How does the Chenoa Fund work? The Chenoa Fund provides second mortgages to be used with FHA loans to cover the minimum down payment requirement when purchasing an FHA-insured home. In effect, pairing the DPA with an FHA loan requires no money from the borrower, and the entire cost of the house is financed. The …
CMG’s Rate Protection Program is a win-win for borrowers!
Every rental payment you make is building equity for someone else. Home values are predicted to continue to appreciate. The prices you see today are going to continue to rise. Don’t you want to realize that appreciation for yourself? CMG’s Rate Protection Program (RPP) allows you to get off the sidelines and buy the …
Continue Reading about CMG’s Rate Protection Program is a win-win for borrowers!
Save money with an FHA streamline refinance
Who is it for? If you’re a Virgina homeowner with an existing FHA loan and are looking for ways to lower your monthly payments without having to provide large amounts of credit documentation and undergo extensive underwriting, an FHA streamline refinance could be the perfect solution. This refinancing option is …
Continue Reading about Save money with an FHA streamline refinance
Mortgage options for self-employed borrowers
Why is self-employed different? Self-employed people often struggle to qualify for a home loan because their income is challenging to verify. Traditionally, lenders will ask to see a borrower's W2s and tax returns. Since Virginia business owners do not get W2s and often use tax write-offs for business expenses, their …
Continue Reading about Mortgage options for self-employed borrowers
High-interest debt solutions
How to tackle high-interest debt High-interest debt, such as credit card debt, personal loans, payday loans, and auto loans with interest rates of 8% or more, can be a significant financial burden. Financial advisors often recommend prioritizing the repayment of such debt before other financial goals. If you find …
Multi-generational housing benefits
What is Multi-generational housing? Multi-generational housing, a unique living arrangement where multiple generations (such as parents, children, and grandparents) share a household, is gaining popularity in Maryland. It's not just a solution for families trying to navigate the challenging housing market as …
