Get $17,500 for FREE Towards Your Dream Home: Bank of America’s Grant Explained

Bank of America’s Grant Explained 🏡

Are you dreaming of owning your first home but feeling overwhelmed by the financial hurdles? Bank of America has your back with their transformative homeownership grants! Let’s dive into the details of these grants and how they can make your homeownership dreams a reality.

The Down Payment Grant: Your Key to Unlocking Homeownership 🗝️

What is it?

The Down Payment Grant program is a game-changer for first-time homebuyers. It offers eligible buyers a generous grant of 3% of a home’s purchase price or up to $10,000, whichever is less, towards their down payment. The best part? This grant comes with no repayment required, giving you a helping hand without adding to your financial burden.

America’s Home Grant Program: Bridging the Gap in Closing Costs 🌉

What is it?

In addition to the Down Payment Grant, Bank of America’s America’s Home Grant program provides a lender credit of up to $7,500 towards non-recurring closing costs. This can cover expenses such as title insurance, recording fees, or even lowering your mortgage interest rate. Just like the Down Payment Grant, this aid doesn’t need to be repaid, offering you peace of mind as you embark on your homeownership journey.

How To Qualify? 🎯

Qualifying for these grants is simpler than you might think! Here’s what you need to know:

  • Secure a loan through Bank of America.
  • Intend to use the property as your primary residence.
  • Meet income limits based on your area, typically falling within the low to moderate income range (around 80% of the median income in your area).
  • Maintain a credit score of over 640.
  • Even if you’re a repeat buyer, you can still qualify for these grants.
  • You don’t need to be an existing client of Bank of America to benefit from these grants.

By meeting these criteria, you can unlock up to $17,500 in aid towards your home purchase, combining both grants for maximum benefit.

With Bank of America’s Homeownership Grants, achieving your dream of homeownership has never been more attainable. Say goodbye to financial barriers and hello to your new home sweet home! 🏡💰

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➡️ Disclaimer
Laura Moreno is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video – it is for entertainment purposes only. This video description may contain affiliate links that allow you to easily find the items mentioned in my videos as well as support the channel at no cost to you.

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