Bank of America has launched a very interesting offer for those who dream of buying the home of their dreams in the United States. According to recent data, the institution is presenting unique conditions that make it the best option for those seeking smart financing.
During the first quarter of 2025, mortgage applications at Bank of America increased by 80%, a strong surge above the seasonal increase (60%). This figure clearly shows that many buyers see a real opportunity, as interest rates and the housing supply have improved.
Bank of America helps you achieve your dream: this mortgage can be yours
Bank of America offers several types of mortgages, but its 30-year fixed-rate mortgage stands out as the perfect one to buy a home now. It has a competitive rate (around 6.7% compared to 7% in 2024) and a stability that allows you to plan long-term payments without surprises.
In addition, it has its line of conventional, FHA, and VA loans, as well as special options like the mortgage for doctors. What makes this Bank of America mortgage unique is that it combines a fixed rate, down payment assistance, and personalized service.
According to Bankrate, the institution receives the highest score (5/5) in affordability, thanks to its assistance programs for families with moderate incomes. With rates slightly below the national average, they require only a 3% down payment on conventional loans, and even less on FHA or VA.
Bank of America doesn't stop there: keep it in mind if you're looking for a home
Additionally, Bank of America offers grants to cover part of the down payment or closing costs, with no repayment required. The "America's Home Grant" and "Down Payment Grant" programs provide up to $7,500 or 3% of the purchase price, depending on the area and eligibility. This applauded innovation allows many clients to achieve homeownership with less financial effort.
Bank of America's conditions are clear; fixed-rate loans ensure steady payments. Adjustable-rate mortgages (ARMs), such as the 5/6m, offer a low initial rate, ideal if you plan to refinance or sell in a few years. For those who want flexibility, ARMs are also backed by strong guarantees.
Commitment: keep competitive rates and a smooth experience
Above other banks, Bank of America stands out for its commitment to the client. It serves more than 69 million clients in the US, with 3,700 branches and digital service, which guarantees easy access and trust. Additionally, the Consumer Lending team, led by Matt Vernon, reinforces its dedication to keep competitive rates and a smooth experience.
This commitment includes responding to the current market. The recent drop in the 10-year bond yield (down to 3.6%) helped reduce mortgages to 6.1% in the fall and place them now at 6.7%. Bank of America, alert to these conditions, encourages its clients to move quickly before rates rise.