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Bank of America Mortgage Loan

Bank of America Mortgage Loan is for all and everyone. From first-time home buyers to seekers of second mortgage, refinance or home equity loans, all can find a program that is just right for them. Only you need to be a bit careful in choosing your option and the rest will be taken care of by the experienced loan officers of the bank. Talk to a Bank of America mortgage loan officer at 1.888.233.4124 to discuss your options and acquire as much information as you can about the applicable interest rates, closing costs and monthly payment. Ask candidly if you can qualify for any reduction in rates or any other fees.

Types of Mortgage Loans available at Bank of America

BofA has prepared a new home loan guide for first time home buyers, which explains every kind of finance options at greater length. Most popular among these options are 30-year fixed-rate mortgage, FHA loans and adjustable-rate mortgages (ARMs). Existing homeowners, on the other hand, can choose a refinance product or go for a home equity loan. But remember to analyze your financial status thoroughly in order to ascertain their viability and get the maximum benefits out of these options. To help you out, BOA provides tools like payment calculator, closing costs estimator, today’s rates and down payment calculator online. Using the Internet, one can even apply and check their application status online.

Bank of America Mortgage Doctor Loan Program

There exists a special program for professionals, such as doctors, nurses, physicians, firefighters, school teachers and police personnel. Known as Neighborhood Champions Protected Mortgage, it is designed to give maximum protection to the borrowers in case of accidental death or any other loss. The best part of the program is that you are not required to pay the insurance premiums as these become the responsibility of the bank. The mortgage loan payoff can be full or partial depending upon the amount of loan balance and type of loss. Visit the website of the bank to get complete understanding of application process and other details. You can also call 1.888.293.0264 to talk to a specialist loan officer.

Bank of America Mortgage Loan Servicing

Once you become a customer of the bank, your loan details are transferred to BAC Home Loans Servicing LP, the servicing division for Bank of America. The details of borrowers who have taken mortgage loans from Countrywide Financial have also been transferred to this company. BAC Home Loans Servicing LP prefers to accept mortgage payments via secured web portal through the online banking account of the customers. To avail this facility, you need to enroll first and get your login ID and passcode. For any aspects related to mortgage servicing, such as financial hardship, loan modification, homeownership retention, payment problems and payoff request, you need to contact the customer service department of this company. The phone number is 1.800.669.6607.

Bank of America Mortgage Loan Officer

A Bank of America mortgage loan officer is experienced enough to guide you properly throughout an application process. Their cooperation is inevitable in making the right choice out of an array of borrowing options. They have been adequately trained and are among the highest paid staff of the bank. If you are thinking of a refinance option in order to take cash out of your property, you need to take the service of a BOA mortgage loan coordinator, who plays a key role in the appraisal process of your home. Moreover, you need to pay the cost of appraisal, which usually comes around $300 to $500. A check to this effect should be sent to your coordinator. Students and Job seekers willing to join the bank as a loan officer or coordinator can get their salary information online from a third party website. Customers can use Bank of America mortgage loan officer locator to find an office near their location. For information on how to use it, visit the website of the bank.

Website: www.bankofamerica.com


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