Bank of America Sign in Show/Hide Menu related links Mortgage Refinance Ready to Refinance? We are here to help. Get started with the Bank of America Digital Mortgage Experience® Apply now for home loans Get estimate of costs layer click to go to Mortgage details page Refinance click to go to Home Equity details page Refinancing can potentially lower your monthly mortgage payment, pay off your mortgage faster or get cash out for that project you've been planning. Today's low refinance rates† scroll to rates disclosure Rates based on a $200,000 loan in ZIP code 95464 Home value * Home value $ Estimate your home value Current loan balance * Current loan balance $ Balance left on your mortgage ZIP code * Input zip code Update rates Mortgage Rates Table Rate layer APR layer Points layer Monthly payment layer 30-year fixed layer Rate 3.250% APR 3.376% Points 0.564 Monthly Payment $870 15-year fixed layer Rate 2.375% APR 2.619% Points 0.711 Monthly Payment $1,322 5y/6m ARM layer variable Rate 2.375% APR 2.755% Points 0.721 Monthly Payment $777 About ARM rates Refinance rates valid as of 23 Nov 2021 03:47 p.m. Central European Standard 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 5y/6m ARM, 7 years for a 7y/6m ARM and 10 years for a 10y/6m ARM; the 6m shows that the interest rate is subject to adjustment once every six months thereafter). Select the About ARM rates link for important information, including estimated payments and rate adjustments. Loan assumptions and disclosures † Important rate and payment information Preferred Rewards members may qualify for an origination fee or interest rate reduction based on your eligible tier at the time of application. Depending on your tier, you may be required to enroll in PayPlan from an eligible Bank of America deposit account at least 10 days prior to loan closing in order to receive the full program benefit Footnote 1. Learn more about Preferred Rewards See all the types of refinance loans we offer , closed Refinance payment calculator Estimate your monthly payment Thinking about cash out? If you have available equity in your home, you may be able to get cash at closing with a cash-out refinance loan. Explore cash-out refinance loans Estimate your home's value Want another option? Consider a home equity line of credit Home buying just got easier The Bank of America Digital Mortgage Experience® puts you in control. Prequalify to estimate how much you can borrow, apply for a new mortgage, or refinance your current home. All with customized terms that meet your needs. 0:00 / 0:00 View Transcript Top refinance FAQs When refinancing my mortgage, can I get extra money at closing so I can pay off other debt? How does my credit rating affect my home loan interest rate? How long does the whole loan process take? See all home mortgage FAQs > Refinance basics Switching from an adjustable rate to a fixed rate is a common reason for refinancing. Refinancing to a fixed rate Before you decide if refinancing is the right choice for you, take a look at some of the details. Refinancing to lower your monthly payments Learn more about refinancing > Connect with a lending specialist 866.502.9005 Monday to Friday 8 a.m. to 10 p.m. Eastern Time Mon-Fri 8 a.m.–10 p.m. ET Saturday 8 a.m. to 6:30 p.m. Eastern Time Sat 8 a.m.-6:30 p.m. ET Schedule an appointment Important Disclosures and Information The origination fee reduction and/or interest rate reductions are offered to clients who are enrolled or are eligible to enroll in Preferred Rewards, based on their asset tier at the submittal of a loan application for a new purchase or refinance loan (for co-borrowers, at least one applicant must be enrolled or eligible to enroll). Amount of the origination fee reduction ($200 for Gold tier, $400 for Platinum tier and $600 for Platinum Honors tier) and the interest rate reduction (0.250% for Diamond tier, 0.375% for Diamond Honors tier) are based on the asset tier at the submittal of the mortgage application and are not subject to adjustment after the application is submitted. The origination fee reduction will not exceed the amount of the Lender Origination Fee. In order to receive the full Diamond and Diamond Honors interest rate reduction (0.250% for Diamond tier and 0.375% for Diamond Honors tier) you must have an eligible loan (most conforming and nonconforming loans) and enroll in PayPlan using a Bank of America deposit account at least 10 days prior to loan closing. If PayPlan enrollment is not completed 10 days prior to loan closing, or if the loan is a product ineligible for PayPlan (like FHA loan products and PrimeFirst®), you will receive a 0.125% interest rate reduction benefit for Diamond and Diamond Honors tiers. For adjustable rate mortgages (except PrimeFirst), the discounts are applied to the interest rate only during the initial fixed-rate period. For PrimeFirst adjustable rate mortgages, the discount is applied to the margin and cannot reduce the margin below 0%. Eligibility will be determined three or more business days after the day the requirements are satisfied. Some reward benefits cannot be combined with other offers. All mortgage interest rate reduction offers are subject to a maximum interest rate reduction limit. For details on requirements, visit the Preferred Rewards section of the Personal Schedule of Fees. Benefit is non-transferable. Monthly Mortgage Insurance Premiums (MIP) and Upfront Mortgage Insurance Premiums (UFMIP) apply. Maximum loan amounts vary by county. Bank of America offers FHA refinance loans to existing Bank of America home loan clients only. VA funding fee applies except as may be exempted by VA guidelines. Maximum loan limits vary by county. Loan-to-value and cash-out restrictions apply. Ask for details about eligibility, documentation and other requirements. Bank of America offers VA refinance loans to existing Bank of America home loan clients only. 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