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The matrix also includes program notes addressing lender approval requirements and FHA guideline references, plus conventional alternatives and DPA product types.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/template/","Template",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/template/presentations/","Presentations",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/template/cbc-mortgage-agency-product-matrix-82-january-15-2020/278066/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/cbc-mortgage-agency-product-matrix-82-january-15-2020/278066.png","ImageObject",442,249,{"name":42,"@type":43},"Đào","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-10-28","2026-09-15",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",8,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69],{"name":60,"@type":61,"acceptedAnswer":62},"Which lenders must participate in the program, and what approval is required?","Question",{"text":63,"@type":64},"Lenders must be approved as a correspondent of CBC Mortgage Agency to participate in the program.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"How does DPA structure vary across the listed programs?",{"text":68,"@type":64},"Programs specify different DPA formats, including a 10-year fixed-rate mortgage with an interest rate premium, a 10-year repayable secondary financing at a fixed rate, soft/forgivable secondary financing forgiven after on-time payments, and repayable seconds with two loan options and regular monthly payments.",{"name":70,"@type":61,"acceptedAnswer":71},"What determines borrower underwriting limits such as income/AMI and DTI?",{"text":72,"@type":64},"Income limits and AMI calculation rules differ by program—for example, some rely on FNMA/HUD AMI charts or loan-qualifying income only. DTI guidance also varies, including AUS-based DTI for some tiers and specific maximum DTI percentages or alternative qualification options for higher DTI or payment shock scenarios.","https://schema.org",{"og:url":32,"og:type":75,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":77,"canonical":32},"index,follow",{"doc_id":79,"site_id":7},278066,1791219292,{"code":4,"msg":82,"data":83},"success",[84,88,93,98,103,108,113,118,123],{"id":85,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":86,"slug":87},11,90,"presentations",{"id":89,"doc_module":22,"doc_module_name":25,"category_name":90,"show_sort_weight":91,"slug":92},12,"Resumes",80,"resumes",{"id":94,"doc_module":22,"doc_module_name":25,"category_name":95,"show_sort_weight":96,"slug":97},14,"Invoices",70,"invoices",{"id":99,"doc_module":22,"doc_module_name":25,"category_name":100,"show_sort_weight":101,"slug":102},15,"Posters",60,"posters",{"id":104,"doc_module":22,"doc_module_name":25,"category_name":105,"show_sort_weight":106,"slug":107},16,"Social Media",50,"social-media",{"id":109,"doc_module":22,"doc_module_name":25,"category_name":110,"show_sort_weight":111,"slug":112},17,"Forms",40,"forms",{"id":114,"doc_module":22,"doc_module_name":25,"category_name":115,"show_sort_weight":116,"slug":117},18,"Letters",30,"letters",{"id":119,"doc_module":22,"doc_module_name":25,"category_name":120,"show_sort_weight":121,"slug":122},21,"Paper Templates",5,"papers-templates",{"id":124,"doc_module":22,"doc_module_name":25,"category_name":125,"show_sort_weight":4,"slug":126},158,"General","general-158",{"code":4,"msg":82,"data":128},{"doc_id":79,"user_id":129,"nickname":42,"user_avatar":130,"doc_module":22,"category_id":85,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":55,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":136,"language":137,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":138,"faqs":139,"seo_title":140,"seo_description":12,"update_tm":141,"read_time":26},1374402968488,"https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0","| Reminder: Lenders who wish to participate in this Program must be approved as a correspondent of CBC Mortgage Agency. |  |  |  |  |  |\n| --- | --- | --- | --- | --- | --- |\n| CBC Mortgage Agency Product Matrix |  |  |  |  |  |\n|  | Chenoa Fund |  |  |  |  |\n|  | Conventional |  | FHA |  |  |\n|  | HomeReady® | Conventional Standard 97® | Rate Advantage | DPA Edge: Soft Second | DPA Edge: Repayable Second |\n| Program Notes | Neither CBCMA nor Chenoa Fund and any of its products are approved by or affiliated with Fannie Mae®. Originating lenders are responsible for ensuring that their use of CBCMA second mortgages and conventional first mortgages is compliant with Fannie Mae's® HomeReady® requirements. All other posted program notes or guidelines are overlays of Chenoa Fund, CBCMA. | Neither CBCMA nor Chenoa Fund and any of its products are approved by or affiliated with Fannie Mae®. Originating lenders are responsible for ensuring that their use of CBCMA second mortgages and conventional first mortgages is compliant with Fannie Mae®'s requirements. All other posted program notes or guidelines are overlays of Chenoa Fund, CBCMA. | Unless otherwise specified here as an overlay, CBC Mortgage Agency adheres to all posted guidelines for FHA eligibility as found in the FHA Housing Handbook, 4000.1. |  |  |\n| Amount of DPA\u003Cbr>provided | 3.5% of the purchase price of the home. |  |  |  |  |\n| Description of DPA\u003Cbr>Product Type | Down payment assistance in the form of a 10-year fixed rate mortgage with an interest rate 2% higher than the first mortgage. Please refer to the daily rate sheet for interest rates on FNMA first mortgages. Chenoa Fund program overlays are not affiliated with Fannie Mae. |  | Down payment assistance in the form of 10-year repayable secondary financing at an 8% fixed rate only. | Down payment assistance in the form of soft/forgivable secondary financing. Second lien is a 30-year term, 0% interest, and no payments due, and will be forgiven after 36 regular on-time payments of the underlying first mortgage. | Down payment assistance in the form of repayable secondary financing. Loan option 1 is a 10-year term, 0% interest rate. Loan option 2 is a 30-year term, 5% interest rate. Both loans require regular monthly payments. |\n| Borrower Income\u003Cbr>Limits | Per FNMA guidelines. | No income limits. | Fully amortized second mortgages with a term of 10 years for borrowers with qualifying income less than or equal to 115% of area median income. | Soft/forgivable secondary financing available to borrower with qualifying income less than or equal to 115% of area median income. | Fully amortized second mortgages with a term of 10 or 30 years. No income limits! |\n| AMI Calculation | Not required. |  | Based on loan qualifying income only (only use income on final loan application) . Use HUD AMI chart.\u003Cbr>[https://www.huduser.gov/portal/datasets/il.html](https://www.huduser.gov/portal/datasets/il.html) |  |  |\n| Occupancy and\u003Cbr>Property Type | All borrowers must occupy the property as their primary residence. SFR, eligible condos, and PUDs. No manufactured homes. No Co-Ops. |  | All borrowers must occupy the property as their primary residence. All other FHA guidelines apply. | One of the borrowers must occupy the property as their primary residence. All other FHA guidelines apply. |  |\n| 1st Time Home Buyer | Not required. | Required. | Not required. |  |  |\n| Product | 30-year Fixed Rate Mortgage. First mortgage must be purchased by CBCMA. |  | 30 Year Fixed Rate term with full amortization only: 1. FHA 203 (b) 2. FHA 234 (c) First Mortgage must be purchased by CBCMA. |  |  |\n| Credit Score\u003Cbr>Comment | All borrowers must have at least one credit score. Soft pull credit report required within 10 days of Note date. |  |  |  |  |\n| Minimum Credit Score | 640 |  |  | 620 |  |\n\n\n|  | Conventional |  | FHA |  |  |\n| --- | --- | --- | --- | --- | --- |\n|  | HomeReady®* | Conventional Standard 97®* | Rate Advantage | DPA Edge: So","cbCaibJHRvt2xBv1","https://ap.wps.com/l/cbCaibJHRvt2xBv1","pdf",115322,6,"English","# Product Matrix Programs\n## Program Notes and Lender Requirements\n## Down Payment Assistance (DPA) Details\n## Borrower Income, AMI Calculation, Occupancy\n## Credit Score and DTI Requirements\n## Minimum Credit Score and Product Definitions","[{\"question\":\"Which lenders must participate in the program, and what approval is required?\",\"answer\":\"Lenders must be approved as a correspondent of CBC Mortgage Agency to participate in the program.\"},{\"question\":\"How does DPA structure vary across the listed programs?\",\"answer\":\"Programs specify different DPA formats, including a 10-year fixed-rate mortgage with an interest rate premium, a 10-year repayable secondary financing at a fixed rate, soft/forgivable secondary financing forgiven after on-time payments, and repayable seconds with two loan options and regular monthly payments.\"},{\"question\":\"What determines borrower underwriting limits such as income/AMI and DTI?\",\"answer\":\"Income limits and AMI calculation rules differ by program—for example, some rely on FNMA/HUD AMI charts or loan-qualifying income only. DTI guidance also varies, including AUS-based DTI for some tiers and specific maximum DTI percentages or alternative qualification options for higher DTI or payment shock scenarios.\"}]","CBC Mortgage Agency Product Matrix - 8.2 - January 15, 2020 | PDF",1789506687]