The Valley Solutions Real Estate Team Has Been Helping Buyers and Sellers Since 2003

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Down Payment Assistance for Home Buyers

Chenoa Home Loan Programs 

How Does the Chenoa Loan Program Help Home Buyers?

A common challenge for home buyers can be the down payment.  Almost all loan programs, with the exception on VA loans, require the buyer to have a down payment. FHA loans promote home ownership with low down payments (3.5% of the loan amount).  The Chenoa Home Loan Program allows a borrower to purchase a home without having to provide a down payment.

The Chenoa Loan Program follows FHA guidelines for qualifications.  This provides for quick and easy approval, with a minimum credit score of 620, (other programs are available to 580 credit).  One of the best things about the Chenoa Loan Program is there is no income limits.  Most down payment assistance programs have limits and you will be declined if you make too much money.  This program allows the borrower more buying power….  the ability to purchase a larger home than most other down payment assistance programs.


Not all lenders are approved to provide the Chenoa Loan Program.  Not all REALTORS understand how this program works.  This is important to understand, not only with this program but with most down payment assistance programs including VA home loans, state and county grant programs like the Home in 5 Advantage Program in Arizona and others.

Choosing and working with experienced real estate agents is crucial.  Not only will they have a thorough understaning of the program, but will also help you by recommending the best lenders as well.

​​​​​​​The Valley Solutions Real Estate Team can not only help you purchase a home in Arizona, but can also put you in touch with the best agents around the country.

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Banks do not usually have programs to help people buy homes with no money down and no down payment. The “Chenoa Down Payment Assistance Program” provides approved borrowers with the down payment to help purchase a home.  There are lots of programs designed to promote home ownership in the United States, for example the FHA loan program and the VA loan programs.  FHA loan programs do require a down payment and the Chenoa Loan Program provides this down payment, further promoting home ownership.  In many cases, this down payment is provided and can be forgiven with no repayment necessary.

One of the Best Down Payment Assistance Programs

5. 30 years fixed rate financing, for lower monthly payment.

4. Lower credit score than other programs.

3. More Buying Power with higher debt to income.

2. NO income cap. No restrictions on maximum income.

1. No out of pocket down payment.

​​​​​​​​​​​​​​Chenoa Fund - Top 5 Reasons to Consider

Frequently Asked Questions:

Why are there Down Payment Assistance programs???
The housing market is responsible for generating 25% of all jobs in our economy.  If you have a strong housing market, you have job growth.

1. It is FREE to get approved for the program

2. Not limited to first time home buyers

3. Can qualify with less than perfect credit (Need 620 FICO)

4. No maximum income limits

5. One point of contact

6. Closings can happen in about 30 days

7. Veterans, military, teachers, police, first responders all welcome

8. First time home buyer benefits available

9. Special circumstance?  Special situations given consideration

10. You can get an FHA loan with subordinate financing and do not have to come up with the normal 3.5% down payment

“What are people saying that have used the program saying?”

Michael V

“When we decided to purchase a house we had no ideal what we were doing.  Our real estate agent and loan officer were very helpful and took the time to tell us what needed to be done credit wise to get approved. Once we were approved  the process started and was actually fun from beginning to end.  A great team makes all of the  difference.  Thank you.


My husband and I were in the middle of trying to secure a mortgage with a lender for at least 3 months when all of sudden the wheels fell off without any notice. We felt our home ownership dreams had been shattered while at the same time leaving a sour taste in our mouth concerning how we were treated by the previous lender. However, after all of this I can proudly say my husband and I are home owners again in no small part due to the team and the Chenoa Loan Program.  The lender and real estate agent worked well together and very professionally and expeditiously closed on our home loan within 3 weeks.  My husband and I are extremely grateful to the team for helping to provide a family home for us. A place we can again enjoy holidays together with our family.   P.S. Looking forward to Thanksgiving with the kids and the grandchildren. Thank you again.

Roberto B

 They gave me everything I wanted and more! Highly Recommend!

Samantha M

I had not owned a home in over 13 years.  I was a bit nervous at taking such a huge step towards home ownership.  I also needed a lot of direction on just where to begin the process.  From the beginning, the real estate agent and lending team made the process easy, comfortable, and never left me feeling confused or left hanging on any questions or concerns I had.  The experience of buying a home was made so much easier because of their expertise, knowledge, and personal touches.
I am happy to recommend them to anyone who is interested in buying a home.

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