Bank of America Down Payment Grant Programs is giving back 15 Billion Dollars!


Bank of America Down Payment Grant Programs are offering 15 billion dollars to help home buyers start building wealth and equity sooner than ever. Many potential homeowners never make the commitment to buy a house because they think they need a huge down payment, when that couldn’t be further from the truth! With so many different types of down payment assistance programs including the Bank of America Down Payment Grant, your dream of owning a home could not be more attainable than it is today. But stick around to the end for a freebie that will help you get to your homeownership goals quicker.


What is the Bank of America Down Payment Program?


Many potential homeowners never make the commitment to buy a house because they think they need a huge down payment, when that couldn’t be further from the truth! With so many different types of down payment assistance programs including the Bank of America Down Payment Grant, your dream of owning a home could not be more attainable than it is today. But stick around to the end for a freebie that will help you get to your homeownership goals quicker.


Hey it’s Iris with RE/MAX Integrity helping you build wealth through homeownership in Colorado Springs and I’ve always been a researcher and learned to make moves at a young age to get the best deals and the most value for my money. If you find yourself asking if there’s a coupon for this, or you like using Airbnb and Uber because it’s wiser for your wallet, then you’re probably a lot like me! I’m pretty resourceful where I can be. That’s why when I heard about the Bank of America Home Grant Program, I had to share it asap! If you’ve watched some of my other videos, you know that there are so many programs out there, but this one seems too good to be true!


Bank of America has a few things going on to help homebuyers achieve their dreams and start building equity through their live-in investment. They have another program that’s great for those with bad credit or no credit, but more on that in another video. Today we’re talking about Bank of America’s Community Homeownership Commitment® to help modest-income borrowers buy their very own homes. Bank of America Down Payment Assistance Program offers up to $17,500 to help you buy your home and no, you don’t have to be a first time home buyer.

You can basically use down payment assistance and closing cost help with a low down payment mortgage to get that home of your dreams. Imagine yourself hosting your next holiday or sports game in your own house with no landlord telling you what you can and can’t do!


How Bank of America Down Payment Grants Work


The 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.


Yes, you heard that right. Up to $7,500 towards closing costs! What will you do with all that extra money? Let me know in the comments! Most people don’t realize that they still need closing costs when they buy a house. Just because you don’t have a downpayment, doesn’t mean you just get to ride this one out with no skin in the game. You do need to have the earnest money payment which is usually due within 3 days of a signed offer and is about 1% of the purchase price. So you do need to have some savings and a good financial plan going.


The Down Payment Grant program offers a grant equaling 3% of the home purchase price, up to $10,000, to be used for a down payment in select markets. Grant Program is currently limited to two specific mortgage products. Contact a lending specialist for more information. The funds do not require repayment.


Bank of America Down Payment Grants Program Requirements


You need to be occupying the property. No income property investments. You will be purchasing a home within a certain geographical area. There are maximum income and loan amounts. There is a minimum credit score requirement. If this seems like something you’d be interested in, check the links in the description and get with a lender at Bank of America today. I’ll post all the information below. And as promised feel free to find my link for your budgeting worksheet.


Bank of America offers FREE Down Payment Assistance Programs and Home Grant Assistance, but you’ll need to hurry as it’s limited funding. Many first time home buyers or potential homeowners never make the commitment to buy a house because they think they need a huge down payment, when that couldn’t be further from the truth! With so many different types of down payment assistance programs including the Bank of America Down Payment Grant, your dream of owning a home could not be more attainable than it is today.


Now that you’ve learned about the Bank of America Down Payment Assistance Grants and Programs, watch this video next to make sure you don’t make these common home buyer mistakes so that you don’t lose your loan.


https://www.bankofamerica.com/mortgage/affordable-housing-programs/

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