Buy your first home with confidence.

Get a lower down payment with an FHA loan

An FHA loan is backed by the Federal Housing Administration (FHA). It allows Bank of America to offer lower down payment options and more flexible qualification criteria versus conventional mortgage loans. If you are looking for loan options to help put your purchase plans into motion, these FHA options might be just what you need. ¹

Protect your home loan

If you’re a first time homebuyer, you could receive a federal tax credit of up to $8,000² when you buy your first home. Or, if you’ve lived in your home for at least five years, you could receive a tax credit of up to $6,500² when you buy your next home.

To qualify for the credit, you’ll need to meet certain criteria. The eligibility period for the tax credit has recently been extended through April 30, 2010 (the closing needs to take place by June 30, 2010). You can only apply the credit on the purchase of your primary home, not a vacation or investment property.

Easily understand your loan with our Clarity Commitment^®

A home loan isn’t just about getting the best deal. It’s about getting the right deal with no surprises.

That’s why our Clarity Commitment^® provides a simple, one-page summary of your home loan agreement. It’s written in plain language, so you’ll know exactly what you’re getting before you sign on the dotted line. ³