Closing Costs Covered on House Hack

[Conner Olsen]

Bank of America is offering some big incentives right now for owner occupant purchasers in low to moderate income areas. (I assume this is nationwide). They are offering $17,500 in a closing cost grant to cover your closing costs and use for rate buydowns. These grants are called 'America’s Home Grant® Program', and 'America’s Home Grant® Program'. I had a client use this earlier this year. Income threshold is $162,000 in Austin. This is relevant to house hackers because the majority of duplexes in Austin are in low to moderate income areas.