Bank of America review

Updated September 28, 2026 · BorrowCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Bank of America suits US homebuyers and remortgagers who want a long fixed period from a direct lender rather than a broker. Its 30 fixed period and 95% maximum loan to value make it the steadier of the options here.

Key facts

Best for
US homebuyers and remortgagers who want a long fixed period from a direct lender.
Fixed period
30 years (Source, checked September 26, 2026)
Maximum loan to value
95% (Source, checked September 26, 2026)
Purpose
Purchase, Remortgage, First-time-buyer, Home-equity (Source, checked September 26, 2026)
Lender type
Direct lender (Source, checked September 26, 2026)
Legal entity
Bank of America California, National Association (Source, checked September 26, 2026)
Headquarters
United States (Source, checked September 26, 2026)
Support channels
Phone, Help-centre (Source, checked September 26, 2026)
Official website
bankofamerica.com

Loans

Lender type
Direct lender (Source, checked September 26, 2026)
Loan types
Car, Business (Source, checked September 26, 2026)
Legal entity
Bank of America California, National Association (Source, checked September 26, 2026)
Headquarters
United States (Source, checked September 26, 2026)
Support channels
Phone, Help-centre (Source, checked September 26, 2026)

Apps and profiles

Get the app
App Store
Elsewhere
WikidataWikipediaX

Pros and cons

Pros

  • Fixed periods run to 30, ranking 3 of 259 brands compared on that measure
  • Lends as a direct lender, so applications run through the bank rather than a broker under direct lender arrangements
  • Covers purchase, remortgage, first-time-buyer and home-equity needs through purchase, remortgage and first time buyer lending
  • Help is available on phone and help centre

Cons

  • Lending beyond mortgages sits under car and business loans only
  • Support runs on phone and help centre only, so no chat or email route is listed
  • The 95% maximum loan to value ranks 47 of 293, below the top of the table
Bank of America

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Scored 9.3 / 10 by BorrowCue.

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Who it suits

  • Homebuyers fixing for the long haul, with a fixed period of 30
  • Borrowers who want a direct lender, on direct lender terms
  • Remortgagers and home-equity borrowers who can work with 95%

Who should look elsewhere

  • Buyers wanting a shorter or adjustable term, since the fixed period is 30 and Sofkredit offers 0.5 to 20
  • Borrowers after a mid-length commitment, where Creditilia ES lists 5
  • Anyone wanting the longest fixed term, since Prestalo lists 25

How Bank of America compares

Where Bank of America is available

Available
United States
Licence in United States
Federal Deposit Insurance Corporation (FDIC), checked September 26, 2026
Licence in United States
FDIC (FDIC cert 25178), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

How long can I fix the rate for?+

Bank of America lends fixed-rate mortgages over 30. That places it 3 of 259 brands compared on fixed period, so the term is longer than most of the field rather than a short fix.

How much of the property can I borrow?+

The maximum loan to value is 95%, so a deposit covers the remainder of the property value. On that measure it ranks 47 of 293, so it is strong without being the highest in the comparison.

Who holds the account and is it regulated?+

The lending entity is Bank of America California, National Association, based in the United States. It holds FDIC cert 25178 and sits under the Federal Deposit Insurance Corporation, which is the deposit protection regime the balance falls inside.

Do I apply through a broker?+

No. direct lender lending means applications and offers come straight from the bank rather than through an intermediary. Across the site, direct lenders account for 72.1% of offers, against 20.6% for brokers.

What can I borrow it for?+

Home lending covers purchase, remortgage and first time buyer purposes, so a purchase, a remortgage, a first-time-buyer mortgage or a home-equity loan can all sit with one bank. Alongside that, car and business loans are listed for vehicle and business needs.

How do I get help once I have an account?+

Support runs on phone and help centre. Phone is the most common route in the mortgage ranking, at 90.1% of brands offering it, with email and help-centre access on 68.4% and 71.7%.

Sources

  • banks.data.fdic.gov/bankfind-suite/bankfind/details/25178 checked September 26, 2026

    Backs: Headquarters, Legal entity, Licences

    “CERT=25178; NAME=Bank of America California, National Association; WEBADDR=www.bankofamerica.com; ACTIVE=1”

  • bankofamerica.com checked September 26, 2026

    Backs: Loan types

    “Auto Loans; Small Business; Home Loans”

  • bankofamerica.com/credit-cards checked September 26, 2026

    Backs: Lender type

    “Banking products are provided by Bank of America, N.A., and affiliated banks, Members FDIC and wholly owned subsidiaries of BofA Corp.”

  • bankofamerica.com/mortgage checked September 26, 2026

    Backs: Purpose, Support channels

    “Refinance your mortgage with our low refinance rates ... Information for first-time homebuyers ... Use my home's equity for a major expense”

  • bankofamerica.com/mortgage/fixed-rate-mortgage-loans checked September 26, 2026

    Backs: Fixed period, Maximum loan to value

    “30-year fixed - With a fixed-rate mortgage, your monthly payment stays the same for the entire loan term”

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Initial rate, APRC.

Bank of America

Bank of America

US homebuyers and remortgagers who want a long fixed period from a direct lender.

9.3/10See alternatives

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