Two grants.One lender.
Bank of America runs two separate grants: one for closing costs or a lower rate, and one for the down payment. This page separates what is real today from what people still repeat about a zero-down loan.
Our comparative assessment: cash saved 40%, ease 25%, speed 15%, fewer strings 20%. Full rankings
America's Home Grant is a lender credit of up to $7,500 for non-recurring closing costs or a permanent rate buydown, with no repayment. The Down Payment Grant is up to 3% of the price, capped at $10,000, for first-time buyers in select markets, also with no repayment. The Affordable Loan Solution is Bank of America's own 3% down mortgage with mortgage insurance. Bank of America does not publicly name the Down Payment Grant markets, so DFW availability is confirmed by a Bank of America lending specialist.
Who qualifies.
- Down Payment Grant: first-time buyer, meaning no home ownership in the past 3 years
- Down Payment Grant: property in one of Bank of America's select markets (not named publicly)
- America's Home Grant: income limits and eligible areas apply but are not stated publicly
- Affordable Loan Solution: income and loan limits that vary by location
- Affordable Loan Solution: HUD-approved homebuyer education may be required for first-time buyers
- The grants do not work with every Bank of America product
How it works.
Down Payment Center search
Bank of America's Down Payment Center search shows programs by location, including outside assistance.
Lending specialist conversation
A Bank of America lending specialist confirms which grants apply to the address and income, including whether DFW is a Down Payment Grant market.
Loan selection
The grants only attach to eligible Bank of America products. The Affordable Loan Solution is the bank's 3% down option.
Closing cost or rate decision
America's Home Grant can pay non-recurring closing costs or buy the rate down permanently. The split is a real choice with a long-term cost difference.
Closing
Both grants are applied at closing and neither is repaid.
Example: a $300,000 home
Example only. $300,000 x 3% = $9,000, which is under the $10,000 cap, plus up to $7,500 toward closing costs or a rate buydown. The Down Payment Grant only applies in select markets and to first-time buyers, and a Bank of America lending specialist confirms which grants apply to a specific loan. Rates, taxes, insurance and closing costs vary.
The packet includes the Bank of America grant and Down Payment Center links, the questions to ask a lending specialist about DFW eligibility, and a document checklist.
What works
- Two separate grants, neither repaid
- America's Home Grant can buy the rate down permanently instead of paying closing costs
- Affordable Loan Solution allows 3% down
- Affordable Loan Solution allows up to 105% combined loan-to-value on one unit, leaving room for outside assistance
What it costs you
- Down Payment Grant markets are not named publicly, and DFW is not confirmed
- Income limits and areas for America's Home Grant are not public
- The grants are tied to Bank of America as the lender and not to every product
- Affordable Loan Solution requires mortgage insurance
The part nobody explains.
Bank of America's zero-down Community Affordable Loan Solution, launched in 2022 with Dallas among its pilot markets, has no current official page. People still ask about it, but it is not presented as available today.
The Down Payment Grant is 3% of the price with a $10,000 cap. Above a $333,333 price, 3% passes $10,000, so the grant stops growing with the price.
A permanent rate buydown lowers every payment for the life of the loan, while a closing cost credit only helps on closing day. Which one wins depends on how long the buyer keeps the loan.
The 105% combined loan-to-value on the Affordable Loan Solution is what leaves room for a second-lien assistance program on top of the 3% down loan.
Get the packet.
The official links are not on this page on purpose. They come in one email, organized, with what to do with each one and in what order.
- The packet includes the Bank of America grant and Down Payment Center links, the questions to ask a lending specialist about DFW eligibility, and a document checklist.
- Every official link for this program, plus the links for every guide you explored here
- A match with a Texava-vetted lender who closes this program
- A direct reply from Albert in English or Spanish
Where should I send it?
Your packet is on its way.
Every guide you explore before you leave gets added to the next packet. Keep reading below.
Programs stack.
Side by side.
The Texava Score weighs what matters to a buyer: cash saved 40%, ease to qualify 25%, speed and paperwork 15%, fewer strings 20%.
Asked most.
Is the Bank of America zero-down loan still available?+
The zero-down Community Affordable Loan Solution launched in 2022, with Dallas among its pilot markets, has no current official page. The current published 3% down option is the Affordable Loan Solution.
Is DFW a Down Payment Grant market?+
Bank of America does not name its select markets publicly. A Bank of America lending specialist confirms it for a specific address.
Do I have to repay either grant?+
No. Neither America's Home Grant nor the Down Payment Grant is repaid.
Does America's Home Grant require being a first-time buyer?+
Bank of America lists the first-time buyer rule for the Down Payment Grant. Income limits and areas apply to America's Home Grant but are not stated publicly, so the lending specialist confirms eligibility.
What can America's Home Grant pay for?+
Up to $7,500 for non-recurring closing costs or a permanent rate buydown.
The value compounds.
$10,000 grant, up to $15,000 total
Read nextChase Homebuyer Grant$2,500 or $5,000 grant