CBC Mortgage Helps 50,000 Families Achieve Homeownership

ByTMN Editor Reading Time: 2 minutes

CBC Mortgage Agency reached a landmark in homebuyer assistance, helping 50,000 families achieve homeownership with down payment assistance.

The agency’s Chenoa Fund provides down payment assistance to first-time homebuyers, minority families, and low-income households, many of whom are first-generation homeowners.

The Chenoa Fund provides repayable and forgivable second mortgages to help families struggling to save for a down payment.

“In today’s housing market, where rising costs and high interest rates have placed homeownership out of reach for too many, we’re incredibly proud to have helped 50,000 families break through those barriers,” said CBCMA President Miki Adams. 

“But 50,000 is more than just a milestone — it represents real families, stronger communities, and brighter futures. And we’re just getting started. We’re now setting our sights on expanding our program offerings even further to ensure that middle-income earners and a generation struggling not just with down payments but also with a lack of available housing have a real path to homeownership.”

High rent prices and costs of living make saving for a down payment difficult for many families. Though 20% upfront is a suggestion, not a requirement, even 5% is a hefty amount when the median national home price is more than $400,000.

Saving up is tough for anyone, but especially first-generation and minority buyers who have historically been excluded from homeownership, missing out on generational wealth building. Minority buyers are projected to become bigger players in the housing market as U.S. demographics shift in the coming years.

“CBC Mortgage Agency’s down payment assistance program has transformed homeownership opportunities, particularly for Hispanic families, who represent nearly 20% of the U.S. population today and are expected to reach more than 25% in the coming decades,” said Gary Acosta, Co-Founder & CEO of the National Association of Hispanic Real Estate Professionals.

CBC Mortgage Agency is a Native American housing finance agency and a leading source of down payment assistance for low-to-moderate-income borrowers.

The Chenoa Fund operates in 49 states and territories. Roughly 75% of the homebuyers who receive down-payment assistance from CBC Mortgage are first-time homebuyers, and about half are minorities.