What types of home loans does Bank of America offer?
Asked 6 months ago
Bank of America offers a wide range of home loan options to suit various needs. These include traditional fixed-rate mortgages, adjustable-rate mortgages (ARMs), FHA loans, VA loans, and jumbo loans. Fixed-rate mortgages provide stability with consistent monthly payments over the life of the loan. ARMs offer an initial fixed-rate period, followed by potential rate adjustments depending on market conditions. FHA loans are backed by the Federal Housing Administration and are suitable for borrowers with lower credit scores or limited down payment capabilities. VA loans are exclusively available to eligible military service members, veterans, and their families. Jumbo loans are designed for financing higher-priced properties exceeding traditional loan limits. Whether you're a first-time homebuyer or looking to refinance, Bank of America has a range of mortgage options to meet your unique requirements.
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