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Bridging the affordability gap

Photograph of a group of Hispanic family members  dancing in the yard of a private home

Nearly a third (30%) of Hispanic homebuyers say high-cost rents make it hard to save for a down payment, according to Bank of America’s 2023 Homebuyer Insights survey. While many can afford monthly mortgage payments, the down payment and upfront closing costs pose a challenge.

Bank of America offers eligible buyers up to $17,500 in down payment and closing cost grants.


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