Bank of America Down Payment Grant program 2021

[Josue Mull]

Hello everyone!

I am a First-time Homebuyer and up to now, I was looking into FHA loans to house hack and eventually become a buy and hold real estate investor.

I recently came across the Bofa Down Payment Grant program and had two questions: 

1. Are you able to refinance this loan?

2. Is this a better route (since it is free money and you only need to pay taxes on it) compared to FHA?

If anyone can assist me with this I would highly appreciate it! 

Thanks, 

Josue