Bank of America is just one of the many lenders that offer wholesale rates to mortgage brokers around the country. You can get a shop the wholesale rate from bank of America against the other top lenders in the country. Contact your mortgage broker.

As with all things in life...there is no free lunch. Read the fine print when you get a Bank of America no closing cost mortgage. You will find after talking with your mortgage broker that there maybe a much better deal for you in the wholesale lender market.

Lenders that offer no closing cost mortgages earn their profits by charging higher interest rates. These higher rates can cost you tens of thousands of dollars over the life of your loan.

You may have heard about Bank of America's attractive mortgage programs, such as their No Fee or No Closing Fees mortgages, which are available through their retail branches. As with everything that sounds too good to be true, there may be a catch with a Bank of America mortgage loan. This offer is only available to existing Bank of America customers, for example. Also, as with every bank, their standards are very high when it comes to qualifying credit scores. If you do not have a stellar credit score, this program likely won't be an option for you. At First Security Financial Services, however, we have great programs available for every type of customer, with no slick gimmicks.

Bank of America Mortgages obtained through mortgage brokers have very competitive rates. Wholesale mortgage brokers have access to Bank of America's innovative products and programs, including affordable financing, flexible credit criteria and flexible down payment guidelines for moderate-income borrowers.

Getting a mortgage with Bank of America, Countrywide, Chase, National City Bank, Wells Fargo and the hundreds of other mortgage lenders throughout the nation can be done directly through the lender or through the use of a mortgage broker. Why should you use a mortgage broker instead of just going directly through the lender is a very common question that is asked. The best reason to use a mortgage broker is because a mortgage broker is dealing with these large bank's wholesale divisions and will generally be able to offer better rates and more program choices than a customer will be able to obtain by going directly through the lenders themselves. A borrower going directly through a bank such as Countrywide, Chase, Bank of America, Wells Fargo, Wachovia, National City, and the tons of other lenders will generally have to work with their retail division which will not have the access to the same low rates and same great programs as the wholesale division.

The wholesale division of bank of America offers low rates for good borrowers who have full documentation of income and good credit scores.