Details on the Bank of America Home Loans – the Monthly Amortization
BANK OF AMERICA HOME LOANS – Here is a guide on the estimated monthly payment under the housing loan offers of the Bank of America.
Truth be told that two (2) of the common goals of most people is a house and a car. The former can be a bungalow house and lot, an apartment unit, a townhouse, or can start with buying a vacant lot where the “dream house” can be built.
Having your own residential property regardless of the lot area size is something to be proud of. It is worth it whatever struggle it will take as it does not only secure you but as well as your family. Are you one of those who are planning or desiring to achieve the dream soon?
Don’t worry if you can’t afford to do it in cash yet – there are several options that you can turn to like applying for a bank loan. One of those with excellent offers is the Bank of America.
There are several Bank of America home loans that you can choose from based on your need. You may apply for a mortgage, a refinancing of a house purchase, or funds for home equity. In this article, we will focus on mortgage purposes.
According to the bank, under the said home loan offer, the maximum loan term is 30 years. Here are the rates below based on the loan tenor:
- 30-year fixed
- Rate: 2.875%
- Annual Percentage Rate: 3.041%
- 15-year fixed
- Rate: 2.125%
- APR: 2.465%
- 5y/6m ARM variable
- Rate: 2.125%
- APR: 2.714%
Even before applying for any of the Bank of America Housing Loans, you may check on the estimate of your monthly amortization. To do it, you will need to provide information about the purchase price, your preferred downpayment, and your state’s ZIP code. For the online calculator, you may visit – www.bankofamerica.com.
Aside from its housing loan offers, the bank also has loans for vehicles. You may also visit – Bank of America Auto Loan: How To Apply for this Car Loan Offer