122: My Thoughts on Bank of America's No Money Down Mortgage Loan

Bank of America recently announced a new no money down mortgage program for first-time home buyers, called the Community Affordable Loan Solution™. Tune in to learn about this new program, and to hear my thoughts on no money down mortgage loans.

Notes:

In this episode, Luis speaks about the following and more:

• Bank of America's Community Affordable Loan Solution™
• What private mortgage insurance is and how it can increase your mortgage payment
• What debt-to-income-ratio is and how it's used to determine if you qualify for the loan
• How you can qualify for a home you cannot afford

Sources:

https://newsroom.bankofamerica.com/content/newsroom/press-releases/2022/08/bank-of-america-introduces-community-affordable-loan-solution--t.html

Resources:

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