It's easier to grow your business when you have the right tools, resources and support. That's where Bank of America can help. Our National Builder Division is a dedicated leadership team with a network of mortgage specialists who are focused on new construction lending. Here are some of the ways we can support you and your homebuyers every step of the way.
The National Builder Division offers:
A network of mortgage specialists. We'll work closely with your homebuyers from application to closing and keep you informed every step of the way.
A "PRO" team. Our Project Review Office (PRO) makes condo approvals easier with a complete line of FHA, VA and Fannie Mae approval services.
Appraisers who understand new construction. Get high-quality, competitively priced appraisals quickly through LandSafe® Appraisal Services.Footnote: 1
Your buyers can take advantage of:
Highly competitive mortgage rates
Down payments as low as 3.5% on FHA loansFootnote: 2 for buyers with modest incomes
Flexible qualifying guidelines for U.S. veterans on VA LoansFootnote: 3
Financing for homes up to $5 millionFootnote: 4
Down payments as low as 5% for medical professionals through our Doctor LoanFootnote: 5
Help homebuyers buy with confidence:
Extended interest rate locks of up to 12 months for qualified buyers on new construction loansFootnote: 6
Choice of conventional or government mortgages
One-time option to "float down" to a lower market rateFootnote: 7
Learn more about strategic alliances:
Preferred Builder Network (PBN): Offer your buyers a complete home buying solution by marketing your business with Bank of America mortgage products.
Marketing Services Agreement (MSA): Build your brand by partnering with Bank of America, and earn a flat monthly marketing fee when you market us as your preferred lender.
Space Rental Agreement (SRA): Give customers the convenience of having you and a mortgage specialist together under one roof.
FHA 203(k) Renovation Loans
If your business handles additions, repairs and renovations, an FHA 203(k) Renovation LoanFootnote: 9 could be a good financing solution for your buyers. The program combines the cost of buying a home with the cost of making repairs, with one loan and one closing.
More about Renovation Loans »