Los Angeles buyer guide
Is Bank of America's Community Affordable Loan Solution Available in Los Angeles?
The short answer
Bank of America's Community Affordable Loan Solution is not confirmed as available in Los Angeles. The bank announced it for Los Angeles on August 30, 2022 (Bank of America, 2022 press release, checked November 9, 2026), and no current page lists it (Bank of America, Community Homeownership Commitment page, checked November 9, 2026). Its grant pages also do not name Los Angeles as an eligible market. Only a Bank of America lending specialist can confirm whether the program is offered today.
Justin Borges of The Borges Real Estate Team at eXp Realty (DRE #01940318, (213) 262-5092) is the Los Angeles agent who helps buyers sort out which Bank of America programs are on the table. The loan officer, not an agent, decides eligibility, and Justin works alongside your loan officer on the home search and the offer.
Browse listings while status gets confirmed
When a Los Angeles listing catches your eye, I pull the recent sales near it, so you see what similar homes sold for.
What did Bank of America announce for Los Angeles in 2022?
On August 30, 2022, Bank of America announced the Community Affordable Loan Solution for first-time homebuyers in five cities, Los Angeles among them with Charlotte, Dallas, Detroit and Miami, and described it as a Special Purpose Credit Program, the label its release used (Bank of America, Community Affordable Loan Solution press release, checked November 9, 2026).
Its terms, as the release listed them:
| Feature | What the 2022 release described |
|---|---|
| Down payment | Zero |
| Closing costs | Zero |
| Minimum credit score | None |
| Borrower | First-time homebuyers |
A down payment is the share of the price a buyer pays up front, and a minimum credit score is the lowest score a lender accepts for a loan. Closing costs are the lender, title and recording fees a buyer pays at escrow, so a zero-closing-cost description points to less cash needed at the closing table in Los Angeles, where the escrow statement lists those fees line by line.
Each row describes the 2022 announcement as written, in the past tense, because a release records what a lender said on its date and does not show the lender's current guidelines, so every row above carries the August 30, 2022 date.
Text me the date printed on your flyer or email and I tell you whether it comes before or after Bank of America's August 30, 2022 release. Text (213) 262-5092
Does any current Bank of America page list it?
No. Bank of America's affordable housing programs page, its Community Homeownership Commitment page and its Affordable Loan Solution page list only three programs: the Down Payment Grant, America's Home Grant and the 3% down Affordable Loan Solution (Bank of America, Community Homeownership Commitment page, checked November 9, 2026).
The affordable housing programs page is Bank of America's overview of its grants and loan assistance, the Community Homeownership Commitment page is where the grant terms sit, and the Affordable Loan Solution page is the product page for the 3% mortgage. The same three names appear on all three pages, with no fourth program added.
A buyer touring Los Angeles homes can still plan a search while the status stays open, because the three listed programs each have their own Bank of America page.
Tell me your price range and I set up a saved search that texts you new Los Angeles listings in it, so you keep touring while the status stays open. Browse current Los Angeles listings
Bank of America's pages were read on November 9, 2026, so that list reflects that day and not a later one. The Community Affordable Loan Solution is not among the three, and a program's absence from a page does not tell you its status either way. A search of Bank of America's mortgage pages and news on November 9, 2026 found no notice that ends or expands the program (Bank of America, mortgage pages re-check), so this guide calls the status unconfirmed as of November 9, 2026.
Get the status in writing
I draft the short note you send a Bank of America lending specialist, so the status question is already worded when you reach them.
How is the 3% down Affordable Loan Solution different?
The Affordable Loan Solution is a different mortgage with a similar name, and its terms come from its own Bank of America product page (Bank of America, Affordable Loan Solution mortgage page, checked November 9, 2026).
Bank of America lists these terms for one-unit homes as of the November 9, 2026 read; terms change, so confirm with the lender.
| Term | Affordable Loan Solution |
|---|---|
| Down payment | 3% |
| Mortgage insurance | Required |
| Loan-to-value | Up to 97% |
| Combined loan-to-value | Up to 105% |
Mortgage insurance is an added cost on a loan with a small down payment that protects the lender if the borrower stops paying. Loan-to-value compares the loan amount with the home's value, and combined loan-to-value adds any second loan taken at the same time, such as a down payment assistance loan. Because the ratios are caps, a lower ratio means a larger share of the price comes from the buyer's own money. For the general question of what a Los Angeles purchase takes up front, see How Much Down Payment Do You Need for a House in Los Angeles?
First-time buyers may be required to complete homebuyer education from a HUD-approved agency (Bank of America, Affordable Loan Solution mortgage page). A combined ratio over 95% requires secondary financing that is an affordable down payment assistance program (Bank of America, Affordable Loan Solution mortgage page), all on a loan that starts at 3% down.
Send me a listing's address and I tell you how many units it has, since the terms above are for one-unit homes. Text (213) 262-5092
Where do Bank of America's grants fit in?
Bank of America's grants are separate programs, not mortgages, and neither one is the Community Affordable Loan Solution.
The two programs are the Down Payment Grant and America's Home Grant, which Bank of America describes as a lender credit (Bank of America, affordable housing programs page, checked November 9, 2026). A lender credit is a reduction in closing costs that the lender gives the buyer.
Both programs require the loan to fund with Bank of America (Bank of America, Community Homeownership Commitment grant terms), so each grant is tied to a Bank of America mortgage.
A grant and a mortgage answer different questions: the mortgage is the loan that buys the home, and the grant is money applied alongside it, so reading a grant page does not describe the loan. Bank of America lists the two grants together on its Community Homeownership Commitment page, each under its own name.
Call me and I walk through how a loan contingency is written into a Los Angeles offer, since both grants require the loan to fund with Bank of America. Call (213) 262-5092
The live guide How Does the Bank of America $10,000 Down Payment Grant Work in Los Angeles? owns the requirements for both grants, and Bank of America may change or discontinue either program without notice (Bank of America, Community Homeownership Commitment grant terms).
What should I ask a Bank of America lending specialist?
Four questions cover the call with a Bank of America lending specialist, and the program name from your paperwork should be in front of you.
- The program's exact name as printed on your paperwork, because the name decides which terms apply and which Bank of America page governs them.
- Whether Bank of America offers it today for the home you are buying, stated as a yes or a no and not as a general description of the program.
- The income limit and how Bank of America sets it, because an income limit decides who can use a program at all and a buyer cannot read it off a flyer.
- Whether the program you are quoted is the 2022 loan or the 3% loan, so the terms you write down belong to the right product.
Text me the home you plan to name when you call Bank of America and I send its list price and size, so the specialist gets the right figures. Text (213) 262-5092
Name a specific Los Angeles home or price range when you call, because an answer is given for a particular purchase and not in general. The four answers fit together: the name points to the product, the product carries its own terms, and the address and income decide whether those terms reach you.
Bank of America's pages list three programs today, and each carries its own figure: the Affordable Loan Solution at 3% down (Bank of America, Affordable Loan Solution mortgage page), the Down Payment Grant at up to 3% of the price, up to $10,000, and America's Home Grant at up to $7,500 in select markets (Bank of America, Community Homeownership Commitment grant terms).
Get the answers in writing with the program name and the date on them, so the status is on paper before you write an offer on a Los Angeles home.
Does my Los Angeles address change which program applies?
Yes, for both the 3% loan and the grants, though the two work differently.
Bank of America's page says income and loan amount limits apply to the 3% loan and vary by location (Bank of America, Affordable Loan Solution mortgage page, checked November 9, 2026), so the location of the home you buy matters to the limits you meet.
The City of Los Angeles is one city inside Los Angeles County, which also holds separate cities such as Pasadena and Glendale, so the specific address is the detail to confirm, and a mailing address that says Los Angeles does not by itself say which city the home sits in.
Send me an address from your Los Angeles search and I tell you whether it sits inside the City of Los Angeles or in another city. Browse current Los Angeles listings
Two buyers with the same income can meet different limits on the 3% loan if their homes sit in different places, which is what vary by location means in practice.
The grants carry a geographic requirement: the purchase must be within a certain geographic area (Bank of America, Community Homeownership Commitment grant terms).
Bank of America's grant pages do not name Los Angeles as an eligible market (Bank of America, Community Homeownership Commitment grant terms).
Send me the listings you are watching and I tell you how long each has been on the market and whether its price has changed. Text (213) 262-5092
Frequently asked questions
Is Bank of America on the City of Los Angeles first-time buyer lender list?
No. The Los Angeles Housing Department's participating-lenders list, dated through September 30, 2026, does not list Bank of America ( LAHD, Participating Lenders list, checked November 9, 2026 ). Use the guide to which banks offer first-time homebuyer grants, linked below, to compare banks.
Text me your lender list and I mark which names appear on the Los Angeles Housing Department's participating-lenders list. Text (213) 262-5092
Did Bank of America publish an income limit for the 2022 loan?
No. No dollar income limit appears in the release ( Bank of America, 2022 press release, checked November 9, 2026 ). Any income figure attached to the program comes from another source, and the Bank of America pages do not print one for it.
Did the 2022 loan require a homebuyer class?
Yes. The release put a homebuyer certification course ahead of the application ( Bank of America, Community Affordable Loan Solution press release, checked November 9, 2026 ). The class came first, before any lender conversation.
Did the 2022 loan require mortgage insurance?
No. The announcement listed the loan with no mortgage insurance ( Bank of America, 2022 press release, checked November 9, 2026 ). That is the announcement's own wording, and the release is the only primary source found for it.
Does Bank of America's old promotional page still list it?
No. The former promotional address, promotions.bankofamerica.com/homeloans/futurehome, which once listed the program, redirects to the Community Homeownership Commitment page without it, and the product address bankofamerica.com/mortgage/community-affordable-loan-solution/ returns a not-found page ( Bank of America, Community Homeownership Commitment, checked November 9, 2026 ).
Send me the homes you have toured and I put each one's list price, size and year built on one sheet. Browse current Los Angeles listings
Did the 2022 announcement cover every Los Angeles address?
No. Eligibility depended on income and on a home sitting in designated neighborhoods ( Bank of America, 2022 press release, checked November 9, 2026 ). A Los Angeles home fell under it only inside those neighborhoods, because naming Los Angeles as a launch city did not cover the whole city. None of this guide's sources name those neighborhoods, so the release alone does not show whether a given Los Angeles address was inside.
Count the answer back to your offer date
Text me the dated written answer when you have it and I count it back against the offer deadline on the home you want.
Sources
- 2022 press release, prnewswire.com. Checked November 9, 2026.
- Community Homeownership Commitment page, promotions.bankofamerica.com. Checked November 9, 2026.
- mortgage pages re-check, bankofamerica.com. Checked November 9, 2026.
- Affordable Loan Solution mortgage page, bankofamerica.com. Checked November 9, 2026.
- affordable housing programs page, bankofamerica.com. Checked November 9, 2026.
- Participating Lenders list, Los Angeles Housing Department (housing.lacity.gov). Checked November 9, 2026.
About the author
Justin Borges
REALTOR® | CA DRE #01940318
Justin writes LA Metro Home Finder’s guides to 30+ communities across the San Gabriel Valley, Northeast LA, and greater Los Angeles, and has closed $200M+ in career sales with a 106% average list-to-sale ratio.
Justin has held an active California DRE salesperson license since October 2013. View Justin’s author profile.
This guide is educational and is not legal, tax, title, lending, or insurance advice. Contract forms, statutes, and lender rules change. Confirm the terms that apply to your sale with your escrow officer, title officer, lender, or a California real estate attorney.
