buyer exceeds the 115% AMI limit they can utilize a second mortgage (3.5% of first mortgage amount) at either a 10 year fixed repayment at 0% interest rate or a 30 year fixed repayment at a 5% interest rate

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This is not a commitment to lend. For more information please contact me at 253.232.5843