Bank of America America's Home Grant

Bank of America America's Home Grant is a grant for homebuyers in Washington, District of Columbia, administered by Bank of America, N.A. America's Home Grant is a lender credit of up to $7,500 from Bank of America that can be used toward non-recurring closing costs such as title insurance and recording fees, or in certain cases to permanently buy down the interest rate via discount points. The funds do not require repayment and cannot be applied to the down payment, prepaid items, or recurring costs. It is available in select markets, reported to include the Washington metro region, and may be combined with the Down Payment Grant for up to $17,500 in total assistance. Funding comes from Bank of America Community Homeownership Commitment (lender credit).

Bank of America America's Home Grant offers up to $7,500 in assistance. The program can be combined with May be combined with the Bank of America Down Payment Grant (up to $17,500 combined in closing cost and down payment help). Amounts are the program's published maximums, not an offer — Bank of America, N.A. determines any individual award.

Bank of America America's Home Grant is structured as a grant, so it is not repaid. Repayment is triggered by None - lender credit does not require repayment. 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 is open to homebuyers who will live in the home as their primary residence.

Bank of America America's Home Grant sets its income limit as follows: Maximum income limits apply and vary by market; specific DC dollar limits were not published on the official page. The limit applies to total household income, not only the borrower’s. 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 can be used for Single Family, Condo, and Townhouse.

Bank of America America's Home Grant serves homebuyers purchasing in Washington, District of Columbia. The program targets specific areas: Available in select markets/geographic areas only, reported to include the Washington metro region.

Applications for Bank of America America's Home Grant go through Bank of America, N.A., which publishes the current terms and the application steps on its own site. Funds are reserved through Through a Bank of America lending specialist / Down Payment Center eligibility search. 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.