BofA waives private mortgage insurance on 'no-fee' loan

Consumers may find loan hard to measure against others

Inman News

Bank of America is expanding the definition of "no-fee" mortgage loans with a product that pays lender fees and doesn't require private mortgage insurance for those who want to put as little as 5 percent down on a home purchase.

"There is no catch, and there are no surprises" to the loan, which can save borrowers more than $3,000 in fees on a $200,000 loan, BofA officials said Monday as they To continue reading sign in to your Premium Membership Premium Member account.

Premium Membership Premium Members have full access to all news archives.

Buy Now Purchase 1-year Premium Membership - $149.95

OR

Buy Now Purchase Monthly Premium Membership - $19.95