|Looking to purchase a new Charlottesville home? Now you may put as little as 0% down when you close on your dream home you’ve been saving what feels like forever, and we’re here to help you keep as much of that hard-earned money in your pocket as possible.
Through the Chenoa FHA program, you can get an FHA first mortgage with a forgivable or repayable second mortgage that can be used towards your down payment and closing costs.
|Forgivable option – Forgivable 2nd mortgage with no monthly payment purchase of a primary residence 1-2 units. Conforming and high-balance loan amounts for first-time homebuyers are not required. Homebuyer education may be required.
|Repayable option – 10-year term w/ interest rate 2% above 1st mortgage rate. Purchase of a primary residence 1-2 units. Conforming and high balance loan amounts. High Balance 3.5% DPA permitted. First-time homebuyers are not required. Again a homebuyer education may be required.
Always use a savvy Charlottesville realtor (since 2003) and get the correct comps when you decide to make an offer on any Charlottesville homes.
Toby Beavers Charlottesville Realtor