The deal
Qualified homebuyers may receive a lender credit of up to $7,500 for eligible nonrecurring closing costs through the America's Home Grant® program. The funds do not require repayment.
Bank of America says qualified homebuyers in select markets may receive a lender credit of up to $7,500 through the America's Home Grant® program for eligible nonrecurring closing costs, with no repayment required; select your state to check 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 qualifying income limits
- ✓Must purchase a home in an eligible geographical area
- ✓Home loan must fund with Bank of America
Not included
- ✕Real estate commissions and miscellaneous real estate agent fees
- ✕Down payment, prepaid items, and recurring costs such as property taxes and insurance
- ✕Not available with all loan 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.
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Here’s a verified offer from Bank of America: $7,500 off. No end date published.
✓ Stellair Verified · SV-65E6-3951Questions, answered
How much closing cost help can I receive?
Qualified homebuyers may receive a lender credit of up to $7,500.
What can the lender credit be used for?
It can be used for nonrecurring closing costs, including title insurance, recording fees and, in certain situations, discount points. It cannot be used for a down payment, prepaid items, real estate commissions or miscellaneous real estate agent fees, or recurring costs such as property taxes and insurance. Borrowers cannot receive program funds as cash back.
Who may qualify?
Qualified borrowers must meet eligibility requirements, including owner-occupancy, qualifying income limits and purchasing a home in an eligible geographical area. Maximum income and loan amount limits apply, and minimum combined loan-to-value must be at least 80%.
Does the home loan need to be with Bank of America?
Yes. The home loan must fund with Bank of America.
Is the program available everywhere or with every loan product?
No. It is available in select markets and is not available with all loan products. Select your state on the Down Payment Center to check availability in your area.
How do I check availability and ask about assistance?
Select your state on the Down Payment Center to search for programs, 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 lender credit of up to $7,500 for eligible nonrecurring closing costs through the America's Home Grant® program. The funds do not require repayment.brand website ↗
- Type of offer
- Amount offbrand website ↗
- Amount
- $7,500brand website ↗
Dates
- Time zone
- America/New_York
Who qualifies
- Audience
- Everyonebrand website ↗
- Requirements
- Must meet eligibility requirements, including owner-occupancy and qualifying income limits
- Must purchase a home in an eligible geographical area
- Home loan must fund with Bank of America
- Valid regions
- Select marketsbrand website ↗
- Where it applies
- Anywhere in United Statesbrand website ↗
Exclusions
- Not included
- Real estate commissions and miscellaneous real estate agent fees
- Down payment, prepaid items, and recurring costs such as property taxes and insurance
- Not available with all loan products
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