Forgivable DPA Edge needs no monthly payment; repayable Rate/DPA Advantage uses a 10-year term. Learn when Chenoa balances come due.
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Chenoa Fund
Do I Have to Repay?
It depends on the product. Forgivable DPA Edge requires no monthly payment and can be forgiven after 36 on-time first-mortgage payments. Repayable Rate Advantage / DPA Advantage options require fixed monthly payments over a 10-year term.
Chenoa Fund is structured as a second mortgage behind your first loan. Whether you “repay” it depends on which pathway you choose — not on whether assistance feels like a gift at closing.
DPA Edge is the forgivable option: 0% interest, no monthly payment, and automatic forgiveness after 36 consecutive on-time payments on your first mortgage. Miss a payment and the forgiveness clock typically resets.
Rate Advantage and DPA Advantage are repayable: fixed competitive interest, a 10-year term, and a monthly payment that sits beside your primary mortgage payment until the second lien is paid off.
Even forgivable assistance can come due if the second lien is not yet forgiven.
Use this to decide which Chenoa structure fits your monthly budget and exit plans.
Related Chenoa guides on structure, refinance, and assistance sizing.
Ryan & Steve will model forgivable vs. repayable Chenoa against your first mortgage payment and cash-to-close goals.
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.