We offer a wide range of loan products that can meet your clients' needs

Couple talking to builder in their new home

Long-term rate locks up to 360 days with Builder Rate Lock Advantage®

Bank of America doesn’t offer construction financing for homebuyers, but we do offer some of the most competitive terms for permanent financing on new construction (after home completion). Our ability to lock in an interest rate for up to 360 days1 in advance of completion means buyers can run their construction financing and permanent loan applications concurrently, taking the guesswork out of future interest rates. Buyers can secure their permanent interest rate now through our Builder Rate Lock Advantage® program. Plus, there's a one-time option to relock to a lower interest rate or use discount points, or both.2

Download the flyer for more information.

Up to $17,500 in closing cost and down payment help

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.

  • 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. This grant is available in select markets, and the funds do not require repayment.3
  • 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. The grant program is available with one mortgage product. The funds do not require repayment.4
  • Our 3% down payment fixed-rate mortgage, Affordable Loan Solution®, offers a competitive rate.5

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

Builder showing new home owners details of the exterior of their house

Learn more about Bank of America's Community Homeownership Commitment®

Listen to a message from A. J. Barkley, head of Neighborhood and Community Lending.

Additional 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.6 
  • 10-year interest-only payment option7 on adjustable-rate mortgages (ARMs)8 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).

Fixed-rate and adjustable-rate mortgage loans with the option to put as little as 5% down. Mortgage insurance may 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.9 

  • 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 million10  
  • 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 

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

Want to learn more?

Contact your regional sales manager