Bank of America introduces No Fee Mortgage PLUS
Bank of America has tested a mortgage with no closing fees in several states for the past few months and is rolling out the program nationally. Their new No Fee Mortgage PLUS eliminates fees including private mortgage insurance and all borrower, lender and third-party fees.
If the loan rate is competitive with other lenders who charge closing costs, this will be an outstanding program and will enable Bank of America to become a much more important mortgage lender.
The biggest benefit is that this program will increase affordability which is one of the critical issues facing homebuyers here in the Charleston South Carolina real estate market as well as many other areas of the country.
Read about No Fee Mortgage Plus.