62 Most Popular Bank Of America Home Equity Loan Terms

The maximum line amount is 1 million for your primary residence and 500 000 for your second. The minimum loan term is 1 year and the maximum term will not exceed the account maturity date.

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Home equity line of credit heloc bank of america s heloc has a minimum credit line amount of 25 000.

Bank of america home equity loan terms. Other helocs require minimum payments of principal and interest. Enjoy the predictability of fixed payments when you convert some or all of the balance on your variable rate home equity line of credit heloc to a fixed rate loan option. Your fixed rate won t change for the selected term which means you re protected from the possibility of rising interest rates.

The minimum loan term is 1 year and the maximum term will not exceed the account maturity date. Once the borrowing period ends you ll repay the remaining balance on your heloc with interest just like a regular loan. You may convert all or a portion of your outstanding heloc variable rate balance to a fixed rate loan option resulting in fixed monthly payments at a fixed interest rate.

Fixed rate loan option during loan term. The repayment period is usually 10 or 20 years. You may convert all or a portion of your outstanding heloc variable rate balance to a fixed rate loan option resulting in fixed monthly payments at a fixed interest rate.

Fixed rate loan option during loan term. Some helocs allow interest only payments during the borrowing period. The minimum outstanding balance that can be converted into a fixed rate loan option is 5 000 from an existing heloc account.

The minimum outstanding balance that can be converted into a fixed rate loan option is 5 000 from an existing heloc account.

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