Our wide range of loan products meet your buyers' needs

Up to $17,500 in closing cost and down payment help1 2 3 4

With Bank of America’s Community Homeownership Commitment®, homebuyers can combine down payment and closing cost programs with a low down payment mortgage to bring a new home within reach.

Visit our Down Payment Center or download the Community Homeownership Commitment flyer for more information.

Up to $17,500 in closing cost and down payment help1 2 3 4

Help to bring home ownership within reach

  • The America’s Home Grant® program offers a lender credit of up to $7,500 that can be used towards non-recurring closing costs, like title insurance and recording fees, or to permanently buy down the interest rate. The grant is available in select markets and the funds do not require repayment.1
  • Our Down Payment Grant program offers a grant up to 3% of the home purchase price or up to $10,000, whichever is less, to be used for a down payment in select markets. Must be a first-time homebuyer (no homeownership in the past three years). The grant program is available with our 3% down payment mortgage options. The funds do not require repayment.2
  • Our 3% down payment mortgage options may be combined with grant programs. Restrictions apply.3 4

Long-term rate locks up to 360 days for new construction

Bank of America offers some of the most competitive terms for permanent financing on new construction (after home completion). With our Builder Rate Lock Advantage® program, buyers can lock their permanent interest rate for up to 360 days.5

Download the Builder Rate Lock flyer for more information.

Check out our New Home Communities search page.

Long-term rate locks up to 360 days for new construction

With Builder Rate Lock Advantage®, homebuyers can:

  • Lock in an interest rate for up to 360 days5 in advance of the home's completion.
  • Run their construction financing and permanent loan applications concurrently.
  • Take a one-time option to relock to a lower interest rate, use discount points, or both.6

Multiple loan options for many types of clients

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  • Loan amounts up to $5 million on owner-occupied properties, up to $3 million on second homes and up to $1 million on investment homes.7 
  • 10-year interest-only payment option8 on adjustable-rate mortgages (ARMs)9 up to $5 million and on fixed-rate mortgages up to $2 million.
  • Lower down payment options with no mortgage insurance for qualified borrowers on owner-occupied properties with loan amounts up to $2 million (not available with an interest-only payment option).

Download the Jumbo Loan flyer for more information

Fixed-rate and adjustable-rate mortgage loans with the option to put as little as 3% down. Mortgage insurance will be required if the down payment is less than 20%.

Our Doctor Loan is specifically designed for licensed and practicing doctors and dentists, medical residents and fellows, and other eligible medical professionals.10 

  • As little as 3% down on mortgages up to $850,000, 5% down up to $1 million, 10% down up to $1.5 million and 15% down up to $2 million.10
  • Clients who are starting a new position can start up to 90 days after closing.11 
  • Student loan debt may be excluded from the total debt calculation.12

Download the Doctor Loan flyer for more information

Flexible qualifying guidelines with down payments as low as 3.5% of the purchase price.13 Gift funds can be used for down payments. Good option for buyers who have limited savings and/or do not meet conventional credit standards.

Fixed-rate loan with as little as zero down payment for qualified veterans of the U.S. armed services and their spouses.14

Learn more.

Contact your regional sales manager