Bank of America Mortgage Rates
Please find below 2 mortgage rates offered by Bank of America. Use the filters to refine or expand your mortgage rate search.
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BANK OF AMERICA MORTGAGE RATE REVIEWS
I have been a member of BOA for about 3 years now. I have a savings account and a mortgage with them. They are very friendly, and their loan originators are very knowledgeable. They keep in contact with you and help you each step of the way when it comes to getting a loan. I even was given the opportunity to lower my rate by paying off my original loan with a home equity loan at a stunning 3% with no closing costs. I have saved a great deal of time and stress by having been a member of this bank. The tellers are very nice and can easily process any need that I have.… read more
I only gave them one start because I had to. I wish there was an option for no stars. This bank is corrupt. There's no polite way to say it. Our mortgage was bought out from Country Wide, and had we known this would have happened, we never would have bought the home. During the economic crisis in 07-08, we got a few months behind on our mortgage. We stayed in contact, calling every week. We were told repeatedly that everything was ok, and that the bank had approved an agreement that would allow us to add the payment to the end of the loan. We kept calling, and tried to make payments. The bank REFUSED our payment, (claiming that they couldn't accept anything until the agreement was finalized, but again, telling us not to worry, after all, it was already approved.) About three months later, we received a denial on the agreement, and the banks reason was: (get ready to laugh), we made too much money. We were actually able to hold up our end of the agreement, but... we made too much money for them to give us one. I had seen these sorts of things on the news, and you never believe the people making these claims, but... its true. It happened to me. This bank should be closed down for fraudulent practices.… read more
We refinanced several years back. BOA was very easy to work with, the necessary paperwork and application forms were straightforward and easy to fill out. The application writer was good to work with and she kept us informed of the entire process throughout and until closing. The appraisal went well and BOA was able to find us a local appraiser quickly. Everyone involved was punctual and followed through on all their promises. On the several occasions we've had to contact BOA Mortgage Department, they have been very helpful and answered all of our questions satisfactorily. BOA even went as far as reviewing our mortgage and finding us a way to save quite a nice sum of money every month. I would recommend them to friends and family.… read more
I didn't start with Bank of America. They bought my mortgage. First I was unhappy to change the way I paid but it turned out to be much easier. It was easy to set up a direct deposit and I can pay off my mortgage early. They include a few tools to see how much faster you can pay it off with different methods like biweekly payments or additional payments. You can also pay a little more on principle or escrow online. They also have a calendar that shows when you are due and where late charges come into play.
The thing I use the most though is the iPhone app where you can pay your mortgage on the phone so I don't even have to log into the computer. All in all, it's not bad. They are a few things I wish they had though like an auto pay feature but I am not sure I have heard of any banks offering that.
Also, if you have an escrow and it goes over the amount authorized there is no option to just put that money on the principle. They end up sending you a check at the end of the year and you have to go cash it then bring it back to them. It’s kind of annoying but only happens once a year.… read more
Having had a very bad experience with Bank of America through their credit card department, I was not very happy when I found out that my mortgage had been bought by them. Number one, I was very hesitant to set up payments with them and, number two, we had not had very good experiences talking to customer service before. When I called to set up out automatic payments, the agent on the other line was very nice and knowledgeable. The agent assured me that they would draft the payments on the day I set up and if it was different to just call them. The process to set up automatic payments was not hard but a little time consuming. I have had to call into the mortgages department several times in the three years they have been servicing our loan and each time I have been impressed with the service I got. The mortgage department has definitely saved their reputation with me.… read more
I used to be a B of A customer. I'm glad that I'm not any longer. I had nothing but trouble from them the entire time I was a customer there. There was an issue with my mortgage that involved me having to drive four hours away, on the first of every month, to make my payment in person. They took six months to figure that nonsense out before they finally let me make my payments online again. There is no physical location closer to me than that and that made them a trouble to me as well. The employees do not care about the customers or about how they are treated. I do not recommend them and I would like to say that I'm very happy with my new bank.… read more
My husband and I have been with Bank of America for over two years now. When we refinanced our house, our mortgage was purchased by Bank of America. This financial institution was not our choice. We had our mortgage with Wells Fargo Bank when we first bought our house in 2008, and we were very happy with them. Bank of America has taken every opportunity to nickel and dime us. For instance, they charge us to make payments online, and they charge us a $10 fee to pay over the phone. It is difficult to work with the customer service representatives because not all of them know what they are doing. One positive aspect of Bank of America is they will work with people if they do fall behind on the mortgage. Overall, this is not the best bank to take a mortgage for you house from.… read more
I've been a customer of Bank of America for approximately 8 years, after they purchased my mortgage from a different mortgage company. I wasn't pleased when my loan was first sold to them as I spent a great deal of time being transferred from one department/person to another. Over the years I have requested many times to stop paper communication, and every time the representative states it will be taken care of, but last week I received a paper statement again. At the beginning of November 2012 I contacted Bank of America and spoke with two different people regarding an early payment I made, and was told there was no record of the payment and the confirmation number I had wouldn't help them. 3 days later I received a letter in the mail stating they attempted to contact me to confirm that I wanted to make an extra payment, but cancelled it because they couldn't reach me. It's frustrating dealing with a company that doesn't train their reps on where/how to look for information. I do enjoy their website though. It is user friendly. It is easy to find information and it appears to be up-to-date. Since I don’t want to refinance my mortgage I'll stick it out and hopefully continue to be able to communicate with Bank of America strictly on their website.… read more
My girlfriend and I purchased a house, and as anyone could guess this bank bought the mortgage. Not only have we found out that they impose a fee you if you don't make deposits every single month, but they also ask you literally 20 different times to verify who you are when you try to make one, single transaction online. Today, for example I tried to extract the excess money that was left over in my account (because we pay a small amount over the monthly mortgage cost each month) and transfer it out of their account and into my main bank account. I was asked for my user id, password, city that I was born, they forced me to regurgitate the security code that they sent to my email, then they made me enter not only the card number on the front of the check card, but the security code on the back, and then after all of this, I ended up having to funnel the money over to my credit card at my other bank through BoA's bill pay option just to get my stinking money back. Their nickle and dimming practices are borderline illegal.… read more
I bought a house a few years ago and the best rates I received were through Bank of America. I was instantly pre-approved and got the house in no time! It was very scary to go through the process, but the Mortgage Loan Officer was extremely helpful, courteous, and easily walked me through it. I then signed up for a checking account through them, and I still have a bank account through them. The staff is very helpful. They go way above and beyond to help you with anything. I highly recommend Bank of America for any loan or checking needs.… read more
Bank of America is one of those giant names that you always hear of, but if you’re like me, might never have used. This all changed a few years ago when I refinanced my mortgage. As previously, I went with a local mortgage company who then sold off the note to BOA. This is only my second mortgage (this one and the original one on the house with GE) and I have been very pleased with BOA. Like many people, I have ended up upside down on my loan, but that isn’t BOA’s fault. On the flipside, our township has lowered the taxes, and BOA reevaluated my monthly escrow charges and refunded the extra (and lowered my monthly payment) without any prompting from me.… read more
Bank of America is the ideal company for the average American family. My spouse and I recently had a baby and wanted to build a new home, because at the time we were living in a one bedroom apartment. The home that we wanted to build was way over our price range, so that's when we decided to seek help in Bank of America. They lent us the money to build our home, it was a smooth process, and made us feel at ease with our decision. They were not pushy about the payments, but let us decide when we wanted to pay. We made low monthly payments, and have since paid off our home. I would recommend Bank of America to anyone that is looking for a loan. They are very helpful, you feel safe and secure throughout the entire process, and the customer service is unbeatable.… read more
September 27, 2012
I applied for my first mortgage in 2010. The mortgage officer I spoke with on the phone was very helpful in explaining all of the different terms associated with a mortgage. He gave me all of his contact information and was quick to reply to any small question I had. He was very patient in helping me figure out if a home would be in my budget or not and helped me get prepared for the processing of my mortgage. He referred me to another department and I was also treated very well there. I was given lots of guidance of the type of paperwork I was supposed to submit and she was very patient with me getting it all together. She was very good about getting me prepared for my closing especially making sure I knew how much money to have on hand. Since my closing I've had my mortgage with Bank of America for 2 years. During this time I've called in to see about refinancing, equity, escrow, or changes in my bill and any person I've spoke with is very interested in helping you out and making sure you are in a beneficial position financially.… read more
The first condo that we bought has a mortgage through Bank of America. There have been good times, and times that have not been so good. I wanted to wait to post my review until we had some resolution to our situation, and now that has come to pass. Initially, we bought out condo when the market was going crazy (2007). As a result, we bought much MUCH higher than we should have. Since then, life happened, and we needed to move to something bigger. We put our condo on the market in 2010 and it took nearly 2 years to sell. Now, while we had the mortgage and were living in the condo we had no problems with Bank of America. However, once we tried to sell the condo we ran in to some serious issues. Over the course of 2 years we had 2 people willing to buy our condo above the current market value, but Bank of America was unwilling to do a short sale. Unfortunately, there was no way we could make the monthly payment and there was NO way somebody would be able to pay for the entire mortgage that was left. They seemed unwilling to work with us. We went to a branch to talk to somebody, but the information wasn't passed along to the mortgage department. They were unwilling to work with us until now, and at this time we're working with a representative to complete a final short sale. It has been a long and tiring experience, but I'm sure experiences like this does not lie only with Bank of America. I can't recommend them explicitly, but I wouldn't turn anyone away from using them for their own mortgage.… read more
Applying for a mortgage for the first time was one of the most nerve wracking experiences that I have ever had. However my banker, Tricia at Bank of America made the process as painless as possible. She met with me for over two hours the first time that I went in and explained the whole process to me in great detail from the beginning steps to the day I moved into my new home. I often had questions or concerns throughout the process and she was always available either by phone or email or in person to help me address what ever I was unsure of. She helped me secure all of the necessary paper work and documents that I would need and even got me a great interest rate!!! I know that she was just doing her job, but time and time again I have had great customer service from Bank of America employees. They always go above and beyond to make you feel as though your goals are their goals too. Great bank!… read more
I have a mortgage through BoA and the process itself went very smooth. Everyone was very friendly helpful through out the process. I had one loan officer who would call me from his cell phone and that was nice not to see a bunch of strange numbers coming up from my caller ID. It also made it nice to be able to get a hold of him almost at any time to answer all of my (sometimes silly) questions. The only complaint I would have is that there are not many physical brick and mortar branches in my particular area. I had to drive 1 hour round trip a few times to physically sign something, or have something faxed. Minor things really. Buying a second home was less stressful thanks to BoA.… read more
I have been a customer with Bank of America for many years. Bank of America approved me for my first credit card when no one else would give me the time of day. They are the reason I have such good credit today.
I had my mortgage with a different bank but their interest rate was so high so about 5 years ago, I decided to refinance with Bank of America since they have been so good in the past. Interest rates were much lower and the customer service was much better. My bills come extra early to remind me to pay them and they give you a 16 day grace period after your bill is due. I highly recommend Bank of America.… read more
I have a mortgage with this bank. The mortgage started off at another bank but was switched to hear shortly after it began. I have had a few issues with receiving my payment coupons in the mail. I am happy to say that every time I call and complain about this issue they fix it and let me pay over the phone with no extra fees. I don't like how they have no convenient locations around me so I can pay my bill in person but the ease of doing it over the phone when there is a problem makes up for that.… read more
I decided on refinancing with Bank of America, several years ago, due to their low interest rate at the time. The mortgage lender that I was assigned worked hard to make sure that all my needs were taken care of. He carefully reviewed my personal situation and chose a mortgage plan that would work best for my family. He even showed up to the title company, at closing, to make sure that everything went through smoothly.
I have not needed to call customer service for anything. I just get my monthly statement, pay it, and move on. So far so good.… read more
I am a former LPI Specialist from the bank's mortgage/insurance tracking. These banksters are complete scam artists. Check your RSS feed for news about "Force Placed Insurance" and you'll see what I mean.
Also, please check out my whistleblower blogs detailing snippets of exactly how Bank of America and Countrywide knowingly hid banking information, and what I had to go through to get the information out to the proper people, such as the SEC, 50 State Attorneys General, and the New York Department of Financial Services. Google "Brian Penny Bank of America" to learn more about how millions of car and homeowners have been getting ripped off for decades for literally trillions of dollars by the financial industries.… read more
My mortgage is through Bank of America and has been for the last four years. I've been very pleased with the company so far. The customer service department has always been helpful, friendly and able to provide me with the information I need. I refinanced through B of A two years ago to take advantage of the lower interest rates. The process went very smoothly and I was kept up to date on all developments. The bank even called me a couple of times to check and make sure I'd received paperwork and to ask if I had any questions. Overall, Bank of America has been a great company to work with when it comes to mortgages.… read more
Bank of America has been a great bank for us to have our mortgage with as well as a credit card and a bank account. Although when we tried to refinance and the application process was a bit long with all of the paperwork and the closing costs that were hidden in various other fees made it apparent that the work involved in refinancing with Bank of America was not worth it, we are happy with the fact they accepted our decision to not follow through with refinancing and did not bother us about it. We have had no problems with them in regards to our credit card and bank account, and the online banking is convenient for us to pay our mortgage online in just a few simple steps, even from a different account.… read more
I have my mortgage through Bank of America and the customer service and mobile banking cannot be beat. The representatives are always eager to help and often suggestions for various products that make my financial life a lot simpler. I frequently transfer money, check account balances and deposit checks without visiting a teller. Their mobile app is so convenient. Two thumbs up. Finally their website makes it very easy to download transactions, review previous statements and get detailed transaction information. I highly recommend Bank of America for your mortgage and other financial needs. If you are looking for knowledgeable reps, quality customer service and technically innovative banking look no further than Bank of America.… read more
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In the event that in a given week, for this product, there were multiple applicable rates in our database based on different criteria, the above graph reflects the lowest interest rate recorded. Before submitting an application, always verify with the issuing institution (i.e. bank, credit union, other lender) the rates, fees, and all terms and conditions accompanying the application.