The announcement is the latest move by a big U.S. bank aimed at helping under-served communities.
Bank of America said it will help low and moderate income people in the U.S. become homeowners by extending $5 billion in mortgages.
"We know many of our clients want the power to own their first home, which can sometimes be challenging," D. Steve Boland, the bank's consumer lending head, said in the statement. The new programs will"aid them in overcoming barriers and put sustainable homeownership within reach."
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