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Bank of America launches down payment resource.

Global Banking News-April 2, 2015--Bank of America launches down payment resource

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Global Banking News - 02 April 2015

Bank of America (NYSE: BAC) has announced the launch of its new web-based tool to guide consumers to down payment and closing cost assistance programmes available in their region.

The move comes after a recent survey undertaken by Bank of America with first-time homebuyers found that nearly half of the respondents considered affordability as a barrier to purchasing a home. Additionally, 70 percent of adults in the U.S. said that they were unfamiliar with down payment assistance programs for middle-income homebuyers in their community, according to a Neighbor Works America survey.

Dottie Sheppick, senior vice president of Affordable Housing for Bank of America, said, 'Taking a few minutes to answer fewer than five questions can get you one step closer to homeownership. Through a simple process, you can find out immediately which federal, state or local down payment and closing cost programs you might be eligible for.'

The Bank of America Down Payment Resource Center is powered by Down Payment Resource developed by Atlanta-based Workforce Resource.

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Publication:Global Banking News (GBN)
Date:Apr 2, 2015
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