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Found your dream home? Just need the right loan?
Bank of America gives you a wide range of home loan options on primary residences, second/vacation homes and investment properties.
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We offer:
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Loan amounts up to $3 million
Fixed Rate and Fixed Period Adjustable Rate
Financing for Single Family or 2-4 units
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Quick help for selecting the right loan to get you into a home: |
Read the information here about the special features of Bank of America'sloan programs
Get general information on home loans in Learn about loans
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| Fixed Rate Loans |
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| For a list of features on any of these loans, just click the name of the loan program. |
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 | | Loan Program | Reason to Choose It | Key Feature |
| | | | | | | | | | | You want the stability of a fixed principal/interest payment over the life of the loan. |
| | | Down payments as low as 5%. |
| | | | | | | | | You want to put down just 5%. |
| | | Source of down payment can come from gifts, grants or unsecured loans. |
| | | | | | | | | You are building or significantly renovating a home and want to avoid the extra cost of two closings (construction loan and permanent loan). |
| | | One application, one qualification process, one closing, and one set of closing costs. Interest-only payments during construction, the choice of adjustable rate or fixed mortgage products and the option of permanent loan rate protection available for up to 18 months.** |
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Adjustable Rate Mortgages
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| For a list of features on any of these loans, just click the name of the loan program. |
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| | Loan Program | Reason to Choose It | Key Feature |
| | | | | | | | | | | You want to start with a low payment or want to buy more home. |
| | | As little as 5% down; rate adjustments each 6 months. |
| | | | | | | | | You plan to move or refinance again in a few years and want the security of a fixed rate for that period of time. |
| | | Fixed rate for 5, 7 or 10 years, then adjusts annually based on a financial index. |
| | | | | | | | | You are building or significantly renovating a home and want to avoid the extra cost of two closings (construction loan and permanent loan). |
| | | One application, one qualification process, one closing, and one set of closing costs. Interest-only payments during construction, the choice of adjustable rate or fixed mortgage products and the option of permanent loan rate protection available for up to 18 months.** |
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Loans Exceeding Fannie Mae/ Freddie Mac Guidelines
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| For a list of features on any of these loans, just click the name of the loan program. |
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| | Loan Program | Reason to Choose It | Key Feature |
| | | | | | | | | | | You need to borrow amounts exceeding the conforming loan
amounts allowed by FNMA and FHLMC*. |
| | Loans up to $3 million. Wide variety of program options:
- Second Homes
- Investment Properties
- Condominiums
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| Loans Designed for People with Various Financial Obstacles |
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| For a list of features on any of these loans, just click the name of the loan program. |
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| | Loan Program | Reason to Choose It | Key Feature |
| | | | | | | | | | | You may not have enough cash for a down payment, lack a traditional credit history or have uncommon sources of income. |
| | | Can use cash gifts from family and other sources of income. |
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* Restrictions apply. Program guidelines are subject to change Some products not available in all states.
** Interest rate is based on the one year Libor rate plus a margin the day your loan is locked. After that the rate is subject to annual adjustments with a limit of 2% and a lifetime adjustment limit of 6%. Underlying Promissory Note and Deed of Trust signed at closing are for a 1 year LIBOR ARM. ARM rates subject to increase during loan term. At conversion, the customer can choose to use the 1 year LIBOR ARM or select another available loan for which they originally qualified. Construction phase is 6, 9, 12 or 18 months and affects pricing. Ask for details.
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. Some products may not be available in all states.