Chenoa Fund eligibility — 600 FICO minimum, FHA 203(b) pairing only, occupancy rules, education requirements, and typical FHA income flexibility.
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Chenoa Fund
Who Qualifies for Chenoa Fund?
Chenoa opens doors for buyers with qualifying credit and a steady file — but every scenario still passes full underwriting. Here is what Ryan and Steve screen before you write an offer.
Chenoa Fund generally requires a minimum 600 FICO score. Higher scores unlock better first-mortgage pricing, which lowers your total monthly payment even when Chenoa covers your upfront costs.
Underwriters also review debt-to-income ratio, employment history, and asset reserves. Chenoa does not replace standard FHA qualification — you must qualify for both the FHA 203(b) first loan and the Chenoa second.
Recent bankruptcies, foreclosures, or significant collections may require waiting periods per FHA guidelines before Chenoa can be layered on your purchase.
Chenoa assistance pairs with specific first-mortgage products on primary residences only.
Occupancy must be primary residence. Second homes, investment properties, and non-owner-occupied purchases do not qualify under standard Chenoa products.
Rules that catch buyers off guard — and how Ryan and Steve screen them early.
Related Chenoa guides and loan programs to compare before you apply.
Ryan & Steve run a full eligibility screen — credit, loan type, occupancy, education, and income limits — before you shop.
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.