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Builder Rate Lock Advantage™

Lock in your rate while your home is being built

With our Builder Rate Lock Advantage™, you can:
  • Protect against rising interest rates for up to 12 months during construction adatext
  • Enjoy a one-time “float down” option to lower the interest rate or discount points, or both adatext
  • Choose from a variety of financing options
How to finance a new construction home:
Depending on your situation, you may need to get a separate construction loan while your home is being built, and then transfer to a permanent mortgage with Bank of America for end financing when your home is complete. By locking in your long-term rate with us, you'll know what your final mortgage interest rate and payment will be.

Resources for new homebuyers

Bank of America Real Estate Center®

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Down Payment and closing cost help

Visit our Down Payment Center to find programs in your state for modest-income and first-time homebuyers.

Connect with a lending specialist near you