Good news for aspiring homeowners! Bank of America’s Community Homeownership Commitment® is bringing together products and resources that can help modest-income borrowers buy homes of their own. By combining down payment assistance and closing cost help with a low down payment mortgage, you may find that a new home is within reach.
Home grant programs
Our America’s Home Grant® program offers a lender credit of up to $7,500 that can be used towards non-recurring closing costs, like title insurance and recording fees, or to permanently buy down the interest rate. The funds do not require repayment. adatext
Our Down Payment Grant program offers a grant of up to 3% of the home purchase price, up to $10,000, to be used for a down payment in select markets. Grant Program is not available with all mortgage products. Must be a first-time homebuyer (no homeownership in the past three years). Contact a lending specialist for more information. The funds do not require repayment. adatext
3% down payment fixed-rate mortgage adatext adatext
These products can help make buying a home more affordable. Mortgage insurance is required. Income limits apply.
More homebuying help
Visit the Bank of America Down Payment Center to search for programs you may be eligible for, including the America’s Home Grant and Down Payment Grant programs (available in select markets) plus other programs offered by state and local agencies, nonprofits, and employers. adatext
