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Bank of America Home Loans

National bank with 3% down programs, FHA and VA loans, jumbo loans, and down payment grants in select markets

Lender terms checked October 14, 2026
Mortgage LendersRefinance Lenders
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The Bottom Line

Min. down (non-VA)
3% (verified Oct 14, 2026). All rates and fees

Key facts

  • Loan types: Conventional, FHA, VA, Jumbo
  • Online pre-approval: Yes

Pros

  • Affordable Loan Solution: 3% down with a competitive rate, subject to income limits
  • Down Payment Grant of up to 3% of the price (up to $10,000) for first-time buyers in select markets
  • VA loans with as little as $0 down
  • BofA Rewards clients may qualify for an origination fee or interest rate reduction

Cons

  • No minimum credit score is published; its rate tool assumes a score of 740 or higher
  • The live rates did not appear in the page text we could read, so no sample rates are shown
  • Grants and the Affordable Loan Solution have income limits and apply in select markets only
  • Extended rate locks require a lock-in fee

At a glance

Lender terms checked October 14, 2026
Lender type
Bank
Loan purposes
Purchase, Refinance, Cash-out refinance
Loan types
Conventional, FHA, VA, Jumbo
Minimum down payment
0% (0% on VA, 3% on the Affordable Loan Solution and some conforming loans, 3.5% on FHA; its online rate tool assumes 5% or more)
Minimum down payment without VA
3%
Online pre-approval
Yes. Prequalify online, with results possibly within an hour. A preapproval letter is good for 90 days and is not a commitment to lend
Lender fees
No fee amounts are published. BofA Rewards clients may qualify for an origination fee or interest rate reduction.
Rate lock
Its rate tool assumes a 45-day lock on purchases and 60 days on refinances. Extended locks on new construction require a lock-in fee.
First-time buyer programs
Down Payment Grant (up to 3% of the price, up to $10,000, select markets; you must be a first-time homebuyer with no homeownership in the past three years); America's Home Grant (lender credit up to $7,500 toward closing costs or to buy down the rate); Affordable Loan Solution (3% down, income limits, mortgage insurance required)
Customer satisfaction
792 on a 1,000-point scale, second among ranked lenders (Citi 802 was first; the study average was 760) (JD Power 2025 U.S. Mortgage Origination Satisfaction Study)
NMLS ID
399802

Sources: bankofamerica.com/mortgage, bankofamerica.com/mortgage/assumptions-home-loan, read October 14, 2026

Things to know before you apply

  • Bank of America does not publish a minimum credit score. Its rate tool assumes excellent credit, a score of 740 or higher.
  • Several affordable-lending programs have income limits and are available in select markets only.
  • Extended rate lock options require a lock-in fee, and fee amounts are not published.
  • Lender and origination fee amounts are not published.

Regulatory record

  • November 28, 2023: The CFPB issued a consent order against Bank of America, N.A. covering fair lending and mortgage origination (reporting of mortgage data), with a $12 million civil money penalty. The CFPB lists the matter as expired or terminated. Source

Where these numbers come from

Everything in the table above was read from the lender's own pages, listed here with the day we read them.

NMLS ID 399802, as the lender prints it on its own site. Confirm its licenses in your state on NMLS Consumer Access (that site blocks automated checks, so we have not confirmed the lookup ourselves).

What is Bank of America Home Loans?

Sources read on the date shown
Bank of America Home Loans is a bank that offers loans for buying a home, refinancing and cash-out refinancing. On its own site it lists Conventional, FHA, VA and Jumbo loans. Who can borrow, as the lender publishes it: Bank of America Home Loans does not publish a minimum credit score on the pages we read. Minimum down payment: 0% (0% on VA, 3% on the Affordable Loan Solution and some conforming loans, 3.5% on FHA; its online rate tool assumes 5% or more). Costs and timing: No fee amounts are published. BofA Rewards clients may qualify for an origination fee or interest rate reduction. Rate lock: Its rate tool assumes a 45-day lock on purchases and 60 days on refinances. Extended locks on new construction require a lock-in fee. Bank of America Home Loans did not publish a rate table with stated assumptions on the pages we read, so we show none. Your own rate can only come from an official offer from the lender. We read these figures from Bank of America Home Loans's own pages on October 14, 2026; the pages are listed under 'Where these numbers come from'.
Sourcebankofamerica.com ↗

Key details

Conventional, FHA, VA and jumbo loansAffordable Loan Solution: 3% down (income limits)Down payment grant up to $10,000 in select marketsNMLS ID 399802

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Bank of America Home Loans FAQ

What credit score does Bank of America Home Loans require?

Bank of America Home Loans does not publish a minimum credit score on the pages we read. Lenders set it by loan type and look at your full credit profile, so ask the lender directly.

How much do you need to put down at Bank of America Home Loans?

The lowest down payment Bank of America Home Loans publishes is 0% (0% on VA, 3% on the Affordable Loan Solution and some conforming loans, 3.5% on FHA; its online rate tool assumes 5% or more). Without VA eligibility, the lowest figure it publishes is 3%. Under 20% down, conventional loans usually add private mortgage insurance.

Does Bank of America Home Loans charge fees?

No fee amounts are published. BofA Rewards clients may qualify for an origination fee or interest rate reduction. Rate lock: Its rate tool assumes a 45-day lock on purchases and 60 days on refinances. Extended locks on new construction require a lock-in fee. Closing costs also include third-party charges such as an appraisal and title services.

Can you get pre-approved online with Bank of America Home Loans?

Yes. Prequalify online, with results possibly within an hour. A preapproval letter is good for 90 days and is not a commitment to lend. A pre-approval is not a commitment to lend.

Is Bank of America Home Loans licensed?

Bank of America Home Loans prints NMLS ID 399802 on its own site. You can look up its licenses in your state on NMLS Consumer Access (nmlsconsumeraccess.org). We could not confirm the lookup ourselves because that site blocks automated checks.

Will Bank of America Home Loans quote my rate here?

No. Financeradar is not a lender and we do not quote personal rates. We show what the lender publishes, with the date we checked it. Your own rate comes from an official offer from the lender.

Source: bankofamerica.com