Per @bloomberg , @bankofamerica announced their test of a new zero down payment, zero closing cost mortgage solution for first-time homebuyers, which will be available in designated markets, including certain Black/African American and/or Hispanic-Latino neighborhoods in Charlotte, Dallas, Detroit, Los Angeles and Miami. Customers using the program will be evaluated for a home loan not by credit scores, but rather factors such as their history of making rent, utility, phone and auto-insurance payments on time, BofA said in a statement Tuesday. The Community Affordable Loan Solution aims to help eligible individuals and families obtain an affordable loan to purchase a home and includes other programs. What are your thoughts on this test by Bank of America? Can you or someone you know benefit from a program like this? Please discuss in the comments! ⠀ ⠀ #losangeles #homelessness #skidrow #losangelesmission #lamission #weareheretohelp #california #housing #bofa #equity ⠀