A Quick Glance of Bank of America’s Home Mortgage Rates and Terms

Bank of America is one of the biggest and most trusted banks in the nation making it a sought after establishment for those who are looking for security and stability. Big establishments also have the luxury of offering competitive rates which is highly important especially when it comes to mortgage rates and loans.

There are many families out there that are in need of the right rates in order for them to purchase or refinance the homes they want to acquire. With bank of America, they can do just that.

To those who want to purchase a home, they can have the best mortgage rates at Bank of America. As of today with a loan of $300,000, Bank of America offers the best deals. For those who will be choosing this amount with a 30 year fixed rate, their monthly payment is $1,347.13 with a rate of 3.5000% and an APR or annual percentage rate of 3.633%. The monthly payment for the 15 year fixed rate on the other hand is $2,053.76 with rate of 2.875% and an APR of 3.130%. The other terms like the 7/1 ARM or the adjustable rate mortgage, the monthly payment is $1,224.72 with an APR of 3.140% and a rate of 2.750%. And lastly is the 5/1 ARM with an APR of 3.077% and a rate of 2.375%. The monthly payment for this term is only $1,165.96. With all these terms and rates, people who wish to buy a home will definitely be able to do it because of these offerings by Bank of America.