Home Equity Line of Credit (HELOC)

If you have a house or apartment with or without a mortgage, you have what is known as home equity. The Bank of America HELOC is a line of credit that allows you to borrow using your property as collateral.

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Purpose
For financiate: Any expense or investment
Destiny: Free
Advantages: Almost no fees, low APR and management flexibility
Interest
Interest: 6.72% APR Variable
APR: 6.72%
Limits
Minimum of years: Consult
Maximum years: Consultar
Minimum financing: Consult
Maximum funding: Consult
Maximum percentage: Consult
Commissions
Investigation commission: $ 0
Opening commission: $ 0
Commission for advance payment: Consult
Commission for surrogacy: Consult

More information of Home Equity Line of Credit (HELOC)

Bank of America HELOCAs long as you know the equity in your home, you can get some extra money. Applying for the Bank of America home equity line of credit will only take 15 min. It is a simple process that is carried out on its official website by filling out the form and uploading the required documents.

The most attractive thing about this HELOC is that it does not include additional costs for its hiring.

This means that you pay nothing to apply, there is no annual fee, and there are no known closing costs (with limits of up to $1 million). Also, there is no fee to convert your variable interest rate to a fixed one.

As you know, this banking product works like a credit card with a set limit. This means that you can use the amount you need, return it and use it again. You can do this using Mobile/Online Banking, over the phone, or with free checks.

If you turn on autopay, you receive a 0.25% discount on APR. They also give you a discount of 0.75% when you withdraw an initial amount of at least $10 thousand, and up to 0.375% if you are a Platinum Honors client of the Preferred Rewards program (Gold: 0.125% and Platinum: 0.25%).

The BoFA Home Equity Line of Credit is a very attractive option. Even so, in Busconómico you can compare the most beneficial HELOCs on the market.

Español: Línea de crédito con garantía hipotecaria de BofA