Great incentives for aspiring homebuyers though Bank of America

July 25th, 2017
Bank of America and Southwest Solutions organized the special Homebuyer Seminar in Detroit. Back row, left to right: Alvin Odom, Business Development Manager, Vice President, Neighborhood Lending at Bank of America; Perrin Emanuel, Realtor at Each Realty Group; Jaileene Tavarez, Homeownership and Financial Coach at Southwest Solutions; Libby Palackdharry, Director of Financial Stability Programs at Southwest Solutions; Kathy Cummings, Senior Vice President, Homeownership Solutions and Education, Neighborhood Lending at Bank of America; Anthony Cartwright, Broker/Owner of North American Real Estate; Charles Turner, Mortgage Loan Officer at Opportunity Resource Fund; Michael Khaireddine, Retail Sales Manager at Bank of America. Front row, left to right: Carrie Budzinski, Communications Manager at Southwest Solutions; Teresa Torres, Pre-Purchase Counselor at Southwest Solutions; Coretta Garner, Relationship Manager at Bank of America; Carol Guyton, Senior Vice President, Consumer Market Manager at Bank of America.

“This opportunity to achieve my dream of owning a home is too good to not look into,” said Eric Corales.

Eric is one of 40 aspiring homebuyers who attended a seminar on July 22 in Detroit to learn about special incentives offered through Bank of America. The incentives are for families and individuals with low to moderate household income. The seminar was hosted by Southwest Solutions’ Homeownership Assistance Team.

For residents of Detroit who want to purchase homes in the city, an extraordinary opportunity is available for up to $30,000 in downpayment assistance through a program called the Community Home Fund. This program is offered by Opportunity Resource Fund with support from Bank of America.

Bank of America is also offering the America’s Home Grant Program for low to moderate income residents of Wayne County. This program provides up to $2,500 toward closing costs. Eligible Detroit residents can combine this program with the Community Home Fund.

Eric Corales at the Homebuyer Seminar on July 22 in Detroit.

To quality for the Community Home Fund, the homebuyer must agree to live in the home for at least three years and must complete a Homebuyer Education course. Southwest Solutions offers both in-person and online homebuyer education.

Eric graduated from Southwest Solutions’ Earn + Learn job training program a year ago and then immediately got a full-time job in the food industry. He has also been working with one of Southwest Solutions’ financial coaches, Ivory Hodges.

“My credit has improved to point where I’ll be able to get a mortgage,” Eric said.

Eric now is looking to buy a home in southwest Detroit.

For more information about these great homebuying incentives and how you might qualify, contact Olga at 313-297-0095 or email her.

See the photo essay of the event on our Facebook page.

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