Bank of America is helping Black and Latinx communities grow their home ownership rates. The bank is offering Black and Hispanic/Lantinx first-time homebuyers in a select group of cities no down payment or closing costs. The new mortgage plan, Community Affordable Loan Solution, is first available in select neighborhoods across Charlotte, Dallas, Detroit, Los Angeles, and Miami. Bank of America says that applicants do not have to be Black or Latinx to qualify, meaning all members of the BIPOC community will have the chance to obtain an affordable loan to purchase their first home. YPulse’s Finance / Spending Monitor data shows that saving to buy a house is one of BIPOC young consumers’ top priorities. (NBC)
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