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