low and moderate income mortgages

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BofA’s low-down payment promising but what about the FHA?

Mar 22, 2016By

Ever since Bank of America announced its new 3% down payment mortgage program, the Affordable Loan Solution, it’s being looked at as an effort for borrowers to skirt around the Federal Housing Administration. Urban Institute research associate Karan Kaul says that though such efforts are an alternative to FHA lending, they are not a substitute.

3d rendering of a row of luxury townhouses along a street

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