..5% Interest Rate Reduction for Dallas MSA

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  • #69970
    chaselendaze
    Participant

    Hello,

    I wanted to see if the .5% BOA Interest Rate Reduction Grant is still in effect for the Dallas ,TX area?

    If so, where would I find this information to give to my MC?

    Thank you,

    Chase

    #69972
    Nelsont
    Member

    It is not based on location. It is based on gross income. To qualify your income must be 80% or below the MSA median income and it would be automatically applied by bank of america.

    #69979
    TTrumble
    Member

    Hello chaselendaze,

    Actually, the BOA grant is available to only a specific list of MSA’s (Metropolitan Statistical Areas), but the list is so long it’s not worth mentioning most of the time. The DFW metro does qualify for the program.

    Have the counselor call our in-house helpline if he or she does not understand how it works. Don’t worry about it too much though. The system gives you the rate reduction automatically if you qualify.

    Tim Trumble
    Online Operations, NACA
    @naca.com">ttrumble@naca.com

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