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Bank of America Home Equity
|Bank of America home equity loans and line of credit programs allow you to unlock the potential of the equity value in your home. When you have borrowed a mortgage loan to buy a home and when you have started paying a considerable amount of the loan the equity value of your home keep on increasing. Bank of America home equity programs allow you to use this equity to get usable cash that you can use for almost any purpose. With the help of Bofa home equity loan and home equity line of credit you can meet a number of expenses that include:
- Consolidation of high interest debts
- Paying the education expenses of your child
- Making home repairs and renovation
- Plan a wedding or a holiday, etc
Bank of America Home Equity Loan
Bofa home equity loan is a smart choice for those homeowners who are in need of funds to cover several expenses. All you have to do is just keep the equity of your home as collateral against the home equity loan amount to get fast and hassle free approval. BOA home equity loans have lower rates compared to the interest rates of many traditional loans and credit cards. One of the most important features is its flexibility to get access to funds depending on the equity value of the borrower's home and their credit limit. Some beneficial features of Bank of America home equity loans are;
- Lower Interest Rates
- One-time payout
- Fixed monthly payments till the end of the loan term
- Get the loan amount upfront
Bank of America Home Equity Line of Credit
Bank of America also provide line of credit program which is a type of revolving credit where the home of the borrower serves as the collateral of the line of the credit term. The amount of the Bofa home equity line of credit will be mainly determined by the equity value of the collateral and the credit worthiness of the borrower. Bank of America home equity rates are quite competitive and they provide flexibility, easy access to funds and stability to the borrowers.
Bank of America home equity department handles all the process of lending home equity loan and line of credit programs. The department also provides customer services to homeowners who are looking for reliable information on home equity programs. Bank of America customer service is available for 7 days a week. Customers can call at 1.888.293.0264 to get the best of assistance from the home equity department of the bank. Moreover, Bank of America home equity calculator can be used to find the best available home equity program that are suitable for the borrowers.