Bank of America America's Home Grant - California

Bank of America America's Home Grant - California is a grant for homebuyers in California. Lender credit of up to $7,500 toward non-recurring closing costs (title insurance, recording fees) or permanent interest rate buydown. Can be combined with Down Payment Grant for up to $17,500 total. Must use Bank of America mortgage. Up to $7,500 in assistance. non-repayable grant. Funding comes from Bank (CRA).

Bank of America America's Home Grant - California offers up to $7,500 in assistance. The program asks homebuyers to contribute 1% of purchase price (borrower minimum). The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Bank of America America's Home Grant - California is structured as a grant, so it is not repaid. Repayment is triggered by None (grant/lender credit). The assistance is recorded in N/A (grant - no lien) position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Bank of America America's Home Grant - California is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: Contact lender for current credit score requirements. A homebuyer education course is required. Residency requirement: Primary residence. Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen. $7,500 lender credit for closing costs only (not down payment). No repayment required. Must use Bank of America as lender. Available in California.

Bank of America America's Home Grant - California limits household income to 80% of the area median income, which varies by county and household size. Contact program provider for current income limits. The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Bank of America America's Home Grant - California caps the purchase price as follows: Contact program for current purchase price limits. Eligible property types include Single-family (1-4 unit), FHA-approved condominium, townhome/PUD. New construction is eligible. Manufactured homes are not eligible.

Bank of America America's Home Grant - California serves homebuyers purchasing anywhere in California.

Applications for Bank of America America's Home Grant - California go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Lender direct application. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.