ISince the housing market crash of 2010, getting a mortgage has become more difficult. Low-interest rates are tempting to many who are looking to quit renting and to start building equity. But getting the loan approved is a huge task. Often these loans require you to pay a big down payment. But wait, you have an alternative solution, where you can only pay 3% down payment to get the home you wish to buy.
With so much scrutiny, finding someone to lend you money has become increasingly difficult. If you are being dissuaded from owning the American dream, take heart. The Bank of America has announced that they will begin a new program which will allow those who have as little as 3 percent down to give, to get a mortgage for home ownership.