If you're looking to buy a home but don't have the 20% down payment sitting around, Bank of America is now offering mortgages with as little as 3% down.
The new loan program is aimed at helping low- and moderate- income borrowers get home loans for up to $417,000.
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10 comments:
Help a "low income" borrower get into a $400,000 house?
Haven't we seen this movie before?
45 year mortgages are also available.
Wow. Here we go again! Absolute lunacy.
Put your seat belts on again, we're going for another ride!
Here we go again.
Just tell all of us how a "low income" borrower can even think about a $400,000 home let alone get one. They need to bring that amount down a whole heck of a lot for a low income person.
Not to mention I dont want a "low income borrower" living in a 400,000 home next to me. Call me whatever you want.
Sounds like 2008 Dejavu.
The establishment at its best.
Clinton wanted everyone to have a home so he dumbed-down the loan standards and we are still paying the price.
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