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Bank of America offering $0 origination fee on certain mortgages

Source: Ben Lane, HousingWire

Bank of America recently announced that it will give “eligible borrowers” as much as $10,000 that they can use toward their down payment or closing costs when they get a Freddie Mac Home Possible mortgage, which require as little as 3% down from the borrower. 

Bank of America is also now offering a $0 lender origination fee on certain mortgages. Origination fees are typically between 0.5% and 1% of total loan amount, meaning on a $250,000 loan, borrowers likely pay somewhere between $1,250 and $2,500 in origination fees.

Read Full Article: Bank of America offering $0 origination fee on certain mortgages

 
 
 

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