April 2014 The Greater Toronto Area Collection | Page 65
Home financing to fit your lifestyle
Choose what’s right for you
We have special loans and programs that can help you with your
next home purchase. So if you have complex sources of income,
need to maximize your cash flow or want to keep more liquid assets,
we may have a program that’s right for you, including:
1
• Jumbo loan amounts up to $5 million (owner-occupied properties) 2
• Competitive rates on both fixed- and adjustable-rate loans
• Special financing for vacation/second homes
• Doctor Loans for medical professionals with as little as 5% down
on mortgages up to $850,000 3
• Preferred & Platinum Privileges® customers can take advantage
of lower interest rates and a potentially more streamlined
loan process 4
Get the one-on-one support you’re looking for from our dedicated
mortgage loan officers.
Learn more by contacting a member of the
Bank of America Concierge team at: 1.866.596.2918
1A jumbo loan is a mortgage that exceeds the general conforming loan limit of $417,000 within the continental United States. Expanded conforming loan limits up to $625,500 are available in federally designated high-cost areas within these
states. The general conforming loan limit for Alaska and Hawaii is $625,500. Expanded conforming loan limits are available up to $938,250 in federally designated high-cost areas within these states.
2For loan amounts greater than $2 million and less than or equal to $3 million, borrower must provide documentation of reserves totaling a minimum of 24 months of principal, interest, taxes, insurance (homeowners, hazard, mortgage insurance,
etc.) and assessments (homeowners association fees/dues/special assessments) related to subject loan/property. For loan amounts greater than $3 million, the same reserves are required and must be held in a Bank of America and/or Merrill
Lynch account. Two separate full appraisals are required. Good or excellent credit required, including proof of recent consistent mortgage payment history. Loan to value, cash out limits, and property type restrictions apply, ask for details. Not
available on all loan programs. Other restrictions apply.
3Restrictions apply. An applicant must have, or open prior to closing, a banking relationship with Bank of America, which can be, at a minimum, a checking or savings account.
4You automatically enjoy status in the Platinum Privileges® program if you have an active Bank of America checking account and maintain at least $50,000 as a combined balance in your Bank of America deposit accounts and/or your Merrill Edge
brokerage accounts. As of June 30, 2013, we will no longer enroll customers into the Platinum Privileges program in the states of KS, MO, NV, SC and WA. Mortgage: Speak to your Mortgage Loan Officer for more details about this home loan
relationship benefit. This relationship benefit is only valid for Bank of America customers who are eligible for Preferred Reward 27FGW2BF