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