Zero Down Payment, Zero Closing Cost Mortgages Advance Efforts To Broaden Access To Homeownership

Zero Down Payment, Zero Closing Cost Mortgages Advance Efforts To Broaden Access To Homeownership

ByTMN Editor Reading Time: 4 minutes

By CHUCK GREEN Bank of America is launching the Community Affordable Loan Solution, a zero-down payment, zero-closing cost mortgage designed to expand sustainable homeownership opportunities in Black and Hispanic communities. The Community Affordable Loan Solution is a Special Purpose Credit Program that uses credit guidelines based on factors such rent payments, utility bills, phone, and auto insurance…

BOA Introduces No Down Payment, Closing Cost Mortgage Solution For First-Timers

BOA Introduces No Down Payment, Closing Cost Mortgage Solution For First-Timers

ByTMN Editor Reading Time: 2 minutes

Bank of America is introducing a zero down payment, zero closing cost mortgage solution for first-time buyers geared towards underserved communities. The Community Affordable Loan Solution will roll out in designated markets, including certain Black and Hispanic/Latino neighborhoods in Charlotte, Dallas, Detroit, LA, and Miami. It is a Special Purpose Credit Program that operates off…

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