CBC Mortgage Agency Celebrates 50,000 Families Assisted

Author: Henry Turner Updated: 02-10-2025 06:11 AM

CBC Mortgage Agency Celebrates a Major Milestone

CBC Mortgage Agency (CBCMA) has recently achieved a significant milestone by helping 50,000 families attain homeownership through its down payment assistance program. This initiative has primarily benefited first-time homebuyers, particularly those from minority and low-income communities, showcasing CBCMA's commitment to making homeownership accessible to all.

The Impact of the Chenoa Fund

Through the Chenoa Fund, CBCMA offers a unique blend of repayable and forgivable second mortgages, lowering the financial barriers for families trying to purchase homes. This program has been active since 2013, supported by funding from Cedar Band Corp., its parent organization, which is a federally chartered tribal corporation established by the Cedar Band of Paiute Indians.

Empowering Low-Income Families

Gary Acosta, Co-Founder and CEO of the National Association of Hispanic Real Estate Professionals, highlights the importance of CBCMA's DPA program, especially for Hispanic families who constitute about 20% of the US population. Acosta emphasizes the program's potential to build generational wealth for young families eager to invest in their futures through homeownership.

Bridging the Homeownership Gap

CBCMA's assistance reaches families in 49 states, effectively bridging the gap for those who might find homeownership unattainable without help. This initiative goes beyond financial assistance, as CBCMA also provides essential financial literacy and counseling services, equipping new homeowners with the tools they need to sustain their investment.

Addressing Challenges in the Housing Market

With the current housing market marked by escalating costs and high interest rates, CBCMA recognizes the ongoing challenges faced by potential homebuyers. President Miki Adams expressed pride in the agency’s work, emphasizing that the 50,000 families represented are not mere numbers but real stories of triumph that contribute to stronger communities and brighter futures.

Looking Forward

As CBCMA prepares to expand its program offerings, the organization aims to provide even more assistance to middle-income earners struggling with rising real estate costs. This expansion represents a crucial step towards enhancing access to homeownership for a larger segment of the population.

About CBC Mortgage Agency

Established in 2013, CBC Mortgage Agency is a national leader in housing finance. It plays a vital role in offering down payment assistance, focusing primarily on low-to-moderate income consumers in minority neighborhoods. Recognized as one of the top companies in the mortgage industry, CBCMA is dedicated to helping families realize their homeownership goals.

Frequently Asked Questions

What is the mission of CBC Mortgage Agency?

CBC Mortgage Agency aims to provide down payment assistance to help low-to-moderate income families achieve homeownership.

How does the Chenoa Fund assist families?

The Chenoa Fund offers both repayable and forgivable second mortgages, reducing the initial financial burden of buying a home for eligible families.

Who are the primary beneficiaries of the DPA program?

The program primarily assists first-time homebuyers, with a significant focus on minority and low-income households.

How long has CBCMA been in operation?

CBC Mortgage Agency was established in 2013 and has significantly impacted homeownership opportunities since then.

What future plans does CBCMA have?

CBCMA plans to expand its offerings to support a wider range of families, particularly middle-income earners facing challenges in the housing market.

About The Author

Hi there, As a writer and financial specialist, Henry Turner is passionate about guiding people through the complex world of finance. Having worked in finance for many years, I am an expert at simplifying difficult financial ideas into understandable, useful insights for my blog and articles. My goal is to arm you with the confidence and information you need to make wise financial choices.

Writing for a number of financial blogs has allowed me to interact with readers from novice investors looking for fresh ideas to seasoned investors starting their financial journeys. My mission is to enable everyone to understand and access finance, so enabling you to confidently and clearly reach your financial goals. I appreciate you traveling with me toward success and financial literacy.

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