Important notice:

You are now leaving a Bank of America website.

By clicking Continue you will be taken to a website that is not affiliated with Bank of America and may offer a different privacy policy and level of security. Bank of America is not responsible for and does not endorse, guarantee or monitor content availability, viewpoints, products or services that are offered or expressed on other websites. Please refer to the website’s posted privacy terms and use.

You can click the Continue button to proceed or the Cancel button to return to the previous page.

Continue Cancel

Advertising Practices

We strive to provide you with information about products and services you might find interesting and useful. Relationship-based ads and online behavioral advertising help us do that.

Bank of America participates in the Digital Advertising Alliance ("DAA") self-regulatory Principles for Online Behavioral Advertising and uses the Advertising Options Icon on our behavioral ads on non-affiliated third-party sites (excluding ads appearing on platforms that do not accept the icon). Ads served on our behalf by these companies do not contain unencrypted personal information and we limit the use of personal information by companies that serve our ads. To learn more about ad choices, or to opt out of interest-based advertising with non-affiliated third-party sites, visit YourAdChoices powered by the Digital Advertising Alliance or through the Network Advertising Initiative's Opt-Out Tool. You may also visit the individual sites for additional information on their data and privacy practices and opt-out options.

To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review the Bank of America Online Privacy Notice and our Online Privacy FAQs.

content

additional copy

Skip to content

En español

Getting started
Homebuying essentials
Home loan options
Explore refinancing
Leverage your home equity
Manage your loan

Getting started
Homebuying essentials
Home loan options
Explore refinancing
Leverage your home equity
Manage your loan

En español

Unlock the possibilities with a home equity line of credit (HELOC)

Borrow money against the equity you’ve built up in your home to pay for home improvements, consolidate debt¹ or fund a major purchase.

Interest rate discounts

We offer rate discounts of 0.125% for automatic monthly payments³, up to 1.50% for initial withdrawals³ and up to 0.625% for BofA Rewards members⁴.

Fixed rate loan options

For predictable payments and an interest rate that will stay the same for the entire term of the loan.

$0 fees

There are no closing costs, no application fees, no annual fees and no fees to use the funds.²

Fast and flexible access to funds

A HELOC is a fast and convenient way to access funds.

Work with a specialist

Our experienced lending specialists will help you every step of the way.

Get a home equity line of credit

Introductory variable rate

variable APR¹ for first

6 months

Variable rate

Variable APR²; includes discounts³

Rate 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:

Check for special introductory rate offers

Knowing your home’s value can help you plan for the future

Use our estimator to see how much your home is worth.

Cash-out refinance or home equity line of credit?

They both have pros and cons. Learn the key differences and how they can impact your situation.

Get the answers

A helpful tool for exploring a HELOC

HELOC Calculator

Understand the power of your home's equity

Transcript

What can a HELOC do for you?

Learn how our HELOC works and how it can help you access cash for the things you need.

Get the answers

Transcript

Learn about our fixed-rate loan option

See how you can convert variable rate balances to fixed rate loans with consistent payments.

Watch the video

Transcript

Is debt consolidation right for you?

Save money, simplify payments and pay off debt sooner by consolidating your debt.

Watch the video

TIP: While you may have a lot of equity in your home and qualify for a generous line of credit, you should still draw only what you need and can afford to pay.

Questions?

Call to speak with a lending specialist

Call 800-593-7306

Book an appointment with one of our specialists

You are invited to apply. Your receipt of this material does not mean you have been prequalified or preapproved for any product or service we offer. This is not a commitment to lend; you must submit additional information for review and approval.

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.

1

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.

Sample variable APR is based on The Wall Street Journal Prime Rate (“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. Prime may change at any time and is subject to change without notice. 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/condominium} 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. Sample APR is also based on our state pricing for the property address associated with client’s Bank of America mortgage or HELOC; for clients without a Bank of America mortgage or HELOC, sample APR is based on client’s mailing address state on file. 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.

2

3

The following discounts are available on a new home equity line of credit (HELOC): (1) an “auto pay” discount of 0.125% 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. The advertised APR and combined discount amount include the auto pay discount, any applicable Preferred Rewards discount and the initial draw discount based on a $60,000 assumed initial draw.

3

4

BofA Rewards™ Home Equity Line of Credit. Home Equity Line of Credit (HELOC) interest rate discounts are offered to clients who are enrolled or are eligible to enroll in BofA Rewards, based on their rewards tier at the submittal of home equity application (for co-borrowers, at least one applicant must be enrolled or eligible to enroll). Amount of discount (0.00% for Member tier, 0.250% for Preferred Plus tier, 0.375% for Preferred Honors tier, and 0.625% for Premier tier) is based on the rewards tier at the submittal of home equity application and is not subject to adjustment after the application is submitted. For further details, visit the BofA Rewards section of the Personal Schedule of Fees. Benefit is non-transferable. BofA Rewards home equity benefit can be combined with certain other home equity interest rate discounts. Credit and collateral subject to approval. Terms and conditions apply. Programs, rates, terms and conditions subject to change without notice.

BofA Rewards™ Eligibility. Customers can enroll and maintain their membership in BofA RewardsTM if they have an open, qualifying Bank of America® checking account. BofA Rewards tiers are based on each customer’s combined average balance in qualifying deposit and investment accounts. The minimum balance for each tier is: Member, no minimum balance; Preferred Plus, $30,000; Preferred Honors, $100,000; and Premier, $1,000,000. When you enroll, you’ll be placed in the appropriate tier for your combined average balance and then moved to the highest tier you’re eligible for based on one of the following:

for the 30 calendar days following your first enrollment, the combined end-of-day collected balance of your qualifying accounts (“Daily Balance”), provided that your Daily Balance remains above the required amount for a minimum of three business days; or
subsequently, the combined average balance of your qualifying accounts calculated on the third business day of each month.
Eligible customers will be moved to the higher tier within 3 business days. New tier benefits may take up to 30 days to become effective. For full terms, including qualifying accounts and the method of calculation of average balances, refer to your Personal Schedule of Fees.

Additional Eligibility. Employees and retirees of Bank of America may be eligible for BofA Rewards membership on customized terms. For details, please call Employee Financial Services or refer to the Bank of America intranet site. Bank of America Private Bank clients qualify to enroll in the Premier tier regardless of balances. Employees of companies participating in the Bank of America Employee Banking and Investing Program may be eligible for BofA Rewards on customized terms. Refer to CEBI Program for details.

4

Banking, mortgage and home equity products offered by Bank of America, N.A., and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation. Equal Housing Lender. 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.

Bank of America and the Bank of America logo are registered trademarks of Bank of America Corporation.

| Privacy | Security | Advertising Practices | Children's Privacy | Your Privacy Choices | Browse with Specialist
Bank of America, N.A. Member FDIC. Equal Housing Lender

© Bank of America Corporation. All rights reserved.

MAP8858561–10102027 | LP-03-26-0183.A5