A Bank of America loan application gathers mortgages, home equity lines of credit (HELOCs), auto loans, and small-business financing.
This guide walks you through each process—what to prepare, how to submit, how rates work, and where to get help.
Eligible checking customers may instead use the Balance Assist® small-dollar option.
What You Can Apply For Online
Mortgages (purchase and refinance) can prequalify, compare fixed or adjustable options, and submit a full application online.
HELOC (home equity line of credit) is a variable-rate credit line typically tied to the Wall Street Journal (WSJ) Prime Rate.
Auto loans (new/used, refinance, lease buyout) and small-business financing give lines of credit, SBA options, and equipment/vehicle financing.
Use small-dollar solution (Balance Assist®) to borrow up to $500 for a flat $5 fee, repaid in three equal monthly payments.
Bank of America Loan Application for Mortgage (purchase or refinance)
Go to the mortgage rates page, enter location and loan details, and compare fixed vs. ARM structures.
A short prequalification can estimate affordability without commitment. It can help you discuss price ranges with a real-estate agent and may speed up later steps.
Create your profile and start
Click Apply now, sign in or create an account, and provide borrower info (SSN, employment history, income, assets) plus property details.
Keep handy: ID, W-2/1099, recent pay stubs, and bank statements.
Use the online portal to submit requested items and message the lending team. Respond quickly to conditions to keep underwriting moving.
Lock, disclosures, and appraisal
Once you select a product, you can lock your rate and e-sign disclosures.
Many ARMs are indexed to SOFR with defined adjustment caps—review those tables carefully.
An appraisal is typically ordered for property valuation.
Final approval and closing
After underwriting clears conditions, review your Closing Disclosure (CD), confirm cash-to-close, and sign at closing (some states allow hybrid/remote options).
Bank of America Loan Application for HELOC
BofA HELOCs are generally variable-rate and indexed to WSJ Prime plus or minus a margin.
Autopay can reduce your rate by 0.25%, and qualifying relationship tiers may earn additional discounts (subject to caps and eligibility).
Apply and verify
Use the HELOC calculator to model draws, interest-only payments during the draw period, and principal-plus-interest during repayment.
Apply with property value, mortgage balance, income, and authorization for a credit check.
Upload pay stubs/tax returns, homeowners insurance, and mortgage statements as requested.
Close & access funds
If approved, you’ll receive line terms and closing instructions.
After closing, access funds via checks, transfers, or online banking during the draw period.
Bank of America Loan Application for Auto Loan
Select new/used purchase, refinance, or lease buyout.
You will see product features (e.g., 30-day rate lock) and any Preferred Rewards APR discounts (0.25%–0.50% based on tier).
Apply online
Enter vehicle details (or VIN/current lender info for refinance), desired term, and submit.
Many applicants receive a decision quickly.
Next steps
For dealer purchases, you may receive an approval code to present at a participating dealership.
For refinance or lease buyout, you’ll upload title and payoff information and coordinate payoff with your current lender.
Bank of America Loan Application for Small-business Loans and Lines
Options include unsecured/secured lines of credit, term loans (often for equipment or working capital), and SBA-backed solutions.
Minimums for unsecured lines commonly start around $10,000.
Apply and prepare
Provide business legal name, EIN/SSN, ownership structure, and financials (recent P&L, balance sheet, bank statements).
Collateral details may be needed for secured products.
Finalize with a specialist
Expect follow-up to verify ownership percentages, collateral valuation, and use of funds.
Closing documentation will specify rate, fees, and covenants (if any).
Interest Rates
It can be affected by points, property type, and credit profile. Capture or print your quote screens and disclosures when you rate-shop.
- Mortgages: A 30-year mortgage rate was about 6.1% earlier in 2025 and around 6.7% by 27 mar 2025
- HELOCs: Variable and typically indexed to WSJ Prime, with relationship/autopay discounts (e.g., 0.25% for autopay and additional discounts up to stated caps).
- Auto loans: BofA publishes “as low as” APRs by state during application and offers a 30-day rate lock plus 0.25%–0.50% Preferred Rewards discounts; check your state’s current APR in the online flow.
What to Prepare (documents & timing)
Turnaround times vary by product, property type, state requirements, and responsiveness to conditions.
Upload items promptly and check your online task list to avoid delays.
- Identity and income
- Government photo ID and SSN (or ITIN where applicable).
- Recent pay stubs (typically 30 days), W-2/1099 for the past two years, and tax returns for self-employed borrowers.
- Assets and housing
- Bank/retirement statements (most recent 1–2 months).
- Mortgage statement and homeowners insurance (for HELOC or refinance).
- Purchase contract for home purchase loans.
- Vehicle (auto loans)
- VIN, purchase agreement or refinance payoff details, proof of insurance.
- Business financing
- EIN/SSN, ownership documents, P&L, balance sheet, business bank statements, and, for secured credit, collateral details.
Customer Support
General customer service: 800-432-1000 (Spanish: 800-688-6086). International collect: 1-315-724-4022.
Mortgages (apply/talk to a specialist): 866-466-0979.
Auto loans: 844-892-6002.
Corporate correspondence address: Bank of America Corporate Center, 100 North Tryon Street, Charlotte, NC 28255.
Security Reminders
Access loan applications only through the official website or mobile app.
Do not share one-time passcodes or send money to “fix” supposed account problems.
If you receive an unexpected call, text, or email, hang up and dial the official number above.
Conclusion
Bank of America’s online portals make it easy to start a mortgage, HELOC, auto, or small-business application from home.
You’ll see clear pricing screens—rate, APR, and points where applicable—and you can upload documents and message your team securely.
For personalized guidance, call the dedicated phone numbers or visit a local financial center to review choices before you commit.
Disclaimer: This material is for information only and not financial advice. Eligibility, rates/APRs, fees, discounts, and terms change frequently and depend on your credit profile, location, and product selection. Always rely on the official Bank of America disclosures and your signed loan documents, and confirm contact details on the bank’s website before calling or mailing.
