Bank of America Offers Zero Down-Payment Mortgages to Black, Latino Borrowers
September 1, 2022
Bank of America announced a new zero down payment, zero closing cost mortgage solution for first-time homebuyers, which will be available in designated markets, including certain African American and Hispanic neighborhoods in Charlotte, Dallas, Detroit, Los Angeles, and Miami.
According to a news release, the Community Affordable Loan Solution aims to help eligible individuals and families obtain an affordable loan to purchase a home.
"The Community Affordable Loan Solution is a Special Purpose Credit Program which uses credit guidelines based on factors such as timely rent, utility bill, p...