The Chenoa Fund down payment assistance program offers up to 3.5% of the purchase price towards your down payment throughout Arizona. Income limitations are based on Area Median Income and type of down payment assistance. You do not need to be a first-time homebuyer but must meet minimum FICO scores of 620.
Chenoa Fund has created this program for individuals or families that need down payment assistance but may lack the higher credit scores that other programs require. The 3.5% down payment assistance is a silent or fully amortized second mortgage that is combined with a FHA first loan on a 30 year fixed rate mortgage. Financing for these loans is available on single family homes ONLY.