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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74 Reviews

Review Breakdown

5 star
45%
4 star
20%
3 star
9%
2 star
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1 star
18%

Sentiment Criteria

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Carl Doan

June 19th, 2020 Murrieta, CA DETAILS arrow_drop_down
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Easy to use and friendly branches and representatives. Website is simple to use and the mortgage is very hands off.

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Dan

March 24th, 2020 Bloomington, IL DETAILS arrow_drop_down
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Very conservative. Good website application. Good customer service.

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RICK

March 24th, 2020 Fort Worth, TX DETAILS arrow_drop_down
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GOOD CUSTOMER SERVICE DECENT RATES AND PRICING

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Edward & Mary Wilson

March 16th, 2020 DETAILS arrow_drop_down
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I like the communication from BofA. Statements and other items are clear and concise.

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Jim Fannon

March 16th, 2020 DETAILS arrow_drop_down
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You are an account. You are not a person. I was with NCNB, then Nations, then became BofA several accounting errors later, I left.

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Rick Galliher

February 11th, 2020 Middletown, MD DETAILS arrow_drop_down
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Very good. Have always been responsive and proactive in suggesting how to lower payments.

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JW

January 30th, 2020 DETAILS arrow_drop_down
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They are not customer oriented. They give the impression that you have to come to them, they do not need you. Experiences with them have been cold and I'm personable.

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kerry pardye

January 27th, 2020 Chandler, AZ DETAILS arrow_drop_down
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They gave me a mortgage loan but it was not based on fairness, another company purchased our loan

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Sharon

January 27th, 2020

Not competitive in their rates and not concerned about customer satisfaction

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dlsslpr2

January 16th, 2020 Woodland, CA DETAILS arrow_drop_down
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I am a very loyal customer to B of A. The mortgage process was very simple.

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Ashley

May 20th, 2019 Pleasant Grove, UT DETAILS arrow_drop_down
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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 arrow_drop_down
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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 arrow_drop_down
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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 arrow_drop_down
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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 arrow_drop_down
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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 arrow_drop_down
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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 arrow_drop_down
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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 arrow_drop_down
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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 arrow_drop_down
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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 arrow_drop_down
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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 arrow_drop_down
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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 arrow_drop_down
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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 arrow_drop_down
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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 arrow_drop_down
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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 DETAILS arrow_drop_down
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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 arrow_drop_down
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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 DETAILS arrow_drop_down
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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 arrow_drop_down
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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 arrow_drop_down
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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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July 6th, 2018 Gilbert, AZ DETAILS arrow_drop_down
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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 S.

June 8th, 2018 Stony Point, NC DETAILS arrow_drop_down
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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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MatthewMcGill

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

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Bell

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

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Rickf

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

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Patty Miles

May 25th, 2018 DETAILS arrow_drop_down
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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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Judith VeVerka

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

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Peace of mind is priceless.

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