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BBVA Compass Announces Zero-Percent Down Mortgage Loans


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.

For more information, read the entire article.

Image credit:  Mark Moz