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Bank of America Home Equity Loans Review

Item: Bank of America Home Equity Loans
Author: ConsumersAdvocate

11 Customer Comments & Reviews - see all comments

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Bank of America is a federally-recognized financial institution that offers home equity loans. Headquartered in North Carolina and founded in 1904, Bank of America is a direct lender that qualifies potential borrowers based on their credit score, employment history, and outstanding debt.

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How is Bank of America rated?

Breakdown

Overall Rating: 0 / 5 (N/A)

Bank of America, founded in 1874, is one the nation's oldest financial institutions, backed by more than a century of experience. They offer a variety of ways to tap into the equity accumulated in your home, but have recently developed a poor reputation, due to customer complaints regarding transparency.

Bank of America Features

Lender Type	Bank
Loan Types Available	Home Equity Loan Home Equity Line of Credit Cash-out Refinance
Minimum HELOC	$25,000
Maximum HELOC	$1,000,000
HELOC Annual Fees	$0
Cash-out Refinance Terms	5/1 Arm Variable, 15/30 Year Fixed
Waived Fees	Closing Fee Application Fee
Closing Fee	Free
Application Fee	Free

Bank of America Qualifications

Loan Qualifications	Property Appraisal Proof of Employment Primary Residence

Bank of America Customer Experience

Total Consumer Financial Protection Bureau Complaints	12,408
Total CFPB Complaints/Originations	3.45
Site Features & Technology	Home Equity Calculator Mobile App Online Application Online Quote

Memberships & Accreditations	Equal Opportunity Lender Insured by Federal Housing Administration Federal Home Loan Bank Member
Nationwide Mortgage Licensing System ID	399802
Nationwide Mortgage Regulatory Actions	2

Contact & Additional Information

Homepage URL	https://www.bankofamerica.com
Headquarters Address	100 N Tyron St. Mailcode NC 1007, Charlotte, NC, 28255
Mailing Address	100 N Tyron St. Mailcode NC 1007, Charlotte, NC, 28255

What We’re Hearing From Our Readers

Jim Trumm

Editor

Bankers tend to be an unloved breed. Even when they do their jobs well, they don’t get many bouquets. That’s certainly the case with Bank of America. Ironically, though, most of the comments about BoA come from people who were denied a home equity loan—in other words, people who were disappointed that they couldn’t become an actual BoA customer.

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At ConsumersAdvocate.org, we take transparency seriously.

Bank of America Home Equity Loans Review

At ConsumersAdvocate.org, we take transparency seriously.

How is Bank of America rated?

Breakdown

Overall Rating: 0 / 5 (N/A)

Bank of America Features

Bank of America Qualifications

Bank of America Customer Experience

Contact & Additional Information

Customer Comments

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