Learn more about Bank of America's Fixed-Rate Loan Option Homeowner tip: Ask your lender if there are any fees associated with your HELOC. There may be up-front fees, such as an application fee, an annual fee and a cancellation or early closure fee. Bank of America HELOCs don't have...
An index is a financial indicator used by banks to set rates on many consumer loan products. Most banks, including Bank of America, use the U.S. Prime Rate as published inThe Wall Street Journalas the index for HELOCs. The index, and consequently the HELOC interest rate, can move up or...