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Information for First-time Homebuyers

Buying your first home can be exciting and overwhelming all at the same time – which is why we have a variety of tools and resources to help you through the experience. Whether you’re just starting to save or you already have a house in mind, we can help you get your keys to your first home.

Learn about the home-buying process

Buying a Home: Your 5-step Guide
Buying a home: Your 5-step guide See what to expect throughout the home buying process.
Understanding Various Types of Mortgages
Understanding various types of mortgages Knowing your options helps you choose the right mortgage.
Mortgage Prequalification vs. Preapproval
Mortgage prequalification vs. preapproval Find out how much house you can borrow before you start looking.
How to Apply for a Mortgage
How to apply for a mortgage Found a home? It's time to gather documents and lock in your rate.

Tools and Resources

Tools and Resources

From home mortgage calculators to resources like our Home Loan Navigator®, we're ready to help you every step of the way – from application to closing.
Bank of America First-Time Homebuyer Online Edu-Series™

Take the mystery out of buying your first home with our First-Time Homebuyer Online Edu-Series featuring Bank of America specialists with Buzzfeed's Hannah Williams.

Once registered, you'll get access to videos that you can watch on demand, whenever you want wherever you want. Plus, each video comes with useful resources and tools to help make homebuying easier.

Our most popular home loan options:

Fixed-rate mortgages

  • Set interest rate for the life of the loan

  • Your monthly payments of principal and interest remain the same for the life of the loan

Adjustable-rate mortgages (ARMs)

  • Interest rate may change periodically during the loan term

  • Your monthly payment may increase or decrease based on interest rate changes

Affordable Loan Solution® mortgage

  • Down payment as low as 3% (income limits apply) Footnote [3]

  • For modest-income borrowers

FHA & VA loans

  • Government loans from the Federal Housing Administration Footnote [4] and the U.S. Department of Veterans Affairs Footnote [5]

  • Low down payment options with flexible credit and income guidelines

Prequalify now with the Bank of America Digital Mortgage Experience®
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