Bank of America No Down Payment Mortgage

Bank of America is going to remove the unfairness between Black and white ownership of their home.

[{"selector":"#anim-8680620e-549f-4c20-b06a-23332ce4d4f2","keyframes":{"transform":["translate3d(-54.16667%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bf7c1d6b-ee58-46f2-90d8-e03dd04a0c64","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cf40e53e-9f5b-4f25-ba67-a3621ead77aa","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

BoA is launching a program of no-down payment mortgages which is aimed to help first-time buyers in Black and Hispanic neighborhoods.

[{"selector":"#anim-709390c4-8a1f-434d-9c53-029b00c266ef","keyframes":{"transform":["translate3d(-54.16667%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-87451394-8b3d-47ef-8b54-6dc623a83905","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a340ba21-bbe8-46e5-ab19-5a9eadb81d23","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

The eligibility will be determined by the income, home location, and payment history for bills such as rent, phone, utilities, and auto insurance.

[{"selector":"#anim-5042cd78-2841-4a11-af16-9982e5baf6b7","keyframes":{"transform":["translate3d(-54.16667%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b5ac16c7-8a95-4ea5-9846-f0ecc0bb1fa3","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e9d77127-69e2-4989-8935-96002057442c","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

The program will be applied in Charlotte, Dallas, Detroit, Los Angeles, and Miami, along with the neighborhood of Black or Latino residents.

[{"selector":"#anim-5dfb6706-0a99-4bc3-8626-e27f154d6835","keyframes":{"transform":["translate3d(-54.16667%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0e1acaae-483c-47af-957e-9bef309f6531","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-36ae777e-26e5-4d95-ac7b-08ed77c59957","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

"Homeownership strengthens our communities and can help individuals and families to build wealth over time," AJ Barkley said.

[{"selector":"#anim-0c147f48-bf30-4f3c-8216-3072d53e5dd2","keyframes":{"transform":["translate3d(-54.16667%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a83ee5ad-6782-40e8-a6b6-6e4880e143f8","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4e757a1f-1465-4a0c-84e4-22649c1f0af3","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Black or Hispanic neighborhoods were struggling in the housing market because of discrimination and were rejected for mortgage loans.

[{"selector":"#anim-4cce7300-3f08-4409-a2dd-3af6a8fedc7f","keyframes":{"transform":["translate3d(-54.16667%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8591a38e-0446-48ef-a0da-5210b848e1fc","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f02696bf-23ca-4aa1-a9ac-eda3aee1300d","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

No-down payment or minimum credit score will also help low-income white borrowers along with Black and Latino.

[{"selector":"#anim-85bf7b1a-ae54-4df8-a07f-64631d50aaaa","keyframes":{"transform":["translate3d(-54.16667%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8d4561ea-50d7-421e-beff-9702b98e6b3a","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2213f1a2-4e33-4ef7-879b-1b610452754e","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

"It will help many Black and Latino borrowers and I think it will also help many lower-income white borrowers," CEO Jesse Van Tol said.

[{"selector":"#anim-3132ba70-c41e-42dd-a5f4-acaab7796513","keyframes":{"transform":["translate3d(-54.16667%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-87be5283-ce1a-4d86-93ef-c29fd595a655","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-65089c7a-e6bd-41bb-9a5f-ad5cc66d03f1","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

"It's not that we just get folks into the home, but that we're also able to help them have the savings," Samira Payne told NPR.

[{"selector":"#anim-b4a7a728-56c1-40ec-b3a5-9e79e8b7e932","keyframes":{"transform":["translate3d(-54.16667%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e48a97d6-d509-4719-8a8a-caf80518d990","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-80d55688-5d6e-4c1c-a64a-e42d13a2d535","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]