GitLab

You are welcomed to apply. Your receipt of this product does not imply you have been prequalified or pre-approved for any product and services we provide. This is not a commitment to provide; you should submit extra info for review and approval.

Merrill Lynch, Pierce, Fenner & Smith Inc., does not make commitments for or fund loans. Bank of America, N.A., (the "Bank") does not serve in a fiduciary capability with respect to all service or products. Fiduciary standards or fiduciary responsibilities do not use, for example, when the Bank is providing or supplying credit solutions, banking or custody services or referrals to other affiliates of the Bank.
topagentmagazine.com
1You are welcomed to request a Home Equity Line of Credit (HELOC). This is not a dedication to lend; you should submit extra info for evaluation and approval.

The regard to a HELOC is thirty years: 10-year draw duration, 20-year payment duration. Residential or commercial property insurance coverage is constantly needed and flood insurance coverage is required where required. Certain residential or commercial property types are not eligible collateral. If you select the Interest Only Option, throughout the Draw Period the minimum regular monthly payment will be the quantity of accrued interest, plus any overdue fees. Under the Amortizing Payment Option, the variable minimum month-to-month payment for both the Draw Period and the Repayment Period will be an amount sufficient to pay back the impressive balance in principal and interest payments over the remaining term at the applicable APR, subject to a minimum payment of at least $100. The minimum line amount is usually $25,000, however lines as low as $15,000 are offered in certain areas. Bank of America pays all closing costs on lines up to and including $1,000,000.

2 Please consult your tax consultant relating to interest deductibility.

3 Fixed-Rate Loan Option at account opening: You may transform a withdrawal from your home equity line of credit (HELOC) account into a Fixed-Rate Loan Option, resulting in fixed regular monthly payments at a fixed interest rate. The minimum HELOC quantity that can be transformed at account opening into a Fixed-Rate Loan Option is $5,000 and the maximum quantity that can be converted is restricted to 90% of the optimum line amount. The minimum loan term is 1 year, and the maximum term will not exceed the account maturity date.

Fixed-Rate Loan Option during loan term: You might convert all or a part of your outstanding HELOC variable-rate balance to a Fixed-Rate Loan Option, resulting in fixed month-to-month payments at a set rate of interest. The minimum impressive balance that can be transformed into a Fixed-Rate Loan Option is $5,000 from an existing HELOC account. The minimum loan term is 1 year, and the maximum term will not surpass the account maturity date. No greater than three Fixed-Rate Loan Options might be open at one time. Rates for the Fixed-Rate Loan Option are normally higher than variable rates on the HELOC.

HELOC funds might not be utilized to acquire, bring or trade securities or pay back financial obligation sustained to purchase, bring or trade securities.

4 Lower your rate of interest when you set up automatic payments at account opening from your Bank of America checking or savings account; by drawing and keeping a preliminary qualifying balance for at least the first 3 billing cycles; and when you're enrolled in Bank of America's Preferred Rewards program at the time of application submission.

5 Preferred Rewards Program Eligibility: You can register, and preserve your subscription, in the Bank of America Preferred Rewards ® program if you have an active, qualified individual bank account with Bank of America ® and keep the balance required for among the balance tiers. The balance tiers are $20,000 for the Gold tier, $50,000 for the Platinum tier, $100,000 for the Platinum Honors tier and $1,000,000 for the Diamond Honors tier. Balances include your combined, qualifying Bank of America bank account (such as checking, cost savings, certificate of deposit) and/or your Merrill investment accounts (such as Cash Management Accounts, 529 Plans). You can satisfy the combined balance requirement for registration with either:

1. a three-month integrated typical daily balance in your qualifying deposit and investment accounts, or
2. a current combined balance, offered that you enlist at the time you open your first eligible individual bank account and please the balance requirement at the end of a minimum of one day within one month of opening that account.
   
   Describe your Personal Schedule of Fees for details on accounts that certify towards the combined balance calculation and get program advantages. Eligibility to register is normally readily available three or more service days after completion of the calendar month in which you please the requirements. Benefits end up being reliable within 1 month of your registration, or for brand-new accounts within thirty days of account opening, unless we suggest otherwise. Bank of America Private Bank customers certify to register in the Diamond Honors tier despite balances. Certain advantages are likewise available without enrolling in Preferred Rewards if you satisfy balance and other requirements. For information on Bank of America worker certification requirements, please call Employee Financial Services or refer to the Bank of America intranet site. Employees of business taking part in the Bank of America Employee and Investing Program may be qualified to participate on tailored terms. Refer to CEBI Program for information.
   
   6 Preferred Rewards Home Equity Credit Line. Home Equity Credit Line (HELOC) rate of interest discount rates are provided to clients who are enrolled or are eligible to enroll in Preferred Rewards, based on their rewards tier at the submittal of home equity application (for co-borrowers, a minimum of one applicant should be registered or eligible to enlist). Amount of discount (0.125% for Gold tier, 0.250% for Platinum tier, 0.375% for Platinum Honors tier, and 0.625% for Diamond Honors tier) is based upon the benefits tier at the submittal of home equity application and is exempt to modification after the application is submitted. Benefit is non-transferable. Preferred Rewards home equity advantage can be combined with certain other home equity interest rate discounts. Credit and collateral topic to approval. Terms and conditions apply. Programs, rates, terms subject to change without notification.
   
   Banking, mortgage and home equity products are offered by Bank of America, N.A., and associated banks, Members FDIC and entirely owned subsidiaries of Bank of America Corporation. Bank of America, N.A. Equal Housing Lender. Credit and security are subject to approval. Conditions apply. This is not a dedication to provide. Programs, rates, terms are subject to alter without notification.