Bank of America Mortgage Calculator
Estimate your monthly Bank of America mortgage payment at current rates. Free, no signup.
fin·calc is an independent, unaffiliated calculator — not endorsed by, sponsored by, or affiliated with Bank of America. "Bank of America" is used only to describe typical rates and terms; confirm actual terms directly with the bank.
Bank of America mortgage rate
| Lender | Typical rate | Max term |
|---|---|---|
| Bank of America | 6.55% p.a. | up to 30 years |
Reference 2026; 30-yr fixed. Your rate depends on your profile and deposit — verify with the bank.
Worked example
Example: $400,000 Bank of America mortgage at 6.55% for 30 years.
- Monthly payment: $2,541
- Total interest: $514,918
- Total payable: $914,918
Frequently Asked Questions
What is the Bank of America mortgage rate?
Bank of America mortgage rates are around 6.55% p.a. as a 2026 reference. Reference 2026; 30-yr fixed. Your exact rate depends on your profile and deposit.
How is the Bank of America monthly payment calculated?
Using the reducing-balance formula on the financed amount. Enter your amount, rate and term in the calculator above.
How much deposit do I need?
A larger deposit lowers your rate and total cost. Most lenders also add valuation, legal and registration fees on top of the deposit.
Can I reduce the total cost?
Yes — a bigger deposit, shorter term, and extra/early repayments all cut total interest. Check for any early-repayment charges first.
Bank of America's Current Mortgage Rates (September 2026)
Bank of America's own mortgage-rates page serves rates dynamically based on the borrower's ZIP code, loan amount, and credit profile. Because the quote is personalised, check your own ZIP-code quote on Bank of America's mortgage-rates page; fin·calc does not show a single Bank of America headline rate here.
For comparison, the Freddie Mac PMMS national 30-year fixed average was 6.76% for the week ending September 10, 2026 and 7.40% on October 15, 2026. Existing customers can also use Bank of America's Preferred Rewards discount program, which can shave up to 0.375 percentage points off a quoted rate for existing relationship customers.
Worked Example: $350,000 Loan at an Illustrative Rate Using 6.37% on a $350,000, 30-year fixed loan: r = 0.0637/12 = 0.0053083, n = 360.- (1+r)n = 1.0053083360 ≈ 6.7258
- M = 350,000 × 0.0053083 × 6.7258 / (6.7258 − 1) ≈ $2,182/month
Over 30 years that's roughly $785,500 in total payments — about $435,500 of it interest.
Frequently Asked Questions
What mortgage rate does Bank of America currently advertise?
Bank of America doesn't post one fixed headline rate — it generates a quote based on your ZIP code and credit profile. Check your personalised quote on Bank of America's mortgage-rates page; for context, Freddie Mac's national 30-year fixed average was 7.40% in its October 15, 2026 survey.
What is Bank of America's Preferred Rewards mortgage discount?
Existing Bank of America/Merrill customers who qualify for Preferred Rewards tiers can receive an interest-rate discount of up to 0.375 percentage points on a new purchase or refinance mortgage.
How did Bank of America's rate compare to the national average in September 2026?
Bank of America publishes personalised quotes rather than one headline rate, so compare your quote with Freddie Mac's weekly PMMS national average (7.40% for a 30-year fixed on October 15, 2026).