Palm Springs, Calif., has been a redoubt for snowbirds and show business royalty at least since the 1930s.
A new path for first-time buyers debuts
October 13, 2014
The new Wealth Building Home Loan (WBHL) offers low-to-moderate-income home buyers the chance to secure a 15-year mortgage with little to no money down, Realtor.com reports.
“This will be a game changer,” the nonprofit Neighborhood Assistance Corporation of America says in a statement. “The majority of the mortgage payment will now go to the equity in the home effectively providing debt-free homeownership.” Bank of America will hold the 15-year mortgage loans and subsidize the interest rate buydown.
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More like this
- Left and Right come together to pioneer a 15-year loan program for low-income borrowers
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- Bank Of America Unveils New Mortgage Program
- Homeownership: A Steppingstone to Wealth, Realtor Says
Comments on: "A new path for first-time buyers debuts"
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