Chattanooga Neighborhood Enterprise andRockPointBank have officially announced a strategic partnership to launch a new DownPayment Assistance (DPA) program. As part of RockPointBank’s community development and Community Reinvestment Act (CRA) initiatives, this program is designed to help reduce upfront financial barriers and expand access to affordable homeownership for low- to moderate-income buyers across Hamilton County.

Officials said, "The program helps address critical affordability gaps by offering qualifying homebuyers with secondary financing ranging from $10,000 to $50,000 to cover down payments and closing costs."

"Our partnership with CNE was driven by a shared commitment to expanding access toaffordable homeownership in our local community," said Josh Wilson, senior credit officer fromRockPointBank.

"CNE brings deep expertise in working with low- to moderate-income borrowers, along with an established infrastructure for borrower outreach, education and loan servicing. By combining CNE’s community-based approach with RockPointBank’s funding capabilities, we are offering a practical solution to one of the most common barriers to home ownership while maintaining strong credit standards and operational efficiency."

To ensure long-term housing stability and responsible lending, the DPA program features the following criteria:
• Eligible Properties: Single-family primary residences located within HamiltonCounty.
• Loan Terms: Repayable second mortgage amortizing over 30 years at the same interest rate as the first mortgage. No prepayment penalties apply.
• Income Limits: Applicant income must be at or below 80 percent of the Area Median Income (AMI).
• Credit & Debt Limits: Minimum credit score of 660 and a maximum Debt-to-Income(DTI) ratio of 45 percent.
• Borrower Investment: Homebuyers must contribute a minimum of $1,000 of their own funds toward the purchase.
• Education: Buyers are required to complete the eHome America homebuyer education course. 

"All loans under this program will be expertly serviced by CNE, ensuring a seamless, supportive experience for borrowers from application through repayment," officials said.

Prospective homebuyers interested in taking advantage of this program are encouraged to contact Chattanooga Neighborhood Enterprise to review eligibility and begin the application process. For more information, visit cnelending.homes or contact CNE’s loan officer, Vanessa Evers at 423-402-8978.