Bank of America Helps Educate First-Time Homebuyers Through Free, On-Demand Video Series
Homebuying Experts Demystify the Process, Give Prospective Homeowners Greater Confidence
Bank of America has launched a new educational video series designed to simplify the homebuying process for prospective first-time buyers. The First-Time Homebuyer Online Edu-Series™ features Bank of America experts providing guidance and tips on homebuying, and is the company’s latest effort to help more individuals and families pursue sustainable and affordable homeownership.
The six-episode, on-demand series, hosted by BuzzFeed’s Hannah Williams, covers key aspects of homebuying and teaches viewers smart strategies to shift attitudes from “How do I do this?” to “I can do this.” Video topics include:
- Five Stages to a Home of Your Own
- Preparing Your Finances
- Prepare, Prequalify and Get Preapproved
- Find a Home and Make an Offer
- Apply for a Mortgage
- Close Your Loan and Move In
“The path to homeownership isn’t always easy to navigate, but this series creates a roadmap to take you from renter to owner,” said Kathy Cummings, senior vice president of Homeownership Solutions for Bank of America and an expert on preparing to buy a home. “We created this series to demystify homebuying and to give first-time buyers the confidence to pursue their goal of owning a home of their own.”
Most homeowners (88 percent) agree that buying a home is the best decision they have ever made, according to Bank of America’s Homebuyer Insights Report. However, 95 percent of prospective homebuyers face barriers to owning, including 42 percent who feel they lack support/advice and don’t know where to start. The guidance and tips made available through this video series offer a substantive starting point for prospective homebuyers.
Beyond this series, Bank of America is supporting prospective homeowners through its $5 billion affordable homeownership initiative, which will help more than 20,000 individuals and families become homeowners. This Community Homeownership Commitment includes grant programs (no repayment required) specifically designed to help prospective homebuyers get over the most common barrier to homeownership ‒ saving enough for a down payment and closing costs. Additionally, through Better Money Habits®, Bank of America supports people in becoming more financially resilient by connecting them to the tools, resources and education they need to help achieve financial goals, including homeownership.
To learn more, register for free access to the First-Time Homebuyer Online Edu-Series™, and visit the Bank of America Down Payment Center for information about the bank’s down payment and closing cost grants.
Bank of America Consumer Lending
Bank of America is committed to building and strengthening communities across America. Consumer Lending helps clients build pathways to home and car ownership and provides access to credit to meet a broad range of financing needs. Bank of America offers mortgages for home purchase or refinance, home equity lines of credit, vehicle loans, and a wide variety of credit cards. With award-winning technology, lending specialists across the country deliver an informative and distinctive client experience, providing expert financial guidance, a broad suite of competitive products and superior service. Clients can search for homes or cars; request mortgage prequalification or preapproval; and apply for loans and credit cards. Digital tools and resources, including the , Digital Car Shopping tool, and Real Estate Center, complement the experience of specialists in each of these areas. Bank of America’s industry-leading Preferred Rewards program adds lending benefits and rewards, which increase as qualifying savings and investments grow.
Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 66 million consumer and small business clients with approximately 4,300 retail financial centers, including approximately 2,200 lending centers, 2,400 financial centers with a Consumer Investment Financial Solutions Advisor and 1,700 business centers; approximately 16,600 ATMs; and award-winning digital banking with more than 37 million active users, including approximately 28 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Reporters May Contact:
Susan Atran, Bank of America, 646.743.0791