This MIGHT Be A GAME CHANGER: BOA Offering Coli Brehs Mortgages With ZERO DOWN!!!

[concise]

Dont trust BofA. They steered me into a credit card instead of a used car loan for really low percent. But the cards wouldn’t allow you to make online payments you had to call or mail in a payment.

My first payment was a day late they jacked up the interest rate from like 1% to 30%

I walked into that branch like I was going ti kill somebody and they lowered it back

I'd expect the catch in the home loans will be even worse than this.

 

[AAKing23]

fukk Bank of America

 

[Mr swag]

Navy Fed offered me a 0 down mortgage with a 3.75% rate.

I went with someone else and out more down instead and my rate is 2.75.

In what year

 

[$cam-U-Well_Jack$on]

What's the catch?

It's BoA so there HAS to be one.

 

[Sad Bunny]

In what year

2020

 

[Astroslik]

25-33% down is ideal

 

[Mr swag]

2020

This isn’t 2020 anymore. You are lucky to get 6% with a 800 credit score right now

 

[Sad Bunny]

Su

This isn’t 2020 anymore. You are lucky to get 6% with a 800 credit score right now

Sucks for y’all

 

[Wink Beaufield]

What's the catch?

Higher interest rates offset not having to pay PMI.

 

[Topps]

You can only stay in your neighborhoods.

 

[Topps]

Selected neighborhoods means the houses probably have to be in the hood.

 

[⠀X ⠀]

The program’s creator.

But where are her people from? That don’t look like an FBA forehead

 

[OneManGang]

Y’all really putting 20% down on houses in this market?

 

[Orange cream shake]

surprised at no PMI. If they don’t sneak any other fees in there, and rates are relatively reasonable, could be a good initiative

It’s probably baked into the rate like most local first time buyer 0 down programs. The only zero down payment loans I know with no pmi and low rates are va and NACA.

 

[Orange cream shake]

New aged redlining.

That’s what I’m wondering, since it’s only in some markets, so they dictate where you live? My friend did dpa and she could only move to certain cities which happen to have the worst school districts.