Bank of America said Thursday that it will continue its Community Homeownership Commitment program after surpassing its original goal of delivering $15 billion in affordable home loans and grants.

The program, launched in 2019, has provided more than $15 billion in affordable home loans. This total includes more than $600 million in down payment and closing cost grants to more than 57,000 homebuyers nationwide, the bank said.

Bank of America said the initiative will now become an ongoing commitment rather than a time-limited program, as affordability challenges continue to weigh on prospective homebuyers.

“Affordability remains one of the biggest barriers details ⇒

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