If so, Holden Lewis wants to hear from you.
CALL FOR SOURCES: Bank of America offers a loan program called the No Fee Mortgage Plus. It’s a mortgage with no fees. None. No origination fees, no title insurance, no mortgage insurance, no courier charges. With the No Fee Mortgage Plus, all you have to pay at closing is taxes and prepaids. It’s for purchases only, and not for refinances, and you have to have some other type of account, such as for checking or savings, with BofA.
Competitors snipe that Bank of America’s mortgage offer is too good to be true, and that the criteria must be so strict that they exclude most borrowers. BofA says the program is on the up and up, that the interest rates are competitive, that it’s not a bait-and-switch.
I want to talk to consumers who have received or who have applied for Bank of America’s No Fee Mortgage Plus. What’s been your experience? If you’re happy with it, this is your chance to correct the naysayers. If you’re not happy, this is your opportunity to warn people off.
E-mail him at hlewis@bankrate.com.
Mortgage Matters – by Holden Lewis
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