• Sample APR assumes a new $100,000 HELOC in second lien position with a combined loan-to-value (CLTV) ratio of up to 70% on a 1- to 4-unit owner-occupied primary residence and a borrower with excellent credit.
• Sample APR includes the following discounts:
  
  (1) an “auto pay” discount of 0.25% for setting up automatic payment (at or prior to HELOC account opening) and maintaining such automatic payments from an eligible Bank of America deposit account
  
  (2) an “initial draw” discount of {{ percentage rates.product.udeDiscountRate }} for drawing a minimum of $60,000 at HELOC account opening and maintaining a minimum balance of $60,000 for at least the first 3 full billing cycles (less any required principal payments)
  
  (3) a “relationship” discount of {{ params.preferredRewardsRateDiscount }}, which assumes eligibility for the Preferred Rewards {{ params.preferredType }} at the time of application
• Sample APR may vary based on initial draw, property value, property location, line amount and other factors.

• Variable APR is based on The Wall Street Journal Prime Rate (“Prime”) ({{{ percentage rates.wsjIndex }}} on {{{ date rates.product.effectiveDate }}}) plus a margin, and will vary with Prime. Your APR will not exceed 24% or go below 1.99% at any time during the term of your account. Prime may change at any time and is subject to change without notice.
• The term of a HELOC is 30 years: 10-year draw period, 20-year repayment period.
• Property insurance is always required and flood insurance is required where necessary.
• Certain property types are not eligible collateral.
• The variable minimum monthly payment will be an amount sufficient to repay the outstanding balance in principal and interest payments over the remaining term at the applicable APR, subject to a minimum payment of at least $100.
• The minimum line amount is $25,000. The maximum line amount is $1,000,000 for primary residences and $500,000 for second/vacation homes. Certain eligibility requirements and restrictions apply for line amounts greater than $500,000; ask us for details.
• Bank of America pays all closing costs on lines up to and including $1,000,000. If you terminate your account within 36 months of opening it, you will be required to pay an Early Closure Fee consisting of (1) a $450 base fee, plus (2) any mortgage and government taxes, recording fees, and any closing agent or attorney fees Bank of America paid on your behalf. The combined amount of all third party fees for a line of credit generally total between $456.10 ($25,000 line) and $23,879.10 ($1,000,000 line), and in New York $778.60 ($25,000 line) and $34,413.10 ($1,000,000 line).

Additional Information for HELOCs in Texas subject to Section 50(a)(6) of the Texas Constitution: Early Closure Fee does not apply. The minimum advance amount on the HELOC is $4,000, maximum CLTV is 80% and maximum LTV is 80%. Access to the HELOC account using an ATM card or other access cards is not allowed.