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Forum ยป BOA offering zero down payment for first time homebuyers
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Thread: BOA offering zero down payment for first time homebuyers

post 1667158723 09-01-2022, 06:42 PM
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  1. pakmansc300
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BOA offering zero down payment for first time homebuyers

https://www.nbcnews.com/business/con...ails-rcna45662
Bank of America said it is now offering first-time homebuyers in a select group of cities zero down payment, zero closing cost mortgages to help grow homeownership among Black and Hispanic/Latino communities.
So 0 down, 0 closing costs, no PMI, no minimum credit score... wow
Too Big, Too Strong, Too Fast, Too Good!
post 1667159163 09-01-2022, 06:54 PM
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  1. Johnez
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Only in a few cities. Really interesting though, thanks for sharing Opie.
Virtue is its own reward.
post 1667159253 09-01-2022, 06:55 PM
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  1. DrumsNotDead
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is it only for black and latinos?
post 1667159443 09-01-2022, 06:59 PM
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  1. pakmansc300
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Originally Posted By DrumsNotDead⏩
is it only for black and latinos?
Applicants do not have to be Black or Hispanic to qualify for the product, a bank representative said.
I'm guessing the city will have to be majority latino or black
Too Big, Too Strong, Too Fast, Too Good!
post 1667159523 09-01-2022, 07:01 PM
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Originally Posted By DrumsNotDead⏩
is it only for black and latinos?
Nope. It's meant to address black/Hispanic homeownership, but isn't limited to balcks or Hispanics.
Virtue is its own reward.
post 1667159543 09-01-2022, 07:02 PM
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Originally Posted By pakmansc300⏩
I'm guessing the city will have to be majority latino or black
Fook, that's a good point. I guess Bumfuk, Nebraska is off the table then lol.
Virtue is its own reward.
post 1667159583 09-01-2022, 07:03 PM
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So all they need is an appraisal that puts it at 120% of market value. Good luck with that these days lol.
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post 1667164293 09-01-2022, 08:34 PM
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This will not end well.
post 1667164553 09-01-2022, 08:38 PM
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Discrimination good
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