A quick refresher on a program to help buyers buy a home with NO Money down! The Chenoa product is designed to open up doors to buyers with limited money, lower credit scores and higher debt to income ratios.  In some circumstances, people that are buying a new primary residence can still use the program and keep their existing home!Here are some quick highlights of the program.* Offers 3.50% second for the down payment, FHA financing only*  Credit scores as low as 620, buyer will have to take an online home buying course prior to contract if their score is between 620 and 639* Offered in MD, DC and VA* 50 percent debt to income on all programs offered through the Chenoa product (most down payment programs have a 45% cap for the debt to income ratio)* No income limits for their repayable 2nd product (this is huge and completely different than any program out there)* Program can be used for move up buyers and … [Read more...]