Bank of America, the largest commercial bank in the United States by deposits and the second largest by market capitalization, is headquartered in Charlotte, North Carolina. As of 2007, the bank holds $1.72 trillion in assets, and has 203,425 employees. The Home Equity Line of Credit from Bank of America offers a one-time cash payout with fixed monthly payments at a fixed interest rate. Automatic deductions are available, and there are no fees or closing costs. The maximum term is up to 25 years, and up to 100% of interest is tax deductable.
I applied HEL from BOA, but this time they offer only 75% of the equity base on drive by appraisal. They don't take any more risk...
during this recession...
I applied for a Home Equity Loan from Bank of America last year. The application process was fast and easy. I was quickly approved. I went to the closing in about a week after I submitted the application and I did not pay anything for getting the loan. Less than a week later, my checking account was credit for the total loan amount. The whole process was painless.
This is a great plan offered by Bank of America. One of the plan's greatest benefits is deducting the interest on my taxes. Bank of America is a very reputable company, go with this plan for a home equity loan
| Type | Today | Week Ago |
|---|---|---|
| 15 Year Fixed | 4.62%  |
4.67% |
| 30 Year Fixed | 5.15% | 5.15% |
| 1 Year ARM | 3.48% |
3.51% |
| 5/1 Year ARM | 3.62% |
3.68% |
| Type | Today | Week Ago |
|---|---|---|
| Line of Credit | 4.89%  |
4.88% |
| 10 Year Loan | 7.47% | 7.47% |
| 15 Year Loan | 7.61% |
7.60% |
| Type | Today | Week Ago |
|---|---|---|
| Interest Checking | 0.28% | 0.28% |
| Money Market/Savings | 0.38% | 0.38% |
| 12 Month CD | 1.13%  |
1.15% |
| 60 Month IRA CD | 2.40% |
2.41% |
| Type | Today | Week Ago |
|---|---|---|
| Cash Back Cards | 12.66% |
12.68% |
| No Annual Fee Cards | 12.08% |
11.97% |
| Reward Cards | 12.75% |
12.61% |
| Small Business Cards | 11.01% |
10.94% |
| Student Cards | 13.77% |
13.49% |
| Platinum Cards | 12.26% |
12.11% |
