Guide on the Bank of America Home Loan Requirements for Application
BANK OF AMERICA HOME LOAN – Here is a guide on the requirements to prepare in applying for a home loan offer of the Bank of America.
One of the best purchases you can ever make not only for you but as well as for your family is buying a house. However, there is no denying that a residential property purchase requires a huge amount of money. This is true even in homes that are sold in an installment basis – you will need a huge amount for the home equity or the downpayment.
Meanwhile, nowadays, people have a lot of turn tos if you are really determined to buy your own house. If you cannot pay for it in full now, you may seek some financial assistance to fulfill your goal through a bank loan. There are also a lot of lending companies that offer housing loans but a lot of people prefer to borrow money from banks.
The Bank of America is one of those that have the said offer. In fact, it has opened its offer to three (3) major purposes.
The Bank of America Home Loan is open for application for the purpose of mortgage for the financing of a new home, refinancing of an existing mortgage, and financing the payment of a home equity.
The Bank of America boasts its offer which has no application fees, no closing costs, and no annual fee for lines of credit up to $1,000,000.00. Furthermore, there is no longer a need for the conversion of a variable-rate balance to a Fixed-Rate loan option.
According to the bank, under the Bank of America Home Loan, the borrower will be the one to decide on when and how much of his or her credit limit would be used. The transaction can be done through the online banking, a phone call, at a financial center of the bank, or with no-access-fee checks.
The application for this loan offer also comes with convenience as it can be done online. Feel free to visit the official website of the bank – Bank of America.