Bank of America is a national bank offering a variable-rate home equity line of credit.
Bank of America HELOC at a glance
Last checked: November 1, 2026
Home Equity Line of Credit
HELOC
A variable-rate home equity line of credit from a national bank. Bank of America advertises an introductory APR of 4.740%, 5.240% or 5.740% for six months, depending on the property state, and states that no customer discounts apply during that period. It does not publish one rate for the period after that which applies generally. That rate varies, so no single figure is shown for it here. Bank of America states that APR may vary based on initial draw, actual CLTV, property value, property location, line amount and other factors, and the state-specific figures it advertises are net of assumed discounts that depend on setting up automatic payments and making a qualifying initial withdrawal.
- APR or rate Varies (conditions apply) tied to Wall Street Journal Prime Rate
- Introductory or promotional APR Varies (conditions apply) for 6 months
- Fixed or variable rate Variable
- Minimum credit score 660
- Maximum CLTV 85% (our interpretation)
- Draw period 10 years (120 months) (our interpretation)
- Repayment period 20 years (240 months) (our interpretation)
- Annual fee None
- Application fee None
Applies once the six month introductory period ends. Bank of America does not publish one post-introductory APR that applies generally. It advertises a different figure for each property state, and it states that APR may vary based on initial draw, actual CLTV, property value, property location, line amount and other factors. No general figure is recorded here for that reason. The customer discounts Bank of America publishes apply to this rate. They do not apply to the introductory rate: "No customer or other discounts are available during the Variable-Rate Introductory Period."
Applies for the first six months only, and it is the one rate none of Bank of America's customer discounts touch. The bank states: "No customer or other discounts are available during the Variable-Rate Introductory Period." The advertised introductory APR is not the same in every state, so no single figure is recorded here.
Interpreted or calculated from what Bank of America publishes, rather than figures it states: Maximum CLTV, Draw period, Repayment period.
The lender also states: Bank of America states a minimum credit score of 660 and at least 15% equity in the home. Closing costs are stated as waived only on lines of credit up to $1,000,000.
The lender also states: Bank of America does not publish a post-introductory APR that applies generally. Its rate page advertises a different post-introductory figure depending on the property state (a sample read on 1 November 2026 found 7.880% for Alabama, 7.920% for Connecticut, and 8.650% for California and as the unlocated default), and it states that "APR may vary based on initial draw, actual CLTV, property value, property location, line amount and other factors." Each advertised figure is net of two assumed discounts Bank of America itself lists: an "auto pay" discount of 0.125%, and an "initial draw" discount of 0.600% for drawing a minimum of $60,000 at account opening and maintaining a minimum balance of $60,000 for at least the first three full billing cycles. A borrower who does not take both should not expect any of the advertised figures. Every figure also assumes "a new $100,000 HELOC in second lien position with a combined loan-to-value (CLTV) ratio of up to 70% on a single-family detached primary residence and a borrower with excellent credit". That 70% is an assumption behind an advertised rate, not a stated lending limit. Bank of America states the variable APR "is based on Prime plus a margin", and publishes neither the Prime value nor the margin. It also states "Your APR will not exceed 24% or go below 1.99% at any time during the term of your account", which is a lifetime bound and not an advertised rate.
The lender also states: Bank of America advertises more than one introductory APR, and states "Introductory rates may vary by collateral property state." In a sample read live on 1 November 2026, with the lender-stated as of date 11/1/2026, the introductory APRs advertised were 4.740%, 5.240% and 5.740%, each for six months. This page does not list which states fall into which tier. To see the introductory APR for a specific property state, use the state selector on Bank of America's own rate page. The introductory rate is priced differently from the rate that follows it. Bank of America states: "The Variable Intro Rate is based upon The Wall Street Journal Prime Rate (Prime) minus a discount; that results in the APR stated above, and can change periodically based on Prime." That built-in discount is part of how the introductory rate is priced and is not one of the customer discounts listed elsewhere on the page, none of which apply here: "No customer or other discounts are available during the Introductory Period." On its assumptions page, Bank of America states this offer "is available for new applications submitted between 9/1/2026-12/31/2026". After 31 December 2026 it should not be presented as current, and any successor offer is new lender-published information that has to be researched before it is shown.
Sources checked: November 1, 2026
Editorial oversight: Michael Yanda
How we produce these figures: methodology and data standards
Detailed terms
Standard terms we checked the lender's page on August 20, 2026.
- Fixed or variable rate
- Variable
- Maximum CLTV
- 85% our interpretation
- Minimum credit score
- 660
- Draw period
- 10 years (120 months) our interpretation
- Repayment period
- 20 years (240 months) our interpretation
Applies when: Applies once the six month introductory period ends. Bank of America does not publish one post-introductory APR that applies generally. It advertises a different figure for each property state, and it states that APR may vary based on initial draw, actual CLTV, property value, property location, line amount and other factors. No general figure is recorded here for that reason. The customer discounts Bank of America publishes apply to this rate. They do not apply to the introductory rate: "No customer or other discounts are available during the Variable-Rate Introductory Period."
- APR or rate
- Varies
- Fixed or variable rate
- Variable
Applies when: Applies for the first six months only, and it is the one rate none of Bank of America's customer discounts touch. The bank states: "No customer or other discounts are available during the Variable-Rate Introductory Period." The advertised introductory APR is not the same in every state, so no single figure is recorded here.
- Introductory or promotional APR
- Varies
- Fixed or variable rate
- Variable
Fees
- Annual fee
- None
- Application fee
- None
- Closing costs
- None On lines of credit up to $1,000,000.
- Early closure fee
- $450 Charged if the account is closed within 36 months of opening. Bank of America states two exceptions and no others: accounts with a maximum line amount below $25,000, and properties located in Maryland.
Information we could not verify publicly 8
We could not confirm the following in the lender's published materials. That does not mean no requirement exists, so ask the lender directly if you need one of these figures.
- State availability
- Eligible property types
- Occupancy requirements
- Minimum borrowing amount
- Maximum borrowing amount
- Maximum LTV
- Maximum debt to income
- Appraisal or valuation
Source & evidence source: lender · checked November 1, 2026 · researched by Chris, our AI research agent · not yet reviewed by a person
Bank of America HELOC: standard terms
"To get started, you’ll need to have a minimum credit score of 660+ and have at least 15% equity in your home."
"There’s no fee to apply, no closing costs (on lines of credit up to $1,000,000) and no annual fee."
"The Home Equity Line of Credit has a variable rate that may increase or decrease based on adjustments to the Wall Street Journal Prime Rate."
On draw and repayment periods the page uses general wording rather than a product term: the draw period is described as "usually 10 years" and the repayment stage as "you’ll typically have 20 years". Both are recorded as interpreted for that reason.
Maximum CLTV is recorded as interpreted from "borrow up to 85% of the value of your home minus the amount you still owe" together with "at least 15% equity in your home". Bank of America does not state a maximum CLTV as a single figure on this page.
Bank of America HELOC: rate after the introductory period
Read live on 19 September 2026 from the Bank of America rate page state selector, every one of the 51 selectable jurisdictions, and from the linked assumptions page. Lender-stated as of date on every reading: 9/18/2026. The post-introductory grid was re-read in full and is unchanged from the 27 August 2026 reading: the same 38 distinct figures across the same 51 jurisdictions, in the same groupings. The lowest was 7.425% for Iowa and the highest 8.965% for Hawaii and New Mexico. California and Colorado were advertised at 8.275%. No figure applied to more than five jurisdictions. The introductory grid changed completely over the same period, which is why both are read separately. Assumption wording quoted verbatim and unchanged: "Sample APR assumes a new $100,000 HELOC in second lien position with a combined loan-to-value (CLTV) ratio of up to 70% on a single-family detached primary residence and a borrower with excellent credit." Discount wording unchanged: "Sample APR includes the following discounts: (1) an 'auto pay' discount of 0.125% ... and (2) an 'initial draw' discount of 0.600% for drawing a minimum of $60,000 at HELOC account opening". Bank of America also states "APR may vary based on initial draw, actual CLTV, property value, property location, line amount and other factors" and "Your APR will not exceed 24% or go below 1.99% at any time during the term of your account". Re-read as a sample on 1 November 2026 under D-099, not a full reading, with the lender-stated as of date 11/1/2026 on every reading: unlocated default 8.650%, Connecticut 7.920%, Alabama 7.880%, California 8.650%. The post-introductory grid is no longer read in full. The 20 October 2026 partial read of 30 jurisdictions showed every compared figure 37.5 basis points above its September value (docs/rate-refresh-2026-10-20.md section 6).
Bank of America HELOC: introductory rate
Read live on 1 November 2026 from the Bank of America rate page state selector, as a sample under D-099 and not a full reading of all 51 jurisdictions. Lender-stated as of date on every reading: "(based on rates as of 11/1/2026 and can change)". Unlocated default: 5.740% introductory, 8.650% after. Connecticut: 4.740% introductory, 7.920% after. Alabama: 5.240% introductory, 7.880% after. California: 5.740% introductory, 8.650% after. Connecticut, Alabama and California are one jurisdiction from each of the three introductory tiers observed before, and each showed the same value it showed in the 20 October 2026 partial read of 30 jurisdictions (docs/rate-refresh-2026-10-20.md section 6), in which only these three introductory values appeared. The six month introductory period was unchanged. Page wording quoted verbatim from the rate page footnote: "Introductory rates may vary by collateral property state." The application window is now published on https://www.bankofamerica.com/home-equity/assumptions-home-equity/ and not on the rate page: "This invitation to apply is available for new applications submitted between 9/1/2026-12/31/2026."
What these terms mean
- CLTV, combined loan to value
- Everything secured against the property, added together, divided by the property value. A maximum CLTV of 85% on a $500,000 home means the first mortgage plus the new borrowing cannot exceed $425,000.
- LTV, loan to value
- The same idea for a single loan rather than the combined total.
- Draw period and repayment period
- The draw period is when you can take money out. When it ends, the repayment period begins, you can no longer draw, and payments are often significantly higher.
- Our interpretation
- A figure we worked out from what the lender published, rather than a number the lender states outright.
Our guide to how a HELOC works explains these in more depth.
About this information
Financial data is based on information published by the lender. Important conditions that affect a rate, limit, or other figure are shown with that information. We identify values we’ve interpreted or calculated rather than treating them as directly published by the lender.
We are not a bank, a lender or a broker, we have no relationship with the lenders listed here, and this is not a recommendation. Terms change. Always confirm directly with the lender before applying.