The deal
Qualified homebuyers may receive a grant equal to 3% of the purchase price, up to $10,000, whichever is less. The funds do not require repayment.
Bank of America’s Down Payment Grant may give qualified homebuyers in select markets 3% of the purchase price, up to $10,000, whichever is less, without repayment; check your state’s availability and connect with a lending specialist.
How to get it
- Select your state to check whether the program is available in your area.
- Connect with a lending specialist about assistance options.
Good to know
You’ll need
- ✓Must meet eligibility requirements, including owner-occupancy and first-time homebuyer requirements
- ✓Must purchase a home in an eligible geographical area
- ✓Home loan must fund with Bank of America
- ✓Homebuyer education is required
Not included
- ✕Not available with all mortgage products
Verified by Stellair
The terms are checked on the brand’s own page.
- Terms checked on the brand’s own pagepromotions.bankofamerica.com/homeloans/downpaymentcenter
- Not yet tested by peopleIt’s checked the way a shopper would the next time it changes.
SV-9968-CB44 Ask your assistant
Here’s a verified offer from Bank of America: Up to $10,000 in down payment help. No end date published.
✓ Stellair Verified · SV-9968-CB44Questions, answered
How much assistance can I receive?
Qualified homebuyers may receive 3% of the purchase price, up to a maximum of $10,000, whichever is less.
Do I have to repay the grant?
No, the grant funds do not require repayment.
Who may qualify?
Qualified borrowers must meet eligibility requirements, including owner-occupancy, first-time homebuyer requirements (no homeownership in the past three years), and purchasing in an eligible geographical area. Maximum income and loan amount limits apply. Homebuyer education is required.
Do I need to get my mortgage from Bank of America?
Yes. The home loan must fund with Bank of America.
Is the grant available with every mortgage product or in every location?
No. It is available in select markets and not with all mortgage products. Select your state on the Down Payment Center to check whether it is available in your area.
How do I get started?
Select your state on the Down Payment Center to check availability, then connect with a lending specialist about assistance options.
Full terms every term, with where it came from
Value
- Benefit
- Qualified homebuyers may receive a grant equal to 3% of the purchase price, up to $10,000, whichever is less. The funds do not require repayment.brand website ↗
- Type of offer
- Special offerbrand website ↗
Dates
- Time zone
- America/New_York
Who qualifies
- Audience
- Everyonebrand website ↗
- Requirements
- Must meet eligibility requirements, including owner-occupancy and first-time homebuyer requirements
- Must purchase a home in an eligible geographical area
- Home loan must fund with Bank of America
- Homebuyer education is required
- Valid regions
- Select marketsbrand website ↗
- Where it applies
- Anywhere in United Statesbrand website ↗
Exclusions
- Not included
- Not available with all mortgage productsbrand website ↗
Redemption
- Steps
- Select your state to check whether the program is available in your area.
- Connect with a lending specialist about assistance options.
Offer specifics
- Ongoing
- No end date