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Old March 17th, 2017, 10:25 AM
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Default Agent Resource Center Bank Of America

I want to apply for home Loan in Agent Resource Center of Bank of America so can you please provide me the details of the loan?
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Old March 17th, 2017, 10:25 AM
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Default Re: Agent Resource Center Bank Of America

The Bank of America® Agent Resource Center is your source for keeping up with industry trends and getting the latest information about Bank of America Home Loans products, processes and educational resources.

In addition to this online center, you can always reach out to their local mortgage loan officers, who are dedicated to supporting and building relationships with real estate professionals.

Home Buying

Loans and programs

Bank of America is committed to helping consumers meet all of their financial needs.

Through industry-leading educational resources and access to local mortgage experts, homebuyers can feel confident knowing they're choosing the loan that's right for them, and that they're getting access to the best products and services Bank of America has to offer.

Conforming Loans

Bank of America offers a wide array of conforming fixed- and adjustable-rate mortgage (ARM) products to meet the financing needs of our borrowers.

They offer various fixed and ARM product options that can help their customers achieve homeownership.

Various down payment options

Fixed-rate terms include 15-, 20-, and 30-year options

ARMs have 30-year terms and include 5-, 7- and 10-year fixed-period optionsFootnote 1

Affordable Loan Solution™ Mortgage

This fixed-rate loan for low- and moderate-income borrowers offers a competitive rate and a down payment as low as 3% to help make buying a home more affordable.

It may be a good responsible loan option for qualified homebuyers who don’t have enough savings for a larger down payment.

Here are some highlights of the program:

Competitive rates with a down payment as low as 3%

Mortgage insurance is not required

Homebuyer education may be required for first-time buyers through a HUD-approved counseling provider or Connect to Own®, Bank of America's nationwide network of counselors

Maximum income and loan amount limits apply (varies by location)

FHA and VA Government Loan Programs

Bank of America offers Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) loan programs. These government lending programs—which feature low down payment options—serve a vital role for first-time homebuyers as well as move up buyers seeking low down payment options.

FHA program highlights-

Industry standard credit score requirements

Nontraditional credit

Higher loan-to-value (LTV) ratiosFootnote 3

Nonoccupant co-borrower

Up-front Mortgage Insurance Premium (UFMIP) financed or paid in cash by applicant or seller

Monthly Mortgage Insurance Premium (MIP) required

VA program highlights-

Industry standard credit score requirements

Nontraditional credit

Up to 100% LTV ratioFootnote 4

No mortgage insurance (While VA loans do not have mortgage insurance, the borrower may be required to pay a VA funding Fee. This fee is typically financed into the loan amount.)

Customer service: 00 1 315-724-4022
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