09/05/2022
https://www.zerodownliving.com/
No-Down-Payment mortgages from Bank of America. If you are interested click on the link. Remember to share! Below is a summary of the program
• No money down payment or closing cost required (excluding discount points and prepaid items)
• Down payment funds provided and select areas: Los Angeles, Miami: $15,000
Charlotte, Dallas, Detroit: $10,000
• Limited to certain markets that are 50% Black and Hispanic (we have a map to identify which addresses qualifies)
• First time Homebuyer or no ownership interest in 3 years
• No MI
• Annual Income Limit for LA County $120,476, Miami: $90,999, Detroit: $120,729 Dallas: $132,473 Charlotte: $120,729
• No Min Fico
• Buyer must complete Homebuyer Education prior to application
• High LTV up to 100%/106% CLTV
• SFR, Condo, PUD and Co-op
• 2-4 Units 95% LTV (Client will need to cover the difference from the funds provided)
• No reserve requirement (with verified 12 month Housing payment history) 2 months for 2-4 units
• Max DTI 50 %
