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Bank of America expanding mortgage program for low income familiesBank of America's Community Homeownership Commitment� provides a low down payment mortgage for modest-income and first-time homebuyers. Qualified homebuyers may receive 3% of the purchase price with a maximum $10, (whichever is less) through our Down Payment Grant program in select markets. Bank of America offers the standard first-time buyer loan programs such as FHA, VA, and a 3% down payment loan for income-qualifying borrowers.
