Helpful resources to keep you moving forward

Use our digital tools and guidance to manage your loan and explore new possibilities.

Five steps toward your new home loan

Here’s what you can expect as you move through the application process and into repayment. We’re here to help you at every stage.

Step 1: Application & Review
Step 2: Initial Credit Decision
Step 3: Closing
Step 4: Servicing
Step 5: First Payment

Step 1: Application & Review

During this stage, you’ll complete your application, and we’ll gather essential information and documentation.

You’ll work with your Lending Specialist to identify the best loan product for you and submit an application. We’ll gather required documentation and begin a review to determine whether we can approve your loan.

Step 2: Initial Credit Decision

During this stage, you'll be introduced to your lending team, who will work with you to keep your loan moving forward.

We'll provide you with a Notice of Initial Credit Decision and your loan conditions. This notice will identify any remaining documentation we'll need to complete your loan.

Illustration of mobile device with new message from lending specialist

Step 3: Closing

During this stage, all reviews are complete, and it's time to schedule your closing.

We'll provide you with a Closing Disclosure showing the terms and charges for the loan, and prepare you for your signing.

Illustration of calendar date marked “Signing Day”

Step 4: Servicing

During this stage, you'll be able to connect to Mobile and Online Banking¹ for loan information and repayment tools.

You can use online tools to view account information, including escrow details, and also manage your payments with ease.

Illustration of tablet device with loan details

Step 5: First Payment

During this stage, you'll be able to choose a payment option and learn about the payment process as you get ready to receive your first monthly statement.

You can use PayPlan to make convenient automatic monthly payments, choose another payment option through Bank of America’s Mobile or Online Banking, or make payments by mail.