Bank of America to offer $5B in new homebuyer grants


Bank of America (NYSE: BAC) announced a new $5 billion commitment to help more than 20,000 homebuyers across the country, including this region, afford their closing costs.

The five-year Community Homeownership Commitment will provide up to $17,500 to qualified buyers in certain cities, including D.C. Eligible homebuyers can earn as much as 3% of the home purchase price, or up to $10,000, for a down payment. Bank of America’s closing costs grant program offers up to $7,500 for nonrecurring costs.…

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