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home equity line of credit

Unlock the possibilities

Get a special rate on a HELOC you can use for debt consolidation,¹ education costs, large purchases and more.

Get a home equity line of credit for fast and flexible access to funds

Introductory variable rate

variable APR² for first

6 months

Variable rate thereafter

variable APR²;
includes discounts³

Rates above as of and subject to change.
Based on a line amount of $100,000 and an initial draw of $60,000.

Home Equity rates are unavailable at this time

Please try reloading the page again, or try back later. You can also call and speak to an agent Monday through Friday, 8:00 am to 10:00 pm Eastern and Saturday 8:00 am to 6:30 pm Eastern.

Information for:

Call 1.800.593.7306 Mon - Fri 8 a.m. - 10 p.m. Eastern | Sat 8 a.m. - 6:30 p.m. Eastern

Possibilities abound

Use your money your way…

Consolidate higher interest bills¹

Pay for large expenses

Cover education costs

Make home improvements

Fees and closing costs

$0
application fees²

$0
closing costs on HELOCs up to $1,000,000²

$0
annual fee²

Rate discounts

Rate discount when you set up automatic payments

0.25% rate discount³
When you set up automatic payments (at or prior to account opening) and your monthly payment is automatically deducted from your Bank of America checking or savings account (does not apply to Bill Pay service).

Rate discount at account open

0.10% - 1.50% rate discount³
Receive 0.10% for every $10,000 initially withdrawn at account opening (up to 1.50% for initial draws of $150,000 or more) and maintained for at least the first 3 billing cycles (less any required principal payments).

Benefits and features

Financial flexibility
Use your funds for home improvements, debt consolidation,¹ college tuition, and more.

Potential tax savings
The interest may be tax deductible; please consult your tax advisor.

Ready to get started?
Apply today or speak with a lending specialist

Apply now Call 1.800.593.7306

1

The relative benefits of a loan for debt consolidation depend on your individual circumstances. For example, you may realize interest payment savings by making monthly payments towards the new, lower interest rate loan in an amount equal to or greater than what was previously paid towards the higher rate debt(s) being consolidated.

2

You are invited to apply for a Home Equity Line of Credit (HELOC). This is not a commitment to lend; you must submit additional information for review and approval. Rate(s) and Annual Percentage Rate(s) (“APR(s)”) are for illustrative purposes only and are subject to change without notice. This invitation to apply is available for named recipient (and co-borrower, if any) of this material only, for new applications submitted between 1/1/2025 and 4/30/2025. Bank of America may discontinue Introductory Rate Home Equity Line of Credit offers without notice, regardless of originally-advertised offer period dates.

APR During the Introductory Period: The variable Introductory APR is based upon The Wall Street Journal Prime Rate (“Prime”) minus a discount. Prime may change at any time and is subject to change without notice. If Prime increases or decreases during the Introductory Period, the variable Introductory APR and minimum required payment will correspondingly change. The Introductory Period begins on the date of account opening. No client or other discounts are available during the Introductory Period.

APR After the Introductory Period: After the Introductory Period ends, any and all remaining balances will automatically convert to the variable APR per the terms of the HELOC agreement. The variable APR is based on Prime plus a margin, and will vary with Prime. Your APR will not exceed 24% or go below 1.99% at any time during the term of your account. Sample APR assumes a new $100,000 HELOC in second lien position with a combined loan-to-value (CLTV) ratio of up to 70% on a single-family detached primary residence and a borrower with excellent credit. APR may vary based on initial draw, actual CLTV, property value, property location, line amount and other factors. The term of a HELOC is 30 years: 10-year draw period, 20-year repayment period. Property insurance is always required and flood insurance is required where necessary. Certain property types are not eligible collateral. The variable minimum monthly payment will be an amount sufficient to repay the outstanding balance in principal and interest payments over the remaining term at the applicable APR, subject to a minimum payment of at least $100. The minimum line amount is generally $25,000, but lines as low as $15,000 are available in certain locations. The maximum line amount is generally $1,000,000, but may be $500,000 in certain locations. Bank of America pays all closing costs on lines up to and including $1,000,000. If you terminate your account within 36 months of opening it, you will be required to pay an Early Closure Fee of $450. The Early Closure Fee does not apply for accounts with a maximum line amount less than $25,000 or for properties located in Maryland.

Additional Information for HELOCs in Texas subject to Section 50(a)(6) of the Texas Constitution: Early Closure Fee does not apply. The minimum advance is $4,000, maximum CLTV is typically 80% and maximum LTV is typically 80%. Access to the HELOC account using an ATM card or other access cards is not allowed.

3

The following discounts are available on a new home equity line of credit (HELOC): (1) an “auto pay” discount of 0.25% for setting up automatic payment (at or prior to HELOC account opening) and maintaining such automatic payments from an eligible Bank of America deposit account; (2) an “initial draw” discount of 0.10% for every $10,000 initially withdrawn at account opening (up to 1.50% for initial draws of $150,000 or more). This initial draw minimum balance must be maintained for at least the first 3 billing cycles (less any required principal payments); and (3) a 0.25% discount for HELOCs in first lien position at account opening. These discounts are not available during the Introductory Period of any Introductory Rate offer. The advertised APR after the Introductory Period includes the auto pay discount and the initial draw discount based on a $60,000 assumed initial draw.

Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice.

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