The RE/MAX Collection Magazine November 2013 The RE/MAX Collection - Page 44

Home financing to fit your lifestyle Choose what’s right for you We have special loans and programs that can help you with your next home purchase. So if you have complex sources of income, need to maximize your cash flow or want to keep more liquid assets, we may have a program that’s right for you, including: 1 • Jumbo loan amounts up to $5 million (owner-occupied properties) 2 • Competitive rates on both fixed- and adjustable-rate loans • Special financing for vacation/second homes • Doctor Loans for medical professionals with as little as 5% down on mortgages up to $850,000 3 • Preferred & Platinum Privileges® customers can take advantage of lower interest rates and a potentially more streamlined loan process 4 Get the one-on-one support you’re looking for from our dedicated mortgage loan officers. Learn more by contacting a member of the Bank of America Concierge team at: 1.866.596.2918 1A jumbo loan is a mortgage that exceeds the general conforming loan limit of $417,000 within the continental United States. Expanded conforming loan limits up to $625,500 are available in federally designated high-cost areas within these states. The general conforming loan limit for Alaska and Hawaii is $625,500. Expanded conforming loan limits are available up to $938,250 in federally designated high-cost areas within these states. 2For loan amounts greater than $2 million and less than or equal to $3 million, borrower must provide documentation of reserves totaling a minimum of 24 months of principal, interest, taxes, insurance (homeowners, hazard, mortgage insurance, etc.) and assessments (homeowners association fees/dues/special assessments) related to subject loan/property. For loan amounts greater than $3 million, the same reserves are required and must be held in a Bank of America and/or Merrill Lynch account. Two separate full appraisals are required. Good or excellent credit required, including proof of recent consistent mortgage payment history. Loan to value, cash out limits, and property type restrictions apply, ask for details. Not available on all loan programs. Other restrictions apply. 3Restrictions apply. An applicant must have, or open prior to closing, a banking relationship with Bank of America, which can be, at a minimum, a checking or savings account. 4You automatically enjoy status in the Platinum Privileges® program if you have an active Bank of America checking account and maintain at least $50,000 as a combined balance in your Bank of America deposit accounts and/or your Merrill Edge brokerage accounts. As of June 30, 2013, we will no longer enroll customers into the Platinum Privileges program in the states of KS, MO, NV, SC and WA. Mortgage: Speak to your Mortgage Loan Officer for more details about this home loan relationship benefit. This relationship benefit is only valid for Bank of America customers who are eligible for Preferred Rewards status at time of home loan application, who obtain a Bank of America home purchase or refinance loan and is nontransferable. Terms and conditions apply. Home Equity Loan/Home Equity Line of Credit: Interest rate reductions available for maintaining automatic payment and Preferred Rewards eligible status with Bank of America. For a home equity line of credit, an additional discount is available for drawing and maintaining an initial minimum balance of $25,000 for at least the first 3 full billing cycles. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. All trademarks are the property of Bank of America Corporation or their respective owners. Bank of America and RE/MAX are separate entities; each is independently responsible for its products, services and incentives. Bank of America, N.A., Member FDIC. Equal Housing Lender. © 2013 Bank of America Corporation. ARYLKPVN AD-07-13-0030 07-2013