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Bank of America Home Loans

Bank of America provides four types of home loan products to its customers. Bank of America They are, a) to purchase a home, b) to refinance a home, c) reverse mortgages and d) home equity. The rate of interest charged on each of the different home loan is also different. Lets have a look at them one by one.

Bank of America Home Loan Rates:

As said earlier, Bank of America offers four different types of home loans. According to latest data of 01-25-11, the mortgage type 30-Year Fixed-Rate is 4.750% and APR is 4.930%. Mortgage type 15-Year Fixed-Rate is 3.875% and ARM is 4.143%. The customer is free to choose any of the home loan scheme and interest rate depending on his/her budget and family requirements. The rate of interest charged on all the four home loans are different. They are mentioned below:

Bank of America Home loans to purchase a house:

Bank of America offers housing loan to buy a new house or to buy another house. The maximum loan amount that can be availed is $3 million. It gives out two repayment options namely, fixed rate and fixed period adjustable rate. These home finances are given for single families as well as for two to four units. Its key feature is that its downpayment is as low as 5%. You can refer to the Bank of America Home Loan Guide in the bank's website to help you take a wise decision in buying a home.


Bank of America Housing loans to refinance your house:

Refinancing loan amount is also $3 million. If you want stability on the rate of interest applicable on the loan amount then this type of home finance would suit you. Its key feature is that you can avail up to 90% of the present value of your house. Whether you want to lower your monthly payments, switch to a fixed rate or a cash out refinance, BOA home loans have it all to refinance your house.


Home Equity Loans:

Home equity loans are given by the BofA for consolidation of credit cards, furnishing and decorating your new house and thus preparing you for all your future requirements. A home equity loan could help you fund one-time expenses like, home improvement. You have also the option to lock in a low fixed rate. This home loan does not focus much on the paper work and helps you to avail the housing loan amount as soon as possible. A home equity line of credit offers a lower interest rate than most credit cards and other types of consumer loans.


Reverse Mortgage

Reverse Mortgage is available in fixed and adjustable rate of interest. This reverse mortgage feature helps you to use the tax free proceeds and access only a portion of the use. This makes your future safe and secure as you will have not have to worry about staying in an own house after retirement.

Details on BofA home loans can be found online. You only have to sign in with the help of your login id and password. In order to receive a copy of the current home loan rates you will have to enter your payment address and phone number. The bank will further get in touch in with you on the status of your application. The bank also gives loans for commercial purposes. Bank of America has recently announced its new modification program to help all those who are unable to make repayments of the current loan. The BofA home loan modification includes lower interest rates, reduction on the principal amount, no charges as late fees and so on.

Bank of America Home Loan Modification

Bank of America home loan modification program is designed specially to cater to those people who are finding it difficult to repay the loan amount. The home loan modification department looks in the home loans previously applied. In order to be eligible for a modification program you need to prove why you really wish to modify the loan. If the reason is acceptable by Bank of America home loan department, the modify the housing loan by offering you reduced rate of interest on the principal and loan amount and an increase in the repayment period. This helps you to pay back the loan at your own leisure. One of the advantages of applying for bofa home loan modification is bank is associated with federal loan modification programs, which increase the chances of getting favorable home loan modification and saving your home. For modification guidelines you may call the bank directly.

Bank of America Home Loan Login

Bank of America home loan login id and password is given to each of the home loan customers so that they are able to make payments via the Internet. Not only this but, a customer can check his/her dues online. All you have to do is sign in with the help of the login id and password provided by the bank. Once you sign in to your account, your personal details will be displayed. All the banking transactions carried out online are kept confidential. The home loan offices can also be contacted directly if there is any problem in accessing the online account.

Bank of America Home Loan Calculator

Home loan calculator is a very important tool provided by the bank. With the help of the Bank of America home loan calculator you come to know of your estimated repayments. Depending on the amount shown in the calculator you can re-think on the home loan you wish to borrow. The calculator gives you an idea of the repayments you will have to make after availing the home finance. It is always better to have a rough clue of the repayments than to repent later on.

Bank of America Payment

The payments of Bank of America home loans can be made online. It also has branches throughout the United States of America. You can log on to their official website to find out the bank's address in your area. You can avail the online banking service of the bank to transfer money, monitor credit card accounts and online bill payment. It saves a lot of time and above all it is easy and fast. You can also visit the bank personally and make loan payments. Most customers wish to pay off the home loans online. In case you want to pay it at the bank's branch, you can do it so.

Bank of America Home Loan Countrywide

Countrywide is America's largest financial lender of home loans and mortgage loans to all its customers. In the year 2008, Bank of America has acquired countrywide and thus the name Bank of America home loans Countrywide came in to establishment. Since the merger of these two largest financial institutions in America, the BofA has become undoubtedly the biggest financial enterprise in the world.

Bank of America Home Loan Services

The home loan services are the customer service department which handles all customer queries, complaints, suggestions and feedback. You can now check your home loan application status, ask about your application form by calling on their number 1.800.669.6607. Each customer is given a unique home loan number. Once you contact the bank's home finance department, they will let you know about your status. In case you misplace the home loan number, the bank customer care officials will help you to find out the same. For more details on the Bank of America home loan servicing lp and the servicing centers you can log on to their official website.

Bank of America Home Loan Reviews

Bank of America home loan reviews can be read by logging on to their official website. You may also find a number of reviews posted in the form of blogs by all the satisfiied customers. Customer satisfaction holds a very important position for the bank and in order to maintain good relations with the customers, the bank strives its level best. All the customers are asked to fill up a feed back form and submit the same with the bank officials. These in turn form reviews about the working structure of the bank.

Bank of America Address

Bank of America Corporate Affairs
100 North Tryon Street
Charlotte, NC- 28255
Phone number for Personal Loans

For more details on bank of America home loan log on to the link below:

Bank of America

Home Loan Modification

Home Loans Customer Service

Home Loan Rates

Home Loans Login

Home Loan Status

Home Loans Countrywide

Personal Loans

Personal Loan Rates