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Ready to Refinance? We are here to help.
Get started with the Bank of America Digital Mortgage Experience®
Apply now for home loans
Get estimate of costspopup
Apply now for home loans
Get estimate of costspopup
Apply now for home loans
Get estimate of costspopup
- click to go to Mortgage details page
- Refinance
- click to go to Home Equity details page
- click to go to Mortgage details page
- Refinance
- click to go to Home Equity details page
Refinancing can potentially lower your monthly mortgage payment, pay off your mortgage faster or get cash out for that project you've been planning.
To receive your loan estimate, please call one of our lending specialists at 866.466.0979 during our normal operating hours (Mon-Fri 8 a.m. - 10 p.m. ET, Sat 8 a.m. - 6:30 p.m. ET). The loan estimate will tell you what we expect to offer you if you decide to move forward, but does not represent a loan approval.
You can also use our Closing Cost Calculator to estimate your total closing expenses for purchasing a home.
Apply now for refinance
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Refinance payment calculator
Estimate your monthly payment
Thinking about cash out?
If you have available equity in your home, you may be able to get cash at closing with a cash-out refinance loan.
Explore cash-out refinance loans
Estimate your home's value
Want another option? Consider a home equity line of credit
Today's competitive
refinance rates† scroll to rates disclosure
Rates based on a $200,000 loan inZIPcode95464
Mortgage Rates Table
Ratepopup
APRpopup
Pointspopup
Monthly paymentpopup
30-year fixedpopup
Rate X.XXX%
APR X.XXX%
Points X.XXX
Monthly Payment $XXXX
15-year fixedpopup
Rate X.XXX%
APR X.XXX%
Points X.XXX
Monthly Payment $XXXX
5y/6m ARMpopup variable
Rate X.XXX%
APR X.XXX%
Points X.XXX
Monthly Payment $XXXX
About ARM rates
Rates based on a $200,000 loan inZIPcode95464
Mortgage Rates Table
Ratepopup
30 Year Fixed X.XXX%
15 Year Fixed X.XXX%
5y/6m ARM Variable X.XXX%
APRpopup
30 Year Fixed X.XXX%
15 Year Fixed X.XXX%
5y/6m ARM Variable X.XXX%
Pointspopup
30 Year Fixed X.XXX
15 Year Fixed X.XXX
5y/6m ARM Variable X.XXX
Monthly paymentpopup
30 Year Fixed $XXXX
15 Year Fixed $XXXX
5y/6m ARM Variable $XXXX
About ARM rates
Rate
The rate of interest on a loan, expressed as a percentage.
Annual percentage rate (APR)
The annual cost of a loan to a borrower. Like an interest rate, an APR is expressed as a percentage. Unlike an interest rate, however, it includes other charges or fees (such as mortgage insurance, most closing costs, points and loan origination fees) to reflect the total cost of the loan.
Points
An amount paid to the lender, typically at closing, in order to lower the interest rate. Also known as mortgage points or discount points. One point equals one percent of the loan amount (for example, 2 points on a $100,000 mortgage would equal $2,000).
Monthly Payment (estimated)
The estimated monthly payment includes principal, interest and any required mortgage insurance (for borrowers with less than a 20% down payment). The payment displayed does not include amounts for hazard insurance or property taxes which will result in a higher actual monthly payment. If you have an adjustable-rate loan, your monthly payment may change once every six months (after the initial period) based on any increase or decrease in the Secured Overnight Financing Rate (SOFR) index, published daily by the New York Fed. Note: Bank of America is not affiliated with the New York Fed. The New York Fed does not sanction, endorse, or recommend any products or services offered by Bank of America.
Fixed-rate mortgage
A home loan with an interest rate that remains the same for the entire term of the loan.
Adjustable-rate mortgage (ARM)
Also called a variable-rate mortgage, an adjustable-rate mortgage has an interest rate that may change periodically during the life of the loan in accordance with changes in an index such as the U.S. Treasury-Index (T-Bill) or the Secured Overnight Financing Rate (SOFR) published daily by the New York Fed. Bank of America ARMs generally use SOFR as the basis for ARM interest rate adjustments. Note: Bank of America is not affiliated with the New York Fed. The New York Fed does not sanction, endorse, or recommend any products or services offered by Bank of America.
Your monthly payment may fluctuate as the result of any interest rate changes, and a lender may charge a lower interest rate for an initial portion of the loan term. Most ARMs have a rate cap that limits the amount of interest rate change allowed during both the adjustment period (the time between interest rate recalculations) and the life of the loan.
This estimate requires some additional assistance
The details of this estimate requires some additional assistance from one of our loan specialists. Please contact us in order to discuss the specifics of your loan.
We offer a wide range of loan options beyond the scope of this calculator, which is designed to provide results for the most popular loan scenarios.
866.502.9005
Schedule an appointment
866.502.9005
Schedule an appointment
The Preferred Rewards program is our way of rewarding you for what you already do.
Preferred Rewards members may qualify for an origination fee or interest rate reduction based on your eligible tier at the time of application. Depending on your tier, you may be required to enroll in PayPlan from an eligible Bank of America deposit account prior to the loan closing date in order to receive the full program benefit adatext .
Learn more about Preferred Rewards
Fixed-rate refinance loan
Set interest rate for the life of the loan
Your monthly payments of principal and interest remain the same for the life of the loan
Learn more about fixed-rate refinance loans
Adjustable-rate refinance loan
Interest rate may change periodically during the loan term
Your monthly payment may increase or decrease based on interest rate changes
Learn more about adjustable-rate refinance loans
FHA and VA refinance loans
Government loans from the Federal Housing Administration adatext and the U.S. Department of Veterans Affairs adatext
Low down payment options with flexible credit and income guidelines
Learn more about FHA and VA loans
Cash-out refinance loan
If you have available home equity, you could get cash when you close your refinance loan
Fixed-rate and adjustable-rate options available
Learn more about cash-out refinance loans
Top refinance FAQs
- When refinancing my mortgage, can I get extra money at closing so I can pay off other debt?
- How does my credit rating affect my home loan interest rate?
- How long does the whole loan process take?
- See all home mortgage FAQs>
Refinance basics
Switching from an adjustable rate to a fixed rate is a common reason for refinancing.
Refinancing to a fixed rateSwitching from an adjustable rate to a fixed rate is a common reason for refinancing.
Refinancing to a fixed rateBefore you decide if refinancing is the right choice for you, take a look at some of the details.
Refinancing to lower your monthly paymentsBefore you decide if refinancing is the right choice for you, take a look at some of the details.
Refinancing to lower your monthly payments- Learn more about refinancing>
- Learn more about refinancing>
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