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In terms of assets, Bank of America is the second-largest bank holding in the United States. Its services include checking and savings account management, credit cards, auto loans, investing, and home loans.

Bank of America's home loan options include mortgage loans (fixed-rate mortgages, adjustable-rate mortgages, jumbo loans, FHA loans, and VA loans), mortgage refinancing, and home equity loans. 

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The Good

  • Origination Fee Discount
  • Affordable Loan Solution® Mortgage
  • Low Closing Costs
  • Highly-Rated Mobile App

Origination Fee Discount

Clients who are enrolled in or are eligible to enroll in Bank of America's Preferred Rewards program at the time they apply for a new purchase or refinance loan can get a discount on their origination fee. The discount ranges from $200-$600 depending on the rewards tier. 

Affordable Loan Solution® Mortgage 

Bank of America offers a special mortgage for qualified homebuyers with modest incomes who are unable to make a large down payment. The company offers a competitive fixed-rate loan with a down payment as low as 3% and mortgage insurance is not required. 

Low Closing Costs

Bank of America charges closing costs of 3-4 percent of the total loan amount, which is fairly low when compared to closing costs charged by other home loan companies.

Highly-Rated Mobile App

Bank of America offers a highly-rated mobile app that is compatible with Apple, Android, and Windows devices. Borrowers can use this app to view and manage their home loan, as well as access helpful tools and resources.

The Bad

  • Undisclosed Information

Undisclosed Information

Bank of America has not disclosed a minimum credit score requirement on its corporate web site, making it difficult for potential borrowers to have an idea of whether or not they have a good chance of qualifying for a home loan. 

The Bottom Line

Bank of America offers competitive interest rates, low closing costs, and a highly-rated mobile app. Additionally, customers who are enrolled in the company's Preferred Rewards program can benefit from the origination fee discount with a home loans purchase. Our consumer review ratings are mixed, but most customers have positive customer service experiences to report. 

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User Reviews

Star Rating

3.7
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65 Reviews

Review Breakdown

5 star
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3 star
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18%

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Ashley
May 20th, 2019 Pleasant Grove, UT DETAILS
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When we bought our home in Las Vegas we secured our Mortgage rate through Bank of America. We did our research and compared with other Mortgage companies and they were able to give us the best rate for our home. It was a set rate that did not fluctuate and that was important to us with the unstable market at the time in the Las Vegas Area. We were very happy with the Mortgage Officer we worked with at the Charleston Branch in Summerlin.

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Stephanie
May 17th, 2019 Orem, UT DETAILS
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Our current mortgage is through Bank of America. We shopped around quite extensively and they were the ones that could offer us the best rates around. The whole process was great. If you are looking for a good experience and low rates go check them out.

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Dean
May 14th, 2019 Ogden, UT DETAILS
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Our mortgage rate through Bank of America was .5% lower than other mortgage places we looked into. Not only was our rate lower but we have been completely happy with every aspect of dealing with Bank of America. Night and day difference from our previous mortgage provider.

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Jennifer
May 10th, 2019 Ogden, UT DETAILS
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After having a mortgage through a below average mortgage provider, Bank of America was everything we needed and more. The process of obtaining the loan was simple and all of the fees completely made sense due to the helpfulness of the mortgage loan officer. We have now been with them many years and I have always been completely happy.

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Ponch Thompson
February 12th, 2019 South Jordan, UT DETAILS
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Big Bank. Big Fees. Our mortgage rates were nearly a point higher than competitors. 6 month teaser rates were used to hook you out of college, but way to expensive to retain and we opted to refinance.

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Sunny Perry
February 6th, 2019 Springville, UT DETAILS
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Great customer service. Called directly and spoke to a representative to answer my questions.

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Ann Bailey
February 6th, 2019 Lehi, UT DETAILS
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We have had a Mortgage through Bank of America for many years. We have always been pleased with their customer Service. We are happy to stay with them.

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Cori Jacobsen Ollerton
December 12th, 2018 Alpine, UT DETAILS
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We have dealt with Bank of America for years. They are easy to work with and answered all my questions regarding home loans quickly. However, their wait times on the phone can be quite extensive. I used their "call back" service and within 30 minutes I received a call back from them. It was easy and I appreciated not having to wait on the phone. They offered many options for Home Loans. It is worth looking into.

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Shauna Craig
December 6th, 2018 Pleasant Grove, UT DETAILS
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We had a home mortgage with Bank of America and never experienced any problems or issues. Payments were promptly credited and our account was always accurate.

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Shawn
December 5th, 2018 American Fork, UT DETAILS
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We like Bank of America. It’s a well-known name and very trustworthy. Any payments we made and had any questions on were always answered to our satisfaction.

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Anthony Sgambati
December 3rd, 2018 Rocklin, CA DETAILS
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We have our home loan through B of A. For something this important, you have to work with a company you trust. Bank of America has been amazing throughout the whole process. Professional, helpful, and supportive.

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Kristie Sgambati
November 30th, 2018 Rocklin, CA DETAILS
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We attained a home loan with Bank of America and have been very happy with their services. When we have to work with customer service, they are respectful and efficient at solving and issues or concerns we have.

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Rachel Spielberger
November 19th, 2018 Mesa, AZ DETAILS
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They are always friendly, I have not had any problems with this bank yet. it is easy to get any problems fixed, or take out any loans if need be.

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Rischelle Mikkelson
November 14th, 2018 American Fork, UT DETAILS
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Our mortgage was sold to Bank of America. I was able to quickly set up auto pay which was important to me. The transition was seem less.

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Melanie E
September 17th, 2018 Draper, UT

I have had a home loan for 13 years with B of A. They are professional and easy to work with.

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Benjamin Taliulu
September 14th, 2018 Salt Lake City, UT

I was a paying customer for years, had my mortgage and a personal credit card through them. Never late and always paid in full. I ended up being late one time and was charged a late fee. When I called customer service they didn’t seem to care my past history with them was excellent. They would not take the late charge off. After arguing with the rep for 5min I gave up, paid my bill in full and closed my account. Have not been a customer since.

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Derek Scoville
August 30th, 2018 Pleasant Grove, UT

My mortgage was sold to Bank of America. As soon as they got my loan, I got an email from them welcoming me, and giving instructions on how to set up online payments, etc. It didn't feel like I was just another customer.

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Leslie
August 29th, 2018 West Jordan, UT

Bank of America have me an excellent rate and I’ve always received good service from them. Their website is easy to navigate and I’ve never had any problems.

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Thomas Hullinger
August 24th, 2018 Pleasant Grove, UT DETAILS
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Great bank, with everything one needs to do with banking. They have easy to use features, but do not have a very good presence where I live. Home mortgages seem to be their specialty and they do a very good job at it.

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Bella Houtz
August 21st, 2018 South Jordan, UT

I bank with Bank of America. The first couple mortgages I did I used mortgage companies. The last one I saw a sign in the bank and I talk to them. It was a great experience there a very personable I answered all my questions life. I would strongly recommend them.

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Cheryl Linden
August 1st, 2018 Cave Creek, AZ

lots of fees; easy accessibility; plenty of atms

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Mary Walker
July 23rd, 2018 Georgetown, KY DETAILS
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They were great to work with. No problems.

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Sharon Reed
July 19th, 2018 Gilbert, AZ

Great easy online payment options. Easy working to set up the loan.

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Shane Rodney
July 19th, 2018 Mesa, AZ

Super easy process to apply and get qualified. Nice to have access to all account information is a super easy to use online platform.

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Shelene Cooley
July 11th, 2018 Gilbert, AZ

Supe reasy to apply. Customer service was good throughout the entire process. Never have had an issue. Very happy with the rate.

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Jess Root
July 9th, 2018 Gilbert, AZ

We had a home loan and home equity loan through Bank of America. The costs were reasonable and the timeline for closing was good. Using the online acct services and the mobile app make it easy to navigate.

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Kaleb Herbert
July 9th, 2018 Gilbert, AZ DETAILS
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I have had a great experience with B of A. There customer service is helpful and knowledgeable. We have had our home loan with them for 12 years, and did a bond loan . Our interest has stayed very low this whole time. Grateful the loan officer new that would be the best option for us.

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Robert Singleton
July 6th, 2018 Gilbert, AZ

BofA's customer service on home loan issues has been exemplary. The agents are helpful and informative and do what is necessary to answer questions I may have.

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Lori Lori
July 6th, 2018 Gilbert, AZ DETAILS
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The worst. Terrible experiences with a home loan. My mortgage loan was sold to B of A and I spent the next year on the phone with them because they constantly lost/missapplied/processed double payments each month. Also they don’t protect data very well and replace my debit card involuntarily at least every 14-18 months. Total nightmare.

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Eric Daniels
July 6th, 2018 Gilbert, AZ

Our Bank of America home loan was the easiest loan process of I have ever been through. We did a cash out refinance so we could do some home improvements and everything worked like clockwork. They even sent the notary to our home! Very convenient. We got a great rate and exactly what we needed without all the shenanigans.

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michelle l pierce
June 26th, 2018 Gilbert, AZ

Had a loan with them before, not great service, and hard to get the answers you need.

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Taylor Siren
June 21st, 2018 Gilbert, AZ

Bank of America provide easy access to loan money for your future dreams and plans.

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Elaine Seaton
June 8th, 2018 Stony Point, NC DETAILS
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I never had a problem with them. All my payments were on time and processed immediately. I was very happy with their service.

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Bell
June 4th, 2018 DETAILS
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Ease of paying online and an actual brick and mortar building for any questions

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MatthewMcGill
June 4th, 2018 DETAILS
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They are typical of any company. Friendly and good customer service.

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Fine quality
June 4th, 2018 DETAILS
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They did a very good job in all respects

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Patty Miles
May 25th, 2018 DETAILS
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They suck.. I have my banking needs with them so was excited when they bought my mortgage.. then they sold it before I even made my first payment so much for keeping your customers happy.

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Rickf
May 25th, 2018 DETAILS
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Very Reasonable rates and easy to work with on refinacing properties.

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Anonymous
May 25th, 2018 Santa Clara, CA DETAILS
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A good option for a bank. We belong to a credit union.

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Judith VeVerka
May 25th, 2018 Sharon, PA DETAILS
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I had my home mortgage through them. I was pleased with their service.

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Virginia
May 7th, 2018 Midvale, UT DETAILS
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They made it possible to lower the interest rate without paying a bunch of closing costs to refinance.

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Lisa Sitze
May 3rd, 2018 Round Rock, TX DETAILS
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Though they may not be the best back around, I have been with them for almost 20 years and have had few issues that couldn't be resolved with a quick phone call.

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Robert Woodside
May 2nd, 2018 Paige, TX DETAILS
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Payments went up when B of A took over the mortgage. Poor communication, very "bound" by company policies and procedures.

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Scott Messina
May 2nd, 2018 DETAILS
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The whole loan process was very easy from start to finish. I got a great fixed rate, and their online services are top notch

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Susan Weaver
May 2nd, 2018 DETAILS
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They are fairly good when it comes to home loans. When we finished paying of the home loan, however it took them 2 months to get our paperwork to us.

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Kevin Regan
April 25th, 2018 DETAILS
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We had negotiated a payment plan with a previous lender and Bank of America bought the company and informed us they would not honor the negotiated plans then foreclosing on our home

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Mary W. Llewellyn
April 25th, 2018 DETAILS
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well bank services wasn't that great they charge you to pay your home loan with them even at the bank walmart rates were cheaper

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James Moe
April 25th, 2018 DETAILS
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Terrible service, unreasonable repayment demands, lawsuits for late payments.

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Larry Hawker
April 24th, 2018 Las Vegas, NV

Bank of America is a large bank with plenty of resources. They try to be good at customer service but have a hard time with their own bureaucracy. Not a customer friendly bank. I have had a mortgage with them where the first payment was not credited right. It took nearly 3 years to resolve.

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Jazmin
February 22nd, 2018 Killeen, TX DETAILS
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Excellent customer service! Love BofA! Great company