BBVA Compass Announces Zero-Percent Down Mortgage Loansadmin / 0 Comments /
Low-to-moderate income earners who struggle to afford three-percent down mortgage programs have a new opportunity to become homeowners. BBVA Compass has announced their new Home Ownership Made Easier (HOME) program that provides zero-percent down mortgages. For eligible borrowers, BBVA Compass will also provide up to $4,500 for closing costs. According to Eduardo Castaneda, executive director of real estate lending for BBVA Compass, the lender has “built a comprehensive program that will help many people across our footprint realize the dream of homeownership — something that may have seemed unattainable to them in the past.” To qualify, buyers must purchase a property in an area identified as a low-to-moderate income census tract by the Federal Financial Institutions Examination Council or have an income that does not exceed 80 percent of the median income in that area.
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