To qualify, applicants must be looking to purchase a house in Charlotte, Dallas, Detroit, Los Angeles and Miami.
Bank of America is launching a mortgage with no down payment or closing costs that aims to promote homeownership in minority communities in five U.S. cities.
"Our Community Affordable Loan Solution will help make the dream of sustained homeownership attainable for more Black and Hispanic families, and it is part of our broader commitment to the communities that we serve," AJ Barkley, Bank of America's head of neighborhood and community lending, said in aBlack and Hispanic families typically don't have a large stash of cash on hand to fund a home down payment and closing costs, so Bank of America removing those barriers will...
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