FHA and VA mortgage loans from Bank of America

Many US banking entities work hand in hand with the federal government to provide access to decent housing. Aware of its commitment to communities and those seeking less expensive financing, Bank of America makes its FHA and VA mortgages available to you.

Reviews, evaluations and opinions of our experts on the products and services that appear on this page are totally objective and independent. Some products may be from our partners who compensate us, which may influence where and how they are displayed. Advertising disclosure.

Purpose
For financiate: First and second home
Destiny: Buying a house or doing home repairs
Advantages: Low interest rates, starting at 0% down payment and available for scores of 600 or less
Interest
Interest: Fixed-rate
APR: Consult
Limits
Minimum of years: 10 years
Maximum years: 30 years
Minimum financing: Consult
Maximum funding: Consult
Maximum percentage: 100%
Commissions
Investigation commission: Consult
Opening commission: Consult
Commission for advance payment: Consult
Commission for surrogacy: Consult

More information of FHA and VA mortgage loans

Bank of America Mortgage LoansTo understand each of these mortgage loans, you have to know something about them. FHA (Federal Housing Association) mortgages or loans are aimed at people with incomes below the median in their counties.

They don't require a down payment (10% if your score is <580), have fixed rates and closing costs range from 2% to 5%.

In the case of VA mortgages, they are intended for active or non-active military personnel, are processed through a bank and are guaranteed by the Department of Veterans Administration. These are credits that do not ask for the PMI (Private Mortgage Insurance) nor an initial. They have more flexible conditions than bank options.

Each of these alternatives can be processed through the Bank of America and its FHA and VA mortgages. To do this, you must know with certainty what kind of property you are going to buy and the federal limitations of the county where you live. On the website of this entity, you can find what you need.

FHA and VA mortgages are an excellent alternative to acquire your first home, a second home or to invest. At Busconómico we can guide you by giving you essential information on how these government programs work.

With Bank of America you can also get other mortgages, both to purchase a house or to refinance your current mortgage and improve the conditions.

Español: Hipotecas FHA y VA de Bank of America