Bank of America Introduces Community Affordable Loan Solution™ to Expand Homeownership Opportunities in Black/African American and Hispanic-Latino Communities. The nationwide program will offer home loans with no down payment or closing cost for first-time homebuyers in Black and Hispanic communities — as defined by the census — in Dallas, Charlotte, Detroit, Los Angeles and Miami. .
The Community Affordable Loan Solution
Bank of America today announced a new zero down payment, zero closing cost mortgage solution for first-time homebuyers, which will be available in designated markets, including certain Black/African American and/or Hispanic-Latino neighborhoods in Charlotte, Dallas, Detroit, Los Angeles and Miami. The Community Affordable Loan Solution™ aims to help eligible individuals and families obtain an affordable loan to purchase a home.
The lawsuit claims the statute violates Section 2 of the Voting Rights Act, the First and Fourteenth Amendments to the U.S. Constitution, and Title II of the Americans with Disabilities Act. We’re seeking to prevent Secretary of State Laurel M. Lee from enforcing the discriminatory and restrictive provisions of the new law.