Bank of America

• Origination Fee Discount
• Affordable Loan Solution® Mortgage
• Low Closing Costs
• Highly-Rated Mobile App

Origination Fee Discount

Clients who are enrolled in or are eligible to enroll in Bank of America's Preferred Rewards program at the time they apply for a new purchase or refinance loan can get a discount on their origination fee. The discount ranges from $200-$600 depending on the rewards tier. 

Affordable Loan Solution® Mortgage 

Bank of America offers a special mortgage for qualified homebuyers with modest incomes who are unable to make a large down payment. The company offers a competitive fixed-rate loan with a down payment as low as 3% and mortgage insurance is not required. 

Low Closing Costs

Bank of America charges closing costs of 3-4 percent of the total loan amount, which is fairly low when compared to closing costs charged by other home loan companies.

Highly-Rated Mobile App

Bank of America offers a highly-rated mobile app that is compatible with Apple, Android, and Windows devices. Borrowers can use this app to view and manage their home loan, as well as access helpful tools and resources.

• Undisclosed Information

Undisclosed Information

Bank of America has not disclosed a minimum credit score requirement on its corporate web site, making it difficult for potential borrowers to have an idea of whether or not they have a good chance of qualifying for a home loan.