Chenoa Fund delivers 3.5% or 5% of your purchase price toward down payment or closing costs — here is what that looks like in real dollars and how Ryan & Steve size your cash to close.
Assistance is calculated as a percentage of the purchase price — not the loan amount.
| Purchase price | 3.5% assistance | 5% assistance |
|---|---|---|
| $250,000 | $8,750 | $12,500 |
| $350,000 | $12,250 | $17,500 |
| $400,000 | $14,000 | $20,000 |
| $500,000 | $17,500 | $25,000 |
Example: a $400,000 home at 5% assistance = $20,000 toward down payment or closing costs.
Chenoa assistance is flexible — Ryan and Steve allocate it where your file needs it most.
On FHA 203(b), 3.5% Chenoa can cover the entire minimum down payment. 5% assistance can also help with closing costs so you keep more cash after closing.
Origination, title, appraisal, prepaids, and other settlement charges can be paid from Chenoa assistance — reducing the cash you bring to the closing table.
Your true cash-to-close number depends on purchase price, Chenoa assistance level, first-mortgage type, seller concessions, and prepaid items. Ryan and Steve build a line-item estimate before you write an offer — not after.
They model 3.5% vs 5% side by side, factor in forgivable vs repayable second-lien payments, and account for earnest money and inspection costs you pay before closing.
Use the interactive estimator on the Chenoa Fund overview page for a quick snapshot — then request a personalized review for your exact scenario.
Try the Chenoa assistance estimator →Earnest money deposit
Paid at offer — credited at closing
Inspection & appraisal
Due before closing
Down payment remainder
After Chenoa assistance applied
Closing costs
May be covered by Chenoa or seller
Prepaids & reserves
Taxes, insurance, escrow cushion
Related Chenoa guides and loan programs to compare before you apply.
Program overview — national DPA from CBC Mortgage Agency.
Pre-qual through closing and forgivable vs repayable paths.
Credit, loan type, occupancy, and education rules.
600 FICO minimum and underwriting factors.
Interactive estimator, comparison table, and form.
Compare Chenoa with IHCDA and other programs.
How FHA 203(b) pairs with Chenoa assistance.
On FHA 203(b), Chenoa 3.5% assistance can cover the full minimum down payment — potentially leaving you with little or no cash for down payment. You may still need funds for earnest money, inspections, or reserves depending on your file.
Yes. Assistance can be applied toward down payment, closing costs, or a combination. Ryan and Steve structure the split based on your first-mortgage type and how much cash you have available.
Seller concessions are separate from Chenoa assistance and may still apply within FHA contribution limits. Chenoa covers your side; seller credits reduce what you owe at closing on top of that.
Not always. Higher assistance means a larger second lien — which affects repayable monthly payments or forgiveness timelines. Ryan and Steve model both levels against your purchase price and budget before you choose.
Ryan & Steve will model 3.5% and 5% Chenoa assistance against your purchase price and first-mortgage type.
Chenoa Fund is a registered trademark of CBC Mortgage Agency. All programs are subject to borrower qualification and lender approval. This website is not directly affiliated with or endorsed by HUD, FHA, or the CBC Mortgage Agency.