What loan types does Bank of America offer?

Bank of America offers the following mortgage loan types: FHA, Conventional, VA, Jumbo. Each product has its own pricing score and performance metrics.

Where does Bank of America offer mortgages?

Bank of America is a national lender offering mortgages in all 50 states plus Washington D.C.

How competitive are Bank of America's mortgage rates?

Bank of America has an overall pricing score of 72.6/100, based on analysis of their loan data including average spread and fees compared to market benchmarks.

What type of lender is Bank of America?

Bank of America is a Bank headquartered in Charlotte, NC.

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Bank of America

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Bank of America's 25.2k closed loans and 36k applications, benchmarked against peer lenders across the 5 Ps of Mortgage Shopping.

Ratings· each scored 1–5 against peer lenders

Pricing

Strong

4/5

vs. all lenders

Pull-through

Strong

4/5

closing strength

Product

Exceptional

5/5

FHA · Conventional · VA · Jumbo

Place

Strong

4/5

National · 49 mkts

Promptness

Mediocre

1/5

No reply within 4+ business days

Awards

Jumbo

Champion

Conventional

Superstar

Purchase

Superstar

Refinance

Superstar

Summary

What They Do Well

Offers rates 17.50 basis points below market average
Lower than average lender fees
Strong pull through performance
High volume lender with significant market experience
Particularly strong in Conventional and FHA and Jumbo loans
Nationwide availability with consistent service

Explore another lender or local market

Report Card

Bank of America performance at a glance

Overall Performance· Pricing & closing strength

Pricing

Rate competitiveness

Strong

Rates 17.5 bps below market avg

Pull Through

Closing strength

Strong

Top 40% of lenders

By Loan Product· Specialization by type

Conventional

Exceptional

Top 20% of lenders

FHA

Strong

Top 40% of lenders

Sound

Top 60% of lenders

Jumbo

Exceptional

Top 5% of lenders

By Loan Purpose· Transaction purpose mix

Purchase

Exceptional

Top 10% of lenders

Refinance

Exceptional

Top 20% of lenders

By Location· Geographic coverage

Geographic Reach

National · 50 markets

Strong

Top 40% of lenders

Loan Product Performance

Performance by Loan Product

Loan Type	Overall	Product	Pricing	Pull Through	Volume	Mix	Spread	Fees
Conventional	Strong	Exceptional	Strong	Strong	19,231	76.5%	-0.113%Below	$1,550Fees
FHA Loans	Sound	Strong	Acceptable	Sound	410	1.6%	+0.540%Above	$3,547Fees
VA Loans	Acceptable	Sound	Acceptable	Acceptable	62	0.2%	-0.061%Below	$3,066Fees
Jumbo Loans	Exceptional	Exceptional	Exceptional	Strong	5,452	21.7%	-0.393%Below	$651Credit

Conventional

Overall

Strong

Product

Exceptional

Pricing

Strong

Pull Through

Strong

Volume19,231

Mix76.5%

Spread

-0.113%Below

Fees

$1,550Fees

FHA Loans

Overall

Sound

Product

Strong

Pricing

Acceptable

Pull Through

Sound

Volume410

Mix1.6%

Spread

+0.540%Above

Fees

$3,547Fees

VA Loans

Overall

Acceptable

Product

Sound

Pricing

Acceptable

Pull Through

Acceptable

Volume62

Mix0.2%

Spread

-0.061%Below

Fees

$3,066Fees

Jumbo Loans

Overall

Exceptional

Product

Exceptional

Pricing

Exceptional

Pull Through

Strong

Volume5,452

Mix21.7%

Spread

-0.393%Below

Fees

$651Credit

Loan Purpose Performance

Performance by Loan Purpose

Purpose	Overall	Product	Pricing	Pull Through	Volume	Mix	Spread	Fees
Purchase	Strong	Exceptional	Strong	Strong	21,658	86.1%	-0.202%Below	$1,118Fees
Refinance	Strong	Exceptional	Strong	Strong	3,497	13.9%	-0.046%Below	$567Fees

Purchase

Overall

Strong

Product

Exceptional

Pricing

Strong

Pull Through

Strong

Volume21,658

Mix86.1%

Spread

-0.202%Below

Fees

$1,118Fees

Refinance

Overall

Strong

Product

Exceptional

Pricing

Strong

Pull Through

Strong

Volume3,497

Mix13.9%

Spread

-0.046%Below

Fees

$567Fees

At a Glance

Lender Overview

Lending Activity

Loans Originated

25,155

Applications

35,609

Volume

$15 billion

Pricing & Closing

Avg Rate Spread

-0.175%

vs. market APOR

Avg Net Fees

$1,021

Origination − Credits

Pullthrough Rate

70.6%

Applications → Closed

Typical Borrower

Avg Loan Amount

$624,215

Avg Borrower Income

$267,789

Avg Property Value

$934,949

Geographic Coverage

Geographic Performance

Metro Areas

markets with activity

States Served

Includes Washington, DC

Avg Place Specialization

Strong

4/5

States with Loan Originations

51Nationwide · all 50 states and DC

Northeast9

CTMEMANHNJNYPARIVT

Midwest12

IAILINKSMIMNMONDNEOHSDWI

South17

ALARDCDEFLGAKYLAMDMSNCOKSCTNTXVAWV

West13

AKAZCACOHIIDMTNMNVORUTWAWY

Top Metro Areas by Place Specialization Score

1© Ben Loomis · CC BY 2.0

San Jose, CAMetro

Volume 1,147Mix 4.56% of portfolio

97/100

Exceptional

2© Basil D Soufi · CC BY-SA 4.0

San Francisco, CAMetro

Volume 515Mix 2.05% of portfolio

95/100

Exceptional

3© Basil D Soufi · CC BY-SA 3.0

Oakland, CAMetro

Volume 978Mix 3.89% of portfolio

94/100

Exceptional

4© chucka_nc · CC BY-SA 2.0

Charlotte, NC-SCMetro

Volume 807Mix 3.21% of portfolio

86/100

Exceptional

Seattle, WAMetro

Volume 595Mix 2.37% of portfolio

85/100

Exceptional

New York, NY-NJMetro

Volume 816Mix 3.24% of portfolio

83/100

Exceptional

Bridgeport, CTMetro

Volume 207Mix 0.82% of portfolio

82/100

Exceptional

Los Angeles, CAMetro

Volume 709Mix 2.82% of portfolio

81/100

Exceptional

Chicago, ILMetro

Volume 814Mix 3.24% of portfolio

80/100

Strong

Dallas, TXMetro

Volume 677Mix 2.69% of portfolio

79/100

Strong

Showing 10 of 49 metro areas

Top States by Place Specialization Score

CaliforniaState

Volume 5,011Mix 19.92% of portfolio

87/100

Exceptional

New JerseyState

Volume 1,086Mix 4.32% of portfolio

85/100

Exceptional

New YorkState

Volume 1,433Mix 5.70% of portfolio

83/100

Exceptional

WashingtonState

Volume 957Mix 3.80% of portfolio

83/100

Exceptional

TexasState

Volume 2,075Mix 8.25% of portfolio

81/100

Exceptional

IllinoisState

Volume 1,025Mix 4.07% of portfolio

80/100

Exceptional

North CarolinaState

Volume 1,494Mix 5.94% of portfolio

79/100

Strong

FloridaState

Volume 2,030Mix 8.07% of portfolio

79/100

Strong

South CarolinaState

Volume 600Mix 2.39% of portfolio

79/100

Strong

GeorgiaState

Volume 926Mix 3.68% of portfolio

78/100

Strong

Showing 10 of 48 states

How We Rank Lenders

Our rankings use an equal-weight average of scores across our core categories (Pricing, Product, Pull-Through, Place), with lender promptness blended in when a lender has responded to real shopper quote requests.

Our Point System (Max 30 Points)

10/ 30 pts

Pricing

Rate and fee competitiveness (33%)

10/ 30 pts

Pull Through

Reliability in closing loans (33%)

10/ 30 pts

Product

Specialization in the loan type (33%)

💎

Champion(80%+ = 24-30 points)

⭐

Superstar(60-79% = 18-23 points)

Data Integrity & Updates

Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.

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The 5 PsRankings are calculated from observed lender differences on closed loans across Pricing, Pull-through, Product, and Place, plus Promptness when a lender has answered real shopper quote requests.

No Pay to PlayLenders cannot buy their way to the top. Rankings are 100% earned.

HMDA 2024Built using publicly available originated loan data from the federal government.

Peer BenchmarkedPerformance is normalized and benchmarked against peer institutions.