Bank of America Home Financing Solutions
Financing a home can impact you personally as much as it does financially. Building roots, supporting family, or securing your future—whatever the goal, your Merrill advisor and Bank of America lending specialist can provide the advice and guidance you need. You get a mortgage solution designed to work with your overall financial strategy and a mortgage process that’s managed from beginning to end by a Bank of America Wealth Management Lending Officer.
The right mortgage can be a cornerstone of successfully building and managing your wealth. We can help you find the right mortgage that is appropriate for your situation to pursue your homeownership goals or a home equity line of credit to help pay for home improvements, college tuition and other important purchases.
Access a suite of Bank of America home financing solutions
As we evaluate your mortgage options, you’ll benefit from having access to a wide range of financing solutions from Bank of America, including fixed-rate and adjustable-rate mortgages.1 You can also expect:
- Flexible payment options
- Competitive rates
- Loan amounts over $3 million for qualified buyers2
- Flexible down payment and 100% home financing options with pledged securities programs3
- Online tools that make it easy for you to stay up to date on your loan application—and to manage your to-do list and your documents electronically
Managing both sides of your balance sheet
Your advisor takes into account your full financial picture, including your investments, savings and other assets and liabilities. Your personalized financial strategy is carefully considered to help you make informed decisions in pursuing what’s important and appropriate for you.
Working alongside a Bank of America Wealth Management Lending Officer, we can help you evaluate your home financing options in the context of goals such as:
- Increasing your monthly cash flow
- Stabilizing your mortgage payments
- Complementing your investment strategies
- Lowering your down payment
- Buying a vacation home or investment property
- A way to potentially help a family member with a home purchase
Your relationship with us can be even more rewarding with preferred pricing. Preferred Rewards for Wealth Management is a rewards program that can offer you access to a range of banking benefits, solutions and services available from Bank of America - including mortgage and home equity benefits.
Also, your advisor provides you with access to flexible terms and innovative solutions from Bank of America that align with your cash flow needs and long-term goals. Together, we can answer questions you may have about refinancing your home, purchasing a new home—or even helping family members pursue their homeownership goals.
Contact a financial advisor for a complimentary consultation to help you find the right mortgage to complement your investment strategy and pursue your financial goals that are in your best interest.
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.
Minimum down payment requirements vary by property type and location. Loan amount, interest-only payment option, loan-to-value percentage, property and/or occupancy type may require a higher level of reserves and/or post-closing liquidity. For loan amounts greater than $3 million, certain minimum reserve amounts are required to be held in a Bank of America and/or its affiliates (Merrill and/or Bank of America Private Bank) account. Two separate full appraisals may be required. Excellent credit required, including proof of recent consistent housing payment history. Not available on all loan programs. Other restrictions apply; ask for details.
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 Lynch 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.
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.