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Log outMortgage Calculator Bank of America | See This Week’s Rates
There are a few things you should check before using the Bank of America Mortgage Calculator.
Having more options to compare can often lead to a better decision.
Freddie Mac research supports this idea: Homebuyers who received mortgage quotes from at least four lenders could save more than $1,200 per year. Rather than settling for the first offer, it pays to compare rates, fees and loan terms carefully.
Still, reviewing multiple lenders can be complicated and time-consuming.
To make mortgage shopping easier, Loaning.ai compared Bank of America’s key loan products with Loaning.ai offers under similar conditions. Let’s take a closer look at how the rates and overall borrowing costs compare.
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Mortgage Calculator Bank of America : Overview
Enter the home’s purchase price, your down payment, and the property ZIP code, then click “Update rates” to view available mortgage options. The calculator will show estimated rates, APRs, points, and monthly payments based on the information entered. Actual terms may vary depending on your credit profile, property details, and final underwriting.
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Bank of America Mortgage Rates and fees
Under the assumptions shown, Bank of America’s 30-year fixed mortgage rate is 6.750%, the 20-year fixed rate is 6.500%, and the 15-year fixed rate is 5.875%. Estimated monthly payments range from $1,297 to $1,674, while the applicable points and APR vary by loan term. These figures are based on a $200,000 loan and an excellent-credit borrower profile, so actual pricing may differ.
30-year fixed
20-year fixed
15-year fixed
Rates shown are valid as of July 10, 2026, at 11:13 PM Korea Standard Time.
The examples are based on a $200,000 mortgage loan and assume the borrower has excellent credit, including a credit score of 740 or higher. Estimated monthly payments include principal, interest and, when applicable, required mortgage insurance.
Points costs were calculated by multiplying the displayed points percentage by the $200,000 loan amount: 0.690 points equals $1,380, 0.894 points equals $1,788 and 0.940 points equals $1,880.
Property taxes, homeowners insurance, HOA dues, closing costs and prepaid expenses may not be included in the displayed monthly payment. Actual rates, APRs, payments, points and costs may vary based on the borrower, property, loan amount, location, loan program and final underwriting results.
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What Your Monthly Mortgage Payments Could Be With Bank of America Mortgage Rates
While the interest rate and APR of your Bank of America are an important part of determining how much you’ll owe, the value of your home is also important in determining your monthly payment. Your home value can be used to determine your down payment, closing costs, loan amount and more. It’s up to the person taking out a mortgage to determine how much of a down payment they’d like to make.
Here’s what you’re likely to pay over the life of a couple different mortgage options from Bank of America’s Mortgage. There are lots of variables that go into accurately determining this number, so its reasonable to expect slightly different results.
| Mortgage | Interest Rate | Loan Size | Your Payments |
|---|---|---|---|
| 30-Year Fixed | 6.750% | $200,000 | $1,297/month for 30 years |
| 20-Year Fixed | 6.500% | $200,000 | $1,491/month for 20 years |
| 15-Year Fixed | 5.875% | $200,000 | $1,674/month for 15 years |
These payment examples are based on a $200,000 mortgage loan and assume the borrower has excellent credit, including a credit score of 740 or higher. Estimated monthly payments include principal, interest and, when applicable, required mortgage insurance.
Property taxes, homeowners insurance, HOA dues, closing costs and prepaid expenses may not be included. Actual rates, APRs, points, monthly payments and available terms may vary based on the quote date, borrower qualifications, property details, location and final underwriting results.
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How Bank of America Mortgage Rates Compares to Other Lenders
Bank of America Mortgage offers competitive rates compared with many lenders. However, in the same-condition comparison shown below, Loaning.ai provides a lower rate and lower upfront points or credits. As an online mortgage lender, Loaning.ai may be able to operate with lower overhead than lenders that maintain extensive branch networks, though actual pricing depends on each borrower’s profile and loan details. Compare the rates for yourself below.
30-year fixed
Bank of America
FixedLoaning.ai
FHA15-year fixed
Bank of America
FixedLoaning.ai
FHAThe displayed Bank of America examples are based on a $200,000 mortgage loan and assume excellent credit, including a credit score of 740 or higher. The estimated monthly payments may include principal, interest and, when applicable, required mortgage insurance.
Bank of America points costs were calculated using the displayed $200,000 loan amount. For the 30-year example, 0.690 points equals $1,380. For the 15-year example, 0.940 points equals $1,880.
The Loaning.ai figures are separate FHA loan estimates based on the assumptions used for each displayed quote. Their monthly payments may include principal, interest, upfront mortgage insurance reflected in the estimate and monthly Mortgage Insurance Premium.
Because the Bank of America and Loaning.ai examples may use different loan amounts, mortgage programs, insurance structures and pricing assumptions, the displayed monthly payments and upfront costs should not be interpreted as a like-for-like comparison of identical loans.
Property taxes, homeowners insurance, HOA dues, prepaid expenses and closing costs may not be included. Actual rates, APRs, monthly payments, points and costs may vary based on the quote date, credit profile, loan amount, down payment, property details, location, selected program, rate-lock period and final underwriting results.
Legal Disclosures
The rates and payment examples shown above are provided for illustrative and comparison purposes only. They are not a commitment to lend, a rate lock, an approval, or a guarantee of available loan terms.
Important comparison note: The Bank of America and Loaning.ai examples were generated using different loan amounts, loan programs and pricing assumptions. The displayed rates, APRs, monthly payments and upfront costs should therefore not be treated as a direct, like-for-like comparison of identical mortgage products.
Bank of America assumptions: The Bank of America figures are purchase mortgage examples based on a $200,000 loan amount and assume a borrower with excellent credit, including a credit score of 740 or higher. The displayed monthly payments include estimated principal, interest and, when applicable, required mortgage insurance.
Property taxes, homeowners insurance, HOA dues, closing costs, prepaid expenses and other housing-related costs may not be included in the displayed Bank of America monthly payments.
- 30-year Bank of America fixed: 6.750% interest rate, 6.967% APR, $1,297 estimated monthly payment and 0.690 points.
- 15-year Bank of America fixed: 5.875% interest rate, 6.259% APR, $1,674 estimated monthly payment and 0.940 points.
Bank of America points costs were estimated by multiplying the displayed points by the $200,000 loan amount. Under this assumption, 0.690 points equals approximately $1,380 and 0.940 points equals approximately $1,880. These amounts represent estimated discount-point costs and are not lender credits, cash back or refunds.
Loaning.ai assumptions: The Loaning.ai figures shown are separate FHA mortgage estimates based on the borrower and property information entered when the quotes were generated. The displayed monthly payments may include estimated principal, interest, upfront mortgage insurance reflected in the estimate and monthly Mortgage Insurance Premium (MIP).
Loaning.ai monthly payment estimates exclude property taxes, homeowners insurance, HOA dues, closing costs, prepaid expenses and other costs unless expressly stated otherwise in the displayed quote.
- 30-year Loaning.ai FHA fixed: 5.750% interest rate, 5.856% APR, $1,746.70 estimated monthly payment and 0.250 points, equal to approximately $687.50 based on the displayed quote.
- 15-year Loaning.ai FHA fixed: 5.500% interest rate, 5.638% APR, $2,398.17 estimated monthly payment and 0.000 points, equal to $0.00.
FHA loans generally require an upfront Mortgage Insurance Premium and an annual Mortgage Insurance Premium collected through monthly installments. The amount and duration of mortgage insurance may vary based on the loan term, loan amount, loan-to-value ratio and applicable FHA requirements.
The interest rate and APR are different measures. The interest rate reflects the cost of borrowing the principal, while the APR may include the interest rate, discount points and certain lender or loan charges. Points and lender credits may affect both the interest rate and the amount due at closing.
Actual rates, APRs, monthly payments, discount points, lender credits, mortgage insurance, closing costs and eligibility may vary based on market conditions, quote date and time, credit history, income, assets, debt obligations, loan amount, purchase price, down payment, LTV, occupancy, property type, location, selected loan program, rate-lock period, escrow requirements and final underwriting results.
The Bank of America figures reflect the rates displayed on July 10, 2026, at 11:13 PM Korea Standard Time. Loaning.ai figures are based on the estimates displayed when the comparison was prepared. Consumers should request and review an official Loan Estimate from each lender before selecting a mortgage.
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* All rates are based on a $1,000,000 home price and a $700,000 loan amount.
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