SPRING IS ON THE WAY, AND IT’S ALL ABOUTHOMEBUYING.
Mark Bishop’s guest is a HOMEOWNERSHIP EXPERT discussing HOW TO MAKE YOUR DREAMS A REALITY and the hurdles many first-time homebuyers face along with details of the bank’s home buyer grants and First-Time Homebuyer Online Edu-Series™.
Guest:
AJ Barkley, SVP, Neighborhood Lending Executive at Bank of America
AJ Barkley is the Neighborhood Lending Executive for Bank of America, responsible for identifying opportunities to drive successful homeownership among low-to-moderate-income borrowers, underserved communities, and multicultural borrowers across the economic spectrum.
According to Bank of America’sHomebuyerInsights Report, most homeowners (88 percent) say that buying a home is the best decision they have ever made, however,95 percent of prospective homebuyer’s face barriers to owning, including 42 percent who feel they lack support/advice and don know where to start.
To set buyers in the right direction, Bank of America offers a wealth of resources and programs, including its recently-launched first-time homebuyer on-demand video series and significant grant programs that are helping buyers with some of the upfront costs of homeownership.
The Bank of America Community HomeownershipCommitment™ is a $5 billion initiative to help eligible homebuyers purchase a home affordably. AJ says, “Loans requiring a down payment as low as 3 percent, some with no mortgage insurance required. Through a Down Payment Grant program is available in nearly 50 cities, the bank will give–no repayment necessary–eligible homebuyers 3% of the home purchase price (up to $10,000) to be used for a down payment.
Qualified homebuyers may also be eligible for the bank’s closing cost grant program, a lender credit through which they could receive up to $7,500 toward non-recurring closing costs or, in some instances, to buy down their interest rate.
Bank of America has launched a new educational video series designed to simplify the homebuying process for prospective first-time buyers. First-Time HomebuyerOnline Edu-Series™features Bank of America experts providing guidance and tips on homebuying, and is the Company’s latest effort to help more individuals and families pursue sustainable and affordable homeownership. The six-episode, on-demand series, hosted by BuzzFeed’s Hannah Williams, covers key aspects of homebuying and teaches viewers smart strategies to shift attitudes from “How do I do this?” to “I can do this.”
