At Bank of America, we’re helping you understand the mortgage process and helping you to know where you stand every step of the way. That’s why we offer helpful resources like our Clarity Commitment® documentFootnote 1. It’s a simple, one-page summary of key loan terms written in plain language, so you can understand what you’re getting.
What is the Clarity Commitment®?
We believe working with a lender you trust is important. That’s why we created the Clarity Commitment® document.
How to use your Clarity Commitment®
You’ll receive the Clarity Commitment®
document at the beginning of the loan process along with your welcome package and then once again at closing when your final home loan numbers are available.
You can use your Clarity Commitment® document as a guide when reviewing the other documents in your application package. For example, you can compare your Clarity Commitment® document to your Glossary Term: Good Faith Estimate that you will have received five to 10 business days after submitting your completed loan application to your lender. This comparison can help you be sure that all the key terms of your mortgage are what you expect them to be.
A home loan is not just about getting the best deal—it’s about getting the right loan with no surprises. Our Clarity Commitment® document can help make sure you’re informed, prepared, and confident throughout the home loan process.