{"id":17723,"date":"2026-03-10T18:21:23","date_gmt":"2026-03-10T18:21:23","guid":{"rendered":"https:\/\/chenoafund.org\/?p=17723"},"modified":"2026-03-17T18:03:25","modified_gmt":"2026-03-17T18:03:25","slug":"a-privately-funded-down-payment-assistance-program-built-for-lenders-and-borrowers","status":"publish","type":"post","link":"https:\/\/chenoafund.org\/a-privately-funded-down-payment-assistance-program-built-for-lenders-and-borrowers\/","title":{"rendered":"Privately Funded Down Payment Assistance for Lenders & Buyers"},"content":{"rendered":"

A DPA Model Built for Predictability and Scale<\/span><\/span>\u00a0<\/span><\/strong><\/p>\n

Recently, we heard from a young couple in their mid-30s who were looking to buy their first home and thought they had done everything right. Both had steady jobs, solid credit scores, and careful spending habits. Every month, they paid their rent on time and even managed to set aside a\u00a0little\u00a0savings.\u00a0<\/span>\u00a0<\/span><\/p>\n

When they finally met with a lender, they were thrilled to learn they qualified for a mortgage. Then came the surprise\u2014they\u00a0didn\u2019t\u00a0have\u00a0the upfront\u00a0cash. Between the down payment, closing costs, and prepaid expenses, the total was overwhelming.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cWe can afford the monthly payment,\u201d they told us. \u201cWe just can\u2019t get over that first hurdle.\u201d<\/span>\u00a0<\/span><\/p>\n

Their story\u00a0isn\u2019t\u00a0unusual. For many would-be buyers, the dream of homeownership\u00a0doesn\u2019t\u00a0stall because of income or credit. It stalls because saving a large lump sum can feel\u00a0nearly impossible\u00a0when\u00a0you\u2019re\u00a0already paying rent, student loans, and everyday expenses. And that\u2019s where down payment\u00a0assistance\u00a0may come in (for qualified applicants).\u00a0<\/span>\u00a0<\/span><\/p>\n

What Is Down Payment Assistance?<\/span><\/b>\u00a0<\/span><\/p>\n

Down payment\u00a0assistance<\/a>, often called DPA, is financial support that helps qualified homebuyers cover the upfront costs of\u00a0purchasing\u00a0a home. That typically includes the down payment as well as closing costs and prepaid expenses, like taxes and insurance.<\/span>\u00a0<\/span><\/p>\n

Depending on the program, DPA may be structured as a second loan or other form of financing that works alongside the primary mortgage, making it easier for borrowers to move forward without having to save the full lump sum on their own.<\/span>\u00a0<\/span><\/p>\n

Many DPA programs are funded through federal, state, or local government appropriations. While these programs serve an important purpose, they can be subject to funding interruptions, geographic limitations, and income caps tied to Area Median Income (AMI). However,\u00a0CBC\u00a0Mortgage Agency (CBCMA)\u00a0operates\u00a0differently.<\/span>\u00a0<\/span><\/p>\n

The Potential Advantages of Being Privately Funded\u00a0<\/span><\/b>\u00a0<\/span><\/p>\n

At CBCMA,\u00a0we\u2019ve\u00a0built a national, privately funded DPA program through the Chenoa Fund\u00a0that\u2019s\u00a0designed to expand access to homeownership while supporting lenders with a stable, streamlined solution.<\/span>\u00a0<\/span><\/p>\n

Unlike programs that rely on government funds, our program is funded through private capital. This structure allows us to:<\/span>\u00a0<\/span><\/p>\n