Applying for a Bank of America loan requires knowing which loan type fits your goal.
Below you’ll find a step-by-step guide to apply for them.
Where exact rates change daily (like mortgages), use the bank’s official rate pages or call the numbers provided to confirm the latest terms.
What Bank of America Offers
Bank of America lends in several categories.
Home loans (mortgage and home equity), auto loans (new, used, refinance, and lease buyout), and small business loans (secured and unsecured).
For short-term cash needs, eligible checking customers can use Balance Assist® (up to $500 for a $5 flat fee).
Bank of America does not offer large unsecured personal loans; if you’re looking for that product, consider alternatives or secured options.
Example Interest Rates You Can Expect
Auto loans (consumer) have rates “as low as” 5.44% APR (new), 5.64% APR (used), and 6.04% APR (refinance/lease buyout).
Small business unsecured term loans have fixed rates “as low as” 6.50% (example reference point; subject to change).
Mortgage rates change daily by ZIP code, down payment, credit, and product type (fixed and ARMs).
Balance Assist® borrows up to $500 for a $5 flat fee, repaid in three monthly installments (eligibility rules apply).
Tip: Because mortgage pricing is highly dynamic, check the “Today’s mortgage rates” tool on the Bank of America site for your ZIP code so you’re using current numbers.
How to Apply Online for Bank of America Loans
Higher credit scores and a lower debt-to-income ratio typically qualify you for better rates (especially for auto and small business).
Be ready with recent pay stubs or tax returns, bank statements, and details on the vehicle or property.
Preferred Rewards clients may qualify for a rate or fee reduction on certain loans—ask how your status applies.
Once you’ve chosen a product, discuss locking your rate to protect against market moves during processing.
Auto loans (new, used, refinance, lease buyout)
Go to the Auto Loans section and select Get prequalified or Apply.
Submit your application with vehicle details, income, and employment information; you can often e-sign closing documents online.
If approved, finalize with the dealer (for new/used) or complete payoff steps (for refinance or lease buyout).
Mortgages (purchase or refinance)
Open the mortgage rates page, enter your ZIP code, purchase price, and down payment to view rates specific to your scenario.
Choose a product (30-year fixed, 15-year fixed, ARM) and start the application.
Track your file and upload documents through Home Loan Navigator® using your login (Online Banking credentials).
Home equity (HELOC / fixed-rate options)
Start a new home equity application online.
If you need help comparing a line of credit to a fixed-rate option, call the loan department for Home Equity at the numbers below.
Small business loans
Review secured and unsecured term loans and lines of credit for qualifications, “as low as” rates, and collateral needs.
Apply online, then work with a small-business specialist to finalize terms and funding.
Balance Assist® (short-term, existing customers)
From your Bank of America checking account, check eligibility (generally requires an established relationship).
Apply for up to $500; repay in three equal monthly payments with a $5 total fee.
Login and Tracking Your Application
Sign in with your Online Banking credentials to manage loans, upload documents, and check application status.
Home Loan Navigator® shows mortgage milestones, requested paperwork, and your closing checklist.
If you aren’t enrolled yet, select Enroll, then use your login to track everything in one place.
Making a Bank of America Loan Payment
Mortgage/Home equity: Make one-time or recurring payments in Online Banking or the mobile app.
You can also make principal-only payments, manage escrow, and request payoff statements.
Auto loans: Make a one-time payment or set up automatic/recurring payments from a Bank of America or external checking account via Bill Pay.
Small business loans and lines: Use Business Advantage 360 (online or mobile) to schedule recurring payments and monitor balances.
Prefer scheduling in advance? Online Bill Pay lets you set one-time or recurring payments to post on the date you choose.
Key Tools and Calculators
Auto Loan Calculator estimates monthly payments and compares scenarios by amount, APR, and term—useful when shopping or negotiating with a dealer.
Search for on the Auto Loans page.
The mortgage rate tool uses your ZIP, purchase price, and down payment to see today’s pricing for your area and loan type.
Affordability and payment estimators explore how down payment, interest rate, and term affect your monthly payment before you apply.
Contacting the Bank of America Loan Department
New mortgage applications: 800-270-5746 (Mon–Fri 8 a.m.–10 p.m. ET; Sat 8 a.m.–6:30 p.m. ET)
Existing mortgages: 800-669-6607 (Mon–Fri 8 a.m.–9 p.m. ET)
New home equity applications: 800-779-3894
Bank of America Corporate Center 100 North Tryon Street, Charlotte, NC 28255
Frequently Asked Questions
Can I apply without an existing account?
- Yes—many products allow you to apply as a new customer and create an Online Banking profile later for your login and document uploads.
Where do I find “Bank of America loan department” contacts?
- Use the contact numbers above and select the line that matches your product: mortgage, home equity, auto, or small business.
Does Bank of America have personal loans?
- Not large unsecured personal loans. The bank offers mortgages, home equity, auto, and small-business loans, plus Balance Assist® ($500 for a $5 fee) for eligible checking customers.
Conclusion
Auto and small-business pages show “as low as” APRs you can use as guideposts, while mortgage rates are tailored to your ZIP code and profile.
Apply online, then use your Bank of America loan login to upload documents and track progress.
When it’s time to pay, Online Banking makes payment easy—one-time, principal-only, or recurring—so you stay on track.
Disclaimer: Rates, fees, and product availability change frequently and vary by applicant profile, location, and loan type. Always confirm current terms on Bank of America’s official pages or by calling the appropriate loan department before you apply. This article is for general information only and is not financial advice.
