Inside Bank of America's New Zero Down Payment Program | Will This Close the Racial Wealth Gap?

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In this episode I discuss Bank of America's new zero down payment program in detail and my personal opinion of the program. Bank of America recently announced a program that they will pilot in several cities in primarily Black and Hispanic neighborhoods. 

In addition to no down payment, there are no closing costs and buyers are eligible for grants of $10,000-$15,000 that will go towards the cost of the home. Another program they launched will help historically disadvantaged borrowers with grants of as much as $25,000 towards commercial real estate purchases. Currently only 3% of black households own commercial real estate.

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