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Wednesday, February 24, 2016

Bank of America will offer mortgages for 3% down

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:

lmclain said...

Help a "low income" borrower get into a $400,000 house?
Haven't we seen this movie before?

Anonymous said...

45 year mortgages are also available.

Anonymous said...

Wow. Here we go again! Absolute lunacy.

Steve said...

Put your seat belts on again, we're going for another ride!

Anonymous said...

Here we go again.

Anonymous said...

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.

Anonymous said...

Not to mention I dont want a "low income borrower" living in a 400,000 home next to me. Call me whatever you want.

Anonymous said...

Sounds like 2008 Dejavu.

Anonymous said...

The establishment at its best.

Anonymous said...

Clinton wanted everyone to have a home so he dumbed-down the loan standards and we are still paying the price.