I had no idea there were up-front costs associated with this loan, I can't find mention of it anywhere. Thank you for the information, I hope to house-hack in Boston next year. I knew it seemed too good to be true!
@@AlanfinityLive No problem, when taken along with the higher rate you will be much better off if you can do vanilla FHA or 5% down conventional. I don't know if there are good zero down programs like WA Bond near you.
Thank you, this program does have a purpose but its so expensive, the question needs to be raise whom is this good for really. There is a genuinely good zero down program for Washington State.
@@getrichslowwithjohnwolf5762 I'm in Georgia, and I'm being told you don't actually have to pay anything if you make on time payments for I believe 3 or 5 years (can't remember).... isn't that why it's a good deal? After that time the loan is forgiven and you don't have to pay anything at all.
@@essenceofsoul27 Depending on the sub program you are using the second can be forgiven after 36 consecutive on time payment. Not sure if I could characterize it as a "good deal" maybe fair because at that point you will have paid 2-3 times the down payment amount in fees and interest.
@@getrichslowwithjohnwolf5762 Thanks! I'm just getting a bit discouraged with buying a home in this market. I am going through the NACA process but it seems as though I'm in for a world of more frustrations so I'd hoped to find other options. I just want to stop paying rent and finally be in my own place.
That’s you I been so happy about this program especially at the losing my business I’ve been you know saving idea to rent to buy a home in 1999 and at that time it was in Florida and houses were pretty cheap it was a four year old house the whole house was 107,000 I actually put $20,000 down on it my so-called mortgage as they call it I’m doing this for quotes was $970 a month and when my gear was over they broke up the price is 22 and I’m sorry $120 more and I was like that’s enough I had already put it Italian marble I put in at least $40,000 that house rightI had more equity in the house then in the house started with I put more value into the house and I clean the house and left it don’t know what I was thinking well I know what I was thinking the next-door neighbor I had police always at the house besides that
Great information!!!! As I was watching a video about chenoa thought this is horrible. Buyers please don’t sign up for this down payment assistance program
I don't really know what you mean, I just finished a Chenoa loan and it worked more or less as I described it. I could certainly update and improve this video but its a fair representation.
4.75% upfront cost, does that make sense for anybody?
I had no idea there were up-front costs associated with this loan, I can't find mention of it anywhere. Thank you for the information, I hope to house-hack in Boston next year. I knew it seemed too good to be true!
@@AlanfinityLive No problem, when taken along with the higher rate you will be much better off if you can do vanilla FHA or 5% down conventional. I don't know if there are good zero down programs like WA Bond near you.
Thanks for explaining!
@@relikvija No worries, please like and subscribe I have a lot of new content coming.
@@relikvija No worries, curtain lenders push this program very hard, and they really should not. In almost every case there is a better way.
Thank You for this information it was extremely helpful and easy to digest! I couldnt find anything online or any reviews about this program!
Thank you, this program does have a purpose but its so expensive, the question needs to be raise whom is this good for really. There is a genuinely good zero down program for Washington State.
Damn you are pretty and you know anyone that used this Chenoa Fund ?
@@getrichslowwithjohnwolf5762 I'm in Georgia, and I'm being told you don't actually have to pay anything if you make on time payments for I believe 3 or 5 years (can't remember).... isn't that why it's a good deal? After that time the loan is forgiven and you don't have to pay anything at all.
@@essenceofsoul27 Depending on the sub program you are using the second can be forgiven after 36 consecutive on time payment. Not sure if I could characterize it as a "good deal" maybe fair because at that point you will have paid 2-3 times the down payment amount in fees and interest.
@@getrichslowwithjohnwolf5762 Thanks! I'm just getting a bit discouraged with buying a home in this market. I am going through the NACA process but it seems as though I'm in for a world of more frustrations so I'd hoped to find other options. I just want to stop paying rent and finally be in my own place.
Thanks for this information!!
Thank you
That’s you I been so happy about this program especially at the losing my business I’ve been you know saving idea to rent to buy a home in 1999 and at that time it was in Florida and houses were pretty cheap it was a four year old house the whole house was 107,000 I actually put $20,000 down on it my so-called mortgage as they call it I’m doing this for quotes was $970 a month and when my gear was over they broke up the price is 22 and I’m sorry $120 more and I was like that’s enough I had already put it Italian marble I put in at least $40,000 that house rightI had more equity in the house then in the house started with I put more value into the house and I clean the house and left it don’t know what I was thinking well I know what I was thinking the next-door neighbor I had police always at the house besides that
Great information!!!! As I was watching a video about chenoa thought this is horrible. Buyers please don’t sign up for this down payment assistance program
Glad I could help
Does it cover closing costs?
The ~4.75% offloan amount upfront costs includes closing costs but not prepaids
You have to learn the program first before you misinformed the buyers
I don't really know what you mean, I just finished a Chenoa loan and it worked more or less as I described it. I could certainly update and improve this video but its a fair representation.
Isn't it Diffrent now? 2023 can u do an update now with 5k in closing cost on 300k home