Bank of America has announced a new effort aimed at bolstering
homeownership opportunities in Black and Latino communities, with plans
to offer zero down payment and zero closing cost mortgage options in certain neighborhoods
The bank said the new options, announced this week, will be offered in Black and Latino
neighborhoods in Charlotte, Dallas, Detroit, Los Angeles and Miami, as well other markets.
In a statement accompanying the bank’s recent announcement, AJ Barkley, head of neighborhood
and community lending for the bank, discussed how homeownership,
which advocates have described as a critical tool used to build wealth in America, can strengthen communities.
Our Community Affordable Loan Solution will help make the dream of sustained
homeownership attainable for more Black and Hispanic families,
and it is part of our broader commitment to the communities that we serve,” Barkley said.
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