Bank of America has introduced a new type of home loan that underscores its pullback from making similar mortgages insured by a government agency that has won large settlements from big banks. The loan, announced this week, allows low and moderate income borrowers to make down payments of as little as 3 percent, less than the 3.5 percent minimum required for loans insured by the Federal Housing Administration.
Bank of America has introduced a new type of home loan that underscores its pullback from making similar mortgages insured by a government agency that has won large settlements from big banks. The loan, announced this week, allows low and moderate income borrowers to make down payments of as little as 3 percent, less than the 3.5 percent minimum required for loans insured by the Federal Housing Administration. John Taggart Bloomberg
Bank of America has introduced a new type of home loan that underscores its pullback from making similar mortgages insured by a government agency that has won large settlements from big banks. The loan, announced this week, allows low and moderate income borrowers to make down payments of as little as 3 percent, less than the 3.5 percent minimum required for loans insured by the Federal Housing Administration. John Taggart Bloomberg
Bank Watch

Bank Watch

News and notes on Charlotte's banks and the financial industry

BofA’s new mortgage program avoids federal agency that has won big fines from banks

February 25, 2016 03:14 PM

UPDATED February 25, 2016 04:14 PM

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