After the fixed-rate period, the interest rate adjusts to the going interest rate for the remainder of the loan. Adjustable-rate mortgages (ARM). You’ll initially have a lower fixed interest rate, usually lasting up to 10 years.Interest rates are competitive, and you won’t have to worry about them increasing over the course of your loan. Fixed-rate mortgage. Your interest rate remains consistent throughout the term of the loan, allowing for predictable monthly payments over 15, 20 or 30 years.Home mortgagesīank of America offers mortgages for a wide range of borrowing needs, with two types to choose from. It offers competitive rates and loan amounts starting at $25,000 and going up to $2 million. Need a business loan to purchase inventory or cover day-to-day expenses? Bank of America’s business loans may be what you need. BofA also works with dealer networks and can recommend one that uses it to finance its auto loans. In as little as 24 hours, you can receive the funds needed to pay for your car - and you may even get a discounted rate if you have a BofA checking account. Interest rates start at 3.59% for new cars and 3.79% for used models. Auto loansīofA provides auto loans for new and used cars as well as lease buyouts and refinancing. What types of loans does Bank of America offer?īank of America extends loans to homebuyers, car buyers and small business owners. It’s one of the top banks in the US and a reputable financial product provider for many Americans. One of America’s biggest financial service providers, Bank of America (BofA) offers a variety of loans with a simple application process and additional financial resources. All international money transfer services.
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