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Find similar grantsSmall Business Down Payment Grant Program is sponsored by Bank of America. This program helps women and minority business owners with down payments for Small Business Administration (SBA) 504 and 7(a) commercial real estate loans. It is available in select markets and focuses on properties in Opportunity Zones.
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Down Payment Grants and Loan Assistance Programs for First-time Homebuyers Bank of America’s Community Homeownership Commitment ® Good news for aspiring homeowners! Bank of America’s Community Homeownership Commitment ® is bringing together products and resources that can help modest-income borrowers buy homes of their own.
By combining down payment assistance and closing cost help with a low down payment mortgage, you may find that a new home is within reach. Our America’s Home Grant® program offers a lender credit of up to $7,500 that can be used towards non-recurring closing costs, like title insurance and recording fees, or to permanently buy down the interest rate. The funds do not require repayment.
adatext Our Down Payment Grant program offers a grant of up to 3% of the home purchase price, up to $10,000, to be used for a down payment in select markets. Grant Program is not available with all mortgage products. Must be a first-time homebuyer (no homeownership in the past three years).
Contact a lending specialist for more information. The funds do not require repayment. adatext 3% down payment fixed-rate mortgage adatext adatext These products can help make buying a home more affordable.
Mortgage insurance is required. Income limits apply. Visit the Bank of America Down Payment Center to search for programs you may be eligible for, including the America’s Home Grant and Down Payment Grant programs (available in select markets) plus other programs offered by state and local agencies, nonprofits, and employers.
adatext Talk to your lending specialist from your lending specialist: Mon-Fri 8 a. m. -10 p.
m. ET Find another lending specialist Mon-Fri 8 a. m.
-10 p. m. ET Mon-Fri 8 a.
m. -10 p. m.
ET Mon-Fri 8 a. m. -10 p.
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Based on current listing details, eligibility includes: Eligible women and minority business owners (51% ownership) applying for SBA 504 and 7(a) commercial real estate loans. Commercial real estate properties must be based in Opportunity Zones in Atlanta, Chicago, Charlotte, Dallas, and Los Angeles. A 5% minimum down payment from the applicant is required. Applicants should confirm final requirements in the official notice before submission.
Current published award information indicates Up to 50% of required injection, capped at $25,000 Always verify allowable costs, matching requirements, and funding caps directly in the sponsor documentation.
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