Bank of America Mortgages
Overall Satisfaction Rating
1.69/5
  • 5 stars
    7
  • 4 stars
    2
  • 3 stars
    2
  • 2 stars
    7
  • 1 star
    70
Based on 88 ratings submitted in the last yearSHOW RATING DISTRIBUTION
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Bank of America Mortgages

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Last updated: Dec. 6, 2017

2733 Bank of America Mortgages Consumer Reviews and Complaints

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Verified Reviewer
Original review: Dec. 6, 2017

Horrible experience with OUR preferred bank for past 40 years. No customer service, arrogant loan processors, underwriters, inexperience staff. Avoid them at all cost!!! Got to other financial institutions who treat you with dignity and respect especially when you are their PREFERRED CUSTOMER for past 30+ years. They should have Senior Executive review their process review these staff and how they treat their PREFERRED CUSTOMERS. We have our entire household bank with BofA for past 35+ years and are COMPLETELY DISSATISFIED with BofA. I wish there was a survey form where I can provide reviews to Senior Executives at BofA.

Verified Reviewer
Original review: Nov. 27, 2017

I'm refinancing my mortgage. The title company needs the payoff information. They have requested it to be faxed twice. I've requested it twice. We've received nothing after two weeks. Every other company and loan I've ever dealt with allows the loan owner to print the payoff document from their website with a log on. BOA does not have that option and they don't respond to requests timely. This is extremely frustrating and quite frankly, ridiculous. I will never use them again.

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Verified Reviewer
Original review: Nov. 20, 2017

First of all a little background. I'm a 53 year old eye doctor with a credit rating of 794. I own about $1,200,000 worth of real estate and about $300,000 other assets and absolutely no debt. Instead of selling one of my rental properties I decided to try a home equity loan. I was looking for maybe $100,000 to start up a business. They took 4 months of tediously asking for information every 2 weeks until after that much time they told me no. What a waste of time.

Verified Reviewer
Original review: Nov. 18, 2017

Bank of America is the worst bank in history. The customer service people are always rude. I have had Bank of America for a while now, and I wish I could have a better bank. Trying to lower my interest rate, tried to modify my mortgage, tried getting approved for HARP. And this Bank of America won't work with no one. I hate this Bank. BANK OF AMERICA IS THE WORST BANK. They overcharge, don't work with the clients. THEY JUST DON'T CARE CAUSE THEY ARE SO BIG. My name is Harry **. If a class action lawsuit comes up about this bank I would join. If they went out of business I would celebrate for 3 years. I never hated a place of business like this. DON'T USE BANK OF AMERICA FOR NOTHING. Don't give them more power. They need to be under investigation.

Verified Reviewer
Original review: Nov. 17, 2017

Not only worst ever bank, but worst ever anything I've ever dealt within 25 years of business. Pre approved for mortgaged, charged $600 for appraisal. Got email that said, “Sorry good luck with another lender”. -5 stars if I could vote that.

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Verified Reviewer
Original review: Nov. 15, 2017

This was a great experience. Bank of America's staff was absolutely amazing. The process was smooth. Excellent follow up. The loan officer called to ensure I had everything covered.

Verified Reviewer
Original review: Nov. 15, 2017

Our Mortgage company went out of business and BOA took over our Mtg. They were the worst! Customer service was bad - communication was terrible and the whole take over was horrible. I would never use them again for anything.

Verified Reviewer
Original review: Nov. 14, 2017

This is my second mortgage with Bank of America. They have always been very helpful and it is also where I do my banking. I recommend them to anyone that needs a good thing.

Verified Reviewer
Original review: Nov. 14, 2017

Lost my home behind BOA! In beginning was paying extra principal payments. Years later my husband lost his job, tried unsuccessfully to qualify for a modification loan. After several reps, reprocessing, appeals, we were denied because our account wasn't in arrears (?!?) Placed house on market… 1.5 yrs on market during housing recession. We ended up having to perform a short sale.

Verified Reviewer
Original review: Nov. 13, 2017

I really liked BofA a lot but they sold my mortgage after about 5 yrs. Which I did not like and was without any talking to me about why this was happening. The company they sold it to is a Rinky Dink Company, which is only out to make a dime any way they can. I'm not happy about it at all!!!

Verified Reviewer
Original review: Nov. 12, 2017

BofA discriminates if you are **. I attempted a loan and noticed Oriental Cultures were greeted and given loans before **. So don't bother.

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Verified Reviewer
Original review: Nov. 12, 2017

I have been a customer with Bank of America for 20+ years. At first I considered them to be very friendly. However, as time passes and business become mega, the sense of being personal has faded. The product list also has changed. You have to be very careful about what type of product you purchase and if it is what you need and can afford.

Verified Reviewer
Original review: Nov. 11, 2017

Our mortgage was bought by Bank of America on our old house that we moved from 2 years ago. Bank of America made us lose our house, we had to do a short sale. We had done a loan modification and was approved for it and had the paperwork in black and white. They never updated their files and our old mortgage was supposed to be added to the back of the loan and the modification was taking over. We were making our payments and they were applying it to our old loan and we ended up getting so far behind that we had no choice but to get out of the house to avoid a foreclosure. I lost count how many phone calls I had made to talk with our "account manager". A single call was never returned to us. If you want to keep your sanity and your credit in decent shape and keep your home, run away as fast as you can from Bank of America and NEVER look back or talk with them again.

Verified Reviewer
Original review: Nov. 11, 2017

This company is very professional and fully trying for all customers to fully absorb their recommended plans. They are also acting like your family member, to reassure that you know about all of their plans.

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Verified Reviewer
Original review: Nov. 10, 2017

Tried to refi my land and mobile home into 1 loan. Person taking the info was aware I'd had the home converted to real estate from mobile home a few years before. Said it would be no issue. Never got anyone to the appraisal or contact me. I had to make several calls over the next 60 days with no response. It wasn't until I threatened to report them to every federal and state agency available that I got a supervisor to call saying I should have received a letter. They wouldn't refi because the appraiser told them - nearly 2 months previously - that it was a mobile home. She insisted I had received notice but nothing by mail or email or call was received by me. Amazingly 3 days later I got the letter saying they couldn't do the refi. Post mark date was the day after I talked to the supervisor. I immediately pulled my accounts from them (5+ years old) and opened an account with a credit union.

Verified Reviewer
Original review: Nov. 10, 2017

We have a refinance through BOA and we have had absolutely no issues with them. Their website is very user-friendly and easy to navigate. They hold our insurance and taxes in escrow and make the necessary payments promptly. Kind of nice not having to worry about any of it.

Verified Reviewer
Original review: Nov. 9, 2017

They're very easy to work with, organized, professional and friendly employees at Bank of America. Annual review went smoothly. They adjusted everything I asked for and did what they said they were going to do.

Verified Reviewer
Original review: Nov. 9, 2017

The first Mortgage we got was a 30 year loan (Fannie May) and we put 5% down. They said we would have PMI insurance for 11 years because we did not put 20% down. I called back and was told it would be the life of the loan. I waited 1 year, no late payments. I got a 20 year loan (Conventional). I got rid of PMI. I had a escrow account. They were taking out 6 months but under law, they are only suppose to take 2 months. I called to say I wanted to cancel this and it took a long time (6 months) to get a refund.

Verified Reviewer
Original review: Nov. 8, 2017

This company is of no help. They did not return calls and refused to provide viable options to keep my home. The home sold for 210k at auction when there was a buyer for 268k. This was devastating and I would never deal with B of A again.

Verified Reviewer
Original review: Nov. 7, 2017

I didn't have a choice, it was sold to Bank of America and I believe still sold again, however payments are to BoA. You are unable to reach a person by phone, request a payment to go to principal and they don't. Difficult to get an invoice on all principal and payments. Have to go to bank and request it and it takes 2 weeks to get the printout. Personnel usually not even friendly or helpful.

Verified Reviewer
Original review: Nov. 6, 2017

BoA has NO interest in anything but extracting every dime. Quick to impose on its customers but slow to do their own jobs. The worst, most arrogant company I've dealt with in decades. Never again.

Verified Reviewer
Original review: Nov. 6, 2017

When we applied for our loan, Bank of America lost our paperwork four times. I hand delivered it the fifth time so they couldn't say they did not receive it. No one from Bank of America was at closing. Before we made our first payment on the loan, they had sold it to another bank and did not notify us. When we tried to contact them, they would not return our calls. I would NOT recommend them to anyone for a mortgage loan.

Verified Reviewer
Original review: Nov. 5, 2017

This bank needs close watching and only cares for themselves. They don't care to help in unexpected disaster. They do not negotiate nor do they follow federal laws. They will skip over previous original mortgage agreement for what they want for their better profit.

Verified Reviewer
Original review: Nov. 5, 2017

I had been approved for a home equity loan, with a closing date. I called to go over the closing and was told that they had decided to pay off my student loans. Mind you, I was not in default on said loans. Yet they decided to pay off my student loans without ever discussing it with me. I said no emphatically. It is my decision. Well, they sent me a letter stating that I had been denied because I didn't make enough money. I was angry at first, but glad not to refi with them, cause at that point, they were very untrustworthy.

Verified Reviewer
Original review: Nov. 4, 2017

B of A took over my Country Wide Mortgage. I was unable to resolve the refinance issues and was in limbo until they passed mortgages off to Nation Star.

Verified Reviewer
Original review: Nov. 4, 2017

They are one of the worst banks in America. The government should have let them go under. I was with Countrywide and they bought the loan. Came after me, and I didn't do anything wrong. Payments on time, and you have to watch them, because they have a habit of losing payments when made in the bank. They will report you late when you are not, and you can't get it off your credit report. You mean the ** and ** of America.

Verified Reviewer
Original review: Nov. 3, 2017

Bank of America has been a great bank to handle my mortgage with. I had some challenges in the beginning, but they have now been resolved. Thanks to the loan modification that was granted to me and my wife. We are now able to remain in our home.

Verified Reviewer
Original review: Nov. 3, 2017

All they care is their profit line. Fees wherever possible for whatever possible and no freebies whatsoever. All they approach you about is about more business for them.

Verified Reviewer
Original review: Nov. 2, 2017

The interest rate increased without my knowledge and Bank of America would not refinance or explain the move. Then they sold the mortgage to a Loan serving company that will not assist me in any way. I feel as if I am held hostage.

Verified Reviewer
Original review: Nov. 2, 2017

A bunch of thieves, lied to several times, tried to do a refi with them, they input the financial information sent to them incorrectly, and denied the refi based on the incorrect information. When I pointed out the error they said they would correct it, but didn't tell me I would need to start the process over. I will never do business in any way with Bank of America.

Bank of America Mortgages Company Information

Company Name:
Bank of America
Company Type:
Public
Ticker Symbol:
BAC
Year Founded:
1992
Address:
100 North Tryon St
City:
Charlotte
State/Province:
NC
Postal Code:
28255
Country:
United States
Phone:
(800) 432-1000
Website:
www.bankofamerica.com