Skip to main content

Mortgage Refinance

Please wait a moment while we retrieve our low rates

 

failure

Refinancing your mortgage is a way to potentially lower your interest rate and monthly mortgage payment.

Today's low refinance ratesToday's low refinance rates

Rates based on a $200,000 loan in ZIP code 95464

$ 

Estimate your home value

$ 

Balance left on your mortgage

30-year fixed layer

Rate X.XXX%

APR X.XXX%

Points X.XXX

Monthly Payment $XXXX

15-year fixed layer

Rate X.XXX%

APR X.XXX%

Points X.XXX

Monthly Payment $XXXX

5/1 ARM layer variable

Rate X.XXX%

APR X.XXX%

Points X.XXX

Monthly Payment $XXXX

Refinance rates valid as of date/time and assume borrower has excellent credit (including a credit score of 740 or higher). Estimated monthly payments shown include principal, interest and (if applicable) any required mortgage insurance. ARM interest rates and payments are subject to increase after the initial fixed-rate period (5 years for a 5/1 ARM, 7 years for a 7/1 ARM and 10 years for a 10/1 ARM). Select the About ARM rates link for important information, including estimated payments and rate adjustments.

Rates based on a $200,000 loan in ZIP code 95464

$ 

Estimate your home value

$ 

Balance left on your mortgage

 

30-year fixed layer

15-year fixed layer

5/1 ARM layer variable

30 Year Fixed X.XXX%

15 Year Fixed X.XXX%

5/1 ARM Variable X.XXX%

30 Year Fixed X.XXX%

15 Year Fixed X.XXX%

5/1 ARM Variable X.XXX%

30 Year Fixed X.XXX

15 Year Fixed X.XXX

5/1 ARM Variable X.XXX

30 Year Fixed $XXXX

15 Year Fixed $XXXX

5/1 ARM Variable $XXXX

Refinance rates valid as of date/time and assume borrower has excellent credit (including a credit score of 740 or higher). Estimated monthly payments shown include principal, interest and (if applicable) any required mortgage insurance. ARM interest rates and payments are subject to increase after the initial fixed-rate period (5 years for a 5/1 ARM, 7 years for a 7/1 ARM and 10 years for a 10/1 ARM). Select the About ARM rates link for important information, including estimated payments and rate adjustments.

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).

Estimated monthly payments

The estimated monthly payment includes principal, interest and any required mortgage insurance (for borrowers with less than a 20% down payment). The payment shown here does not include amounts for hazard insurance or property taxes, which will result in a higher actual monthly payment. After the initial fixed-rate period, the interest rate can increase or decrease annually based on the then-current London Interbank Offered Rate (LIBOR) index, which will impact your monthly payment.

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. Prime Rate or the London Interbank Offered Rate (LIBOR). Bank of America ARMs use LIBOR as the basis for ARM interest rate adjustments.

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.

Our calculator is unable to display your results

We're unable to display rates at this time. We apologize for any inconvenience. Our experienced lending specialists are ready to help you with your financing needs:

Preferred Rewards customers may qualify for a reduction of $200-$600 in the mortgage origination fee (based on your eligible balances at the time of application).

Learn more about Preferred Rewards

See all the types of refinance loans we offer

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

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

FHA and VA refinance loans

  • Government loans from the Federal Housing Administration and the U.S. Department of Veterans Affairs

  • Low down payment options with flexible credit and income guidelines

Cash-out refinance loan

  • If you have available home equity, you could get cash upfront when you close your refinance loan

  • Your monthly payment depends on whether you choose a fixed-rate or adjustable-rate option for your new mortgage

Refinance payment calculator

Thinking about cash out?

If you have available equity in your home, you could get cash at closing with a cash-out refinance loan.

Learn more about cash-out refinance loans

Estimate your home's value

Your home loan made easy

Start online

Prequalify for your dream home, or submit your application through the Bank of America Digital Mortgage Experience™. We help make the process easy and simple.

Work with a specialist

Our experienced lending specialists — rated 4.9 stars out of 5 on Zillow as of 9/20/18 by thousands of customers like you — will help you every step of the way.

Prepare for closing

Submit your documents securely online using the Home Loan Navigator®.

Keep up to date on the status of your application and view any action items throughout the process.

Home buying just got easier

Bank of America’s Digital Mortgage Experience™ puts you in control. Apply for a new mortgage or refinance your current home with customized terms that meet your needs. See for yourself.

Refinance basics

Talk to
Talk to your lending specialist
your lending specialist:
from your lending specialist:

Connect with a lending specialist:

NMLS ID:
Change lending specialist
Find another loan officer to help you with a mortgage refinance.

Connect with a lending specialist

Get a call back layer