Bank of America HELOC at a glance
- Rate
- Shown by state6-month intro, then prime plus a margin
- Line amounts
- $25,000 to $1,000,000Generally; varies in some locations
- Credit score
- 660
- Equity needed
- At least 15%
- Draw / repay
- 10 yr draw, 20 yr repay
- Fees
- No application, annual or closing costs$450 if closed within 36 months
- Fixed rate
- Yes, no fee$5,000 minimum
- Availability
- All 50 states and DC
From bankofamerica.com, checked October 30, 2026. “Not published” means the lender's own pages that we read do not state it.
Bank of America HELOC pros and cons
Pros
- No closing costs on lines up to $1 million
- No application fee and no annual fee
- Available in all 50 states and DC
- Lines generally up to $1,000,000
- Fixed-rate option with no conversion fee
Cons
- Rates are not in the page text; they load by state
- $450 fee if you close the line within 36 months
- A 660 minimum score is higher than some lenders'
- Second home and investment property rules are not published
- Some locations have a $15,000 minimum or $500,000 maximum
Bank of America HELOC rates
Bank of America shows HELOC rates by state in your browser, so they are not in its page text. The structure it publishes: a 6-month variable introductory APR (prime minus a discount, with no other discounts during the intro), then prime plus a margin. Prime was 7.00% as of October 29, 2026 (prime rate history).
Its sample APR assumes a $100,000 line, a $60,000 first draw, a second lien, a combined loan-to-value up to 70%, a single-family primary home and excellent credit. Discounts: 0.125% for autopay, 0.10% for every $10,000 you draw at opening (up to 1.50%), plus Preferred Rewards discounts. The APR floor is 1.99% and the cap is 24%.
Worked example (our arithmetic): drawing $50,000 at opening earns a 0.50% discount (5 times 0.10%), plus 0.125% with autopay.
How Bank of America's HELOC works
You get a 10-year draw period and then 20 years to repay, a 30-year term in total, with a $100 minimum payment. The application takes about 15 minutes, per the bank.
The Fixed-Rate Loan Option lets you convert $5,000 or more of your balance (up to 90% of the line at opening) to a fixed rate, with a term of at least 1 year and no conversion fee.
Bank of America HELOC requirements
- Credit score: 660.
- Equity: at least 15%. A national maximum combined loan-to-value is not published; its examples use 85%, and Texas homestead lines are typically limited to 80%.
- Property: its sample rate assumes a single-family primary home. Rules for second homes and investment properties are not published.
Bank of America HELOC fees and closing costs
There is no fee to apply and no annual fee, and the bank pays all closing costs on lines up to and including $1,000,000.
The catch is an early closure fee: $450 if you close the line within 36 months. It does not apply to lines under $25,000, to properties in Maryland or to Texas homestead lines. Our guide to home equity closing costs explains how these fees compare.
Where Bank of America's HELOC is available
Bank of America says its HELOC is available in all 50 states and the District of Columbia. In some locations the minimum line is $15,000 or the maximum is $500,000. It does not publish a funding time.
How Bank of America compares
The same published facts for Bank of America and three lenders worth comparing it with, all checked October 30, 2026.
| Lender | Key figure | Min. credit | Line amounts | Review |
|---|---|---|---|---|
 | Lines up to$1,000,000 | 660 | $25,000 to $1,000,000 | This review |
 | Intro APR5.49% | Not published | $15,000 to $1,000,000 | Read review of Truist |
 | APR as low as6.20% | 660 | $25,000 to $500,000 | Read review of U.S. Bank |
 | Intro APR5.74% | Not published | Not published | Read review of PNC Bank |
- Truist: Lines up to $1,000,000 with a 9-month intro rate, in the states where it lends.
- U.S. Bank: No closing costs and a published rate range, with lines up to $500,000.
- PNC: A published 6-month intro rate and fixed-rate locks of 5 to 30 years.
Bank of America HELOC FAQ
What credit score do you need for a Bank of America HELOC?
660, and you need at least 15% equity in your home.
Does Bank of America charge closing costs on a HELOC?
No. It pays closing costs on lines up to and including $1,000,000 and charges no application or annual fee. If you close the line within 36 months, you pay a $450 early closure fee, except on lines under $25,000, in Maryland or on Texas homestead lines.
What are Bank of America's HELOC rates today?
Rates load by state on its site. They start with a 6-month introductory variable rate, then move to prime plus a margin, with an APR floor of 1.99% and a cap of 24%. Autopay, the amount you draw at opening and Preferred Rewards can lower the rate.
How much can you borrow with a Bank of America HELOC?
Generally $25,000 to $1,000,000. Some locations have a $15,000 minimum or a $500,000 maximum.
Can you lock a fixed rate on a Bank of America HELOC?
Yes. The Fixed-Rate Loan Option converts $5,000 or more of your balance to a fixed rate, with no fee.
Sources
- Bank of America home equity page (660 score, 15% equity, discounts, fees, intro rate structure), seen October 30, 2026.
- Bank of America rate assumptions and terms (availability, sample APR assumptions, term, line limits, early closure fee, fixed option, APR floor and cap), seen October 30, 2026.
Last reviewed October 30, 2026. Rates and terms are what Bank of America published on its own site, not offers from LenderMatch. LenderMatch is not a lender and does not make loans or credit decisions.
Keep reading
- HELOC requirements and eligibility: credit score, equity, DTI and the documents you need8 min read
- What is a HELOC? How it works, and what happens after year 108 min read
- HELOC vs home equity loan: fixed lump sum or variable line? The $50,000 math8 min read
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