Bank of America has announced that it will offer 3% down mortgages with no PMI. According to the article the BoA mortgages could be lower than FHA. BoA has hooked up with Freddie Mac and Self-Help Ventures Fund. If you remember BoA has had to pay the government $800M in fines for the mortgage debacle.
Here's the whole article
http://www.nasdaq.com/article/bank-of-americas-newest-mortgage-3-down-and-no-fha-20160222-00460
I had not heard this, Doug. Will be calling a few of my lenders to get their perspective.
Doug Dawes
Topsfield, MA
Hi Nina Hollander
Was a Wall Street Journal article but I don't subscribe to WSJ. I heard it on Fox Business this morning and Googled it.
Nina Hollander, Broker
Charlotte, NC
One thing I know, Doug, is that not all "programs" are available in all markets with national banks like BofA, which is why I want to speak with some local lenders.
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