Bank of America’s New Racist Policy: Offers Zero Down Payment, Zero Closing Cost Mortgage Loans to Non-Whites

Equal rights are a rallying cry for progressive liberals. They want diversity to permeate each and every aspect of American culture. On the one hand, they insist that all Americans are created equal, particularly minorities. But they enact legislation and policies that oppress certain racial or social groups.

Favoring Americans because of their skin tone is hypocritical. However, a number of “woke” companies have continued to exclude one race from certain programs in spite of this. During the pandemic, only Hispanic farmers were given assistance from a particular program that was designed to help.

This is hardly the only instance of how people of a specific race or skin tone are offered financial advantages. A unique initiative for home loans was recently unveiled by Bank of America. Prospective homeowners will be able to apply for a zero-down payment in a few U.S. cities.

The program will also offer zero-closing-cost mortgages. There’s only one big problem. If the aspiring new homeowner is, say, white, Asian, or anything other than black or Hispanic, they don’t qualify. There are also some other interesting features to this program of racial favoritism.

There will be no requirement to carry mortgage insurance. Besides this suspicious loan security omission, no minimum credit score is required. Does anyone else see a trend here that mirrors the dreadful housing collapse that happened in 2008?

Is Bank of America trying to repeat the same calamity that devastated the U.S. housing industry? Or maybe, Bank of America is just another massive corporation trying to look “woke.” In many respects, this doesn’t even appear to be legal.

There are housing discrimination laws in America. Offering people of a particular race or skin color an advantage in the housing market is blatant discrimination against those who do not qualify. Once again, in the name of diversity, white Americans are being discriminated against.

Photo Credit: Mike Mozart

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