No-fee mortgages for home buyers

Bank of America offering no-fee mortgages for home buyers - May. 7, 2007

Bank of America launches no-fee mortgages

The company will eliminate a number of fees and won't charge for private mortgage insurance.

NEW YORK (Reuters) -- Bank of America said Monday that it is offering no-fee mortgages nationwide for Americans buying homes.

The second-largest U.S. bank said it won't charge for applications, appraisals, loan originations, title insurance and flood certifications. It also won't charge for private mortgage insurance - often required for borrowers who put less than 20 percent down.  (CNNMoney.com)