[Music in background throughout]
[Lifestyle footage of a home, unlocking a door and a family together in the living room]
When you buy a home, you're opening the door to a new place. A place of comfort and security where memories are made.
[People looking at homes, moving into a new home and speaking with an advisor]
It's a deeply personal decision as well as a financial one.
That's why we offer exclusive service and expertise to our most valued clients, with Bank of America® Home Financing Solutions.
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A comprehensive approach
We'll work closely with you to understand your goals, so we can provide a comprehensive financing approach designed to meet your needs.
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Flexible payment options
You can tap into flexible options for your down payment and monthly installments.
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Financing options also include:
● Mortgage 100® and Parent Power® programs
● Loans for eligible medical doctors, residents or fellows
● Custom Residential Real Estate
Our financing options can be tailored to work with your overall financial strategy.
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Track your application with Home Loan Navigator®
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Simplify mortgage payments with PayPlan
[Images of couples looking online together]
You can use our online tools to keep track of everything with ease…
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Bank of America Preferred Rewards
Access to Mortgage Interest Rate Discounts
or Reduced Origination Fees
[Two people shaking hands]
and access enhanced discounts as a Preferred Rewards member.
[Families enjoying their homes together]
Whether you're upsizing, downsizing, or helping a loved one put down roots of their own, we’re here to give you support as you open a new door.
What would you like the power to do?®
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Merrill® a Bank of America Company logo
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Bank of America® logo
Talk to an advisor to learn more.
Disclosure:
Merrill
You are invited to apply. Your receipt of this material does not mean you have been pre-qualified or pre-approved for any product or service offered by Bank of America. This is not a commitment to lend; you must submit additional information for review and approval. If you are refinancing to lower your monthly payment or change from a variable-rate to a fixed-rate loan, you should carefully consider the potential increase in the total number of monthly payments and/or the total interest charges paid over the full term of the new refinance loan – especially for borrowers who currently have loan terms less than 30 years.
Mortgage 100® and Parent Power® programs require the pledge of eligible diverse securities owned by an individual and maintained in a Merrill Lynch, Pierce, Fenner & Smith Incorporated (Member, Securities Investor Protection Corporation [SIPC]) brokerage account. These programs may not be suitable for everyone, and a default on your mortgage could result in the loss of both your home and the securities pledged. Should the value of the securities pledged as collateral decrease below a certain level (as specified within the loan documents), the deposit of additional assets and/or liquidation of assets may be required. Merrill may liquidate some or all of the securities in the account without contacting you. You are not entitled to an extension of time to meet a collateral call or choose which securities in your account are sold to meet the collateral call. Liquidation may result in adverse tax consequences. Mortgage interest may not be deductible if tax-exempt obligations are pledged as additional collateral, consult your tax advisor. Trading within the brokerage account for the 100% financing programs is subject to restrictions.
An applicant must have, or open prior to closing, a checking or savings account with Bank of America. Applicants with an existing account with Merrill or Bank of America Private Bank prior to application also satisfy this requirement. Eligible medical professionals include: (1) medical doctors who are actively practicing, (MD, DDS, DMD, OD, DPM, DO), (2) medical fellows and residents who are currently employed, in residency/fellowship, or (3) for salaried employees only: medical students and medical doctors who are about to begin their new employment/residency or fellowship within 90 days of closing. Those employed in research or as professors are not eligible. For qualified borrowers with excellent credit. An applicant must have PITIA (Principal, Interest, Taxes, Insurance, Assessments) reserves of 4 - 12 months are required, depending on loan amount.
If applicant’s employment does not commence until after closing, in addition to the minimum cash reserves required, sufficient reserves to handle all debt obligations between closing and employment start date up to an additional 90 days must be verified.
Additional documentation is required.
Borrower-paid attorney fees apply. Minimum borrower liquidity of $3,000,000 or $5,000,000 net worth (including primary residence), and $1,000,000 post-closing liquidity. Other restrictions apply, ask for details. Custom residential real estate financing may involve special risks and is not suitable for everyone. Please obtain advice from your third-party legal, tax, insurance and accounting advisors before changing or implementing any financial, tax or estate planning strategy and to determine what custom residential real estate solution might be right for you.
Preferred Rewards Program Eligibility. To enroll in the Bank of America Preferred Rewards program you must have an active, eligible personal checking account with Bank of America® and maintain the balance required for one of the balance tiers in your combined qualifying Bank of America deposit accounts (such as checking, savings, certificate of deposit) and/or your Merrill investment accounts (such as Cash Management Accounts, 529 Plans). You can satisfy the combined balance requirement for enrollment with either:
- a three-month combined average daily balance in your qualifying deposit and investment accounts or
- a current combined balance, provided that you enroll at the time you open your first eligible personal checking account and satisfy the balance requirement at the end of at least one day within 30 days of opening that account.
You must have a qualifying balance of at least $20,000 for the Gold tier, $50,000 for the Platinum tier, $100,000 for the Platinum Honors tier, $1,000,000 for the Diamond tier and $10,000,000 for the Diamond Honors tier. Bank of America Private Bank clients qualify to enroll in the Diamond tier, and may qualify for the Diamond Honors tier based on their qualifying Bank of America, Merrill, and Private Bank balances. Refer to your Personal Schedule of Fees for details on accounts that qualify towards the combined balance calculation and receive program benefits, available at bankofamerica.com/fees. Eligibility to enroll is generally available three or more business days after the end of the calendar month in which you satisfy the requirements. Benefits become effective within 30 days of your enrollment, or for new accounts within 30 days of account opening, unless we indicate otherwise. Certain benefits are also available without enrolling in Preferred Rewards if you satisfy balance and other requirements. For details on Bank of America employee qualification requirements, please visit the Employee Financial Services intranet site. Employees of companies participating in the Bank of America Employee Banking and Investing Program may be eligible to enroll on customized terms. Please visit https://promo.bankofamerica.com/cebi-disclosures for details.
Note: Merrill financial advisors don’t offer or provide recommendations regarding customized lending products from Bank of America, N.A. Your advisor will be happy to refer you to a Bank of America credit specialist, who can work with you regarding options to address your credit needs.
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.
Investment products:
Are Not FDIC Insured | Are Not Bank Guaranteed | May Lose Value |
Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”) makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation (“BofA Corp.”). MLPF&S is a registered broker-dealer, registered investment adviser, Member SIPC and a wholly owned subsidiary of BofA Corp.
© 2023 Bank of America Corporation. All rights reserved. | MAP5247399 | 01/2023
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Equal Housing Lender.
