Home Loan Reviews Advertiser Disclosure

Bank of America Home Mortgages

1.7 out of 5 stars
9 Reviews

From Borrowers in the last year


Application Process

1.5 out of 5 stars

Customer Service

1.5 out of 5 stars

1.5 5

These reviews were written by current and former borrowers in the last year.

Sep 28, 2016
Great experience with BOA
Anonymous Borrower

I had worked with a lady in St Charles Illinois who was very helpfull and really cared - very responsive to my questions -she was my loan officer and basically the middle person between me and the underwriter.  Anyway I was able to get my documents in during the time period that Mrs Lamp has asked and everything went as scheduled.  I have good credit and I have a good job so this maybe the reason for my expediant process but I do believe you need a professional and responsive loan officer to make your experience flawless, thanks BOA and especially the nice loan officer -hopefully will be doing another loan shortly.

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Aug 14, 2016
It was a nightmare.
Anonymous Borrower

Please listen to me.  Do NOT, under any circumstances, take out a mortgage with BofA.  It is not just extreme inexperience among many of their people, but their entire system is a mess.  They outsource processing to people who are equally incompetent.  I could tell 10 horror stories.  Mistakes were made that cost me money.  Never.  

This is the first negative review I have written, ever.  I wish I'd had the good sense to follow my intuition that things were not going well.  I should have gone to a pro.  

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Jun 15, 2016
Run away from Bank of America!
Anonymous Borrower

I had to give up after 2 months of "evolving" documentation requirements. They made me write letter after letter, at least 9 last time I checked, for all sort of things. There were multiple missed deadlines. I considered myself a well qualified borrower with 750+ credit score, above average stable income and my net worth is as much as the house I was trying to buy. Do yourself and your familiy a favor: run away!

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Jun 15, 2016
Absolutely terrible. Run away!

I had to give up after 2 months of "evolving" documentation requirements. They made me write letter after letter, at least 9 last time I checked, for all sort of things. There were multiple missed deadlines. I considered myself a well qualified borrower with 750+ credit score, above average stable income and my net worth is as much as the house I was trying to buy. Do yourself and your familiy a favor: run away!

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Jun 09, 2016
readreview Borrower

RUN FROM THIS BANK ! DO NOT apply for a loan from Bank of America. I was referred to a Bank of America loan officer in Kirkland WA and thought I would be in good hands. NOT. This is a refinance on a property that has a LTV of 50% and my credit rating is 793 and have great income. Should be easy right. No, the customer service is really poor, I don't know their hiring standards, must be really low. They ask me to write a total of 9 letters of explanation for the most ridiculous things. I should have left this process early on and said I am going to a different lender. They must dream up at night , how can we make this process the worst possible nightmare for the customer, lie to them and cheat them out of their money. I could write a book on how miserable this experience was. DO NOT GO TO THIS BANK FOR A HOME LOAN OR REFINANCE.  The only thing I get out of this is saving you grief and a chance to vent my frustration with my choice of going to this horrible bank. I looked at Consumer Affairs for B of A about 10 minutes ago. I should have looked at this first before applying. How can this bank stay open with thousands of complaints. STAY AWAY from Bank of America.

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May 23, 2016
terrible service, waste of time
Anonymous Borrower

I have been a customer for a long time, I am dissapointed.  this was a simple refinance, for a property that I have owned for many years.  Got the preapproval, spent a month going back and forth answering questions, tracking loan officer, complained and finally was able to close.  worst experience I have had obtaining a loan, I dont recommend.  This bank is pretty pathetic when it comes to loan processing. 

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May 19, 2016
Leaving Bank of America Not Looking Back

I had an absolutely HORRIBLE experience getting my home loan from Bank of America. It was the WORST customer service EVER. I could write a novel about the agony but I will try to condense it to meet this format. Needless to say I am moving my banking elsewhere and I know they will sell my home loan probably before I make my first payment, so at least I will never have to deal with them again.

We had a 60 day closing. That is twice as long as a “regular” 30 day closing. We did not close until yesterday, day 69, at 6:30 PM (even though the original time scheduled for the closing appointment was 3 PM – they even hardcore stumbled at the FINISH LINE) following the issuance of TWO closing extensions to our seller.

Our loan officer was a bumbling idiot, and that is being pleasant. I don’t understand how he is still employed or got his job in the first place. During our 60 day closing, it came to light that he did close to NOTHING. I sent him numerous documents multiple times – via email and posting to the online mortgage portal – that following our closing date he claimed never to have received. Even though I have a thorough email record to document that some items were sent to him four and five times!

Our case was escalated to a sales manager on Monday 5/9 (our original closing date) as our loan officer called us the Friday before – 5/6 – basically saying “there is no way the loan is going to close on time”, even though he had never given ANY indication that he was even behind up to that point. I called him literally every day that week (again, I have phone records) and he screened my calls, emails, and texts, failing to contact me in any way until approximately 2 PM that Friday afternoon. That weekend we went out of town for a graduation trip and it was basically ruined because we were frantically calling Bank of America trying to get a manager on our case. As mentioned, no one contacted us back until Monday.

When the sales manager took our case it was revealed that we had never been charged for our appraisal, which I had obviously noticed, even though I provided my BANK OF AMERICA CREDIT CARD information to the loan officer TWICE. I can’t even mention all the things the sales manager had to do that should have been done weeks or months before. One that comes to mind is that they did not have our 2015 tax transcript from the IRS, even though 2013 and 2014 had been successfully obtained. Why didn’t they order them all at the same time, even though we signed the 4506-T for all of them? I don’t know. But I found out about it on Friday afternoon 5/13 and called the IRS myself, waiting on hold for 3 hours, obtaining it myself. The bank told me they had ordered it Friday morning and it takes “24 to 48 hours to get back” and no way in hell was I waiting that long for them to do something they already had 60+ days to do.

The stumbling block at the closing was that the bank’s closer hadn’t sent the final purchase documents to the title officer. I had to scramble communicating with both parties myself to help get it resolved. I did not have the amount needed for the cashier’s check until literally 4 PM (the time Bank of America closes) the day of my 3 PM closing. AFTER THAT it was revealed at the closing table that Bank of America made the closing documents for the wrong amount. They did not include a $3,000 seller credit that they were supposed to. As we were literally signing documents we had to wait again for Bank of America to resend them and give us our $3,000 back.

If you are getting a home loan, go literally ANYWHERE ELSE. DO NOT USE BANK OF AMERICA. THEY ARE  TERRIBLE. Buying a home is supposed to be at least a little bit enjoyable, and I am really just glad it is over.

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Mar 31, 2016
New loan
Anonymous Borrower

Had very worest experince with Bank of America. I took a loan from bank of america, the loan officer doesnt know anything. And customer support always advising me to talk to loan officer, I escalated it but not response from any body.

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Jan 02, 2016
Good rate and discount, but stressful

Compared to Chase and Wells Fargo, BofA offered me better interest rate (0.25% less) and lower closing cost (~$3000 less). Though eventually we closed escrow on time, BofA approved my mortgage at the last minute, making the exprience awfully stressful. I belive they could've completed it faster since I prepared all the documents quickly. Around two weeks before closing, I had to call/email the loan officer and the processor for updates almost every day, pushing them to speed up the process. My guess for their slow process is that the processor is overwhelemed with applications, and miscommunications between the loan officer and the processor. Not surprising for a big organization.

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