Dartmouth Plus Mortgage Assistance

Dartmouth employees purchasing or refinancing a primary residence qualify for Dartmouth Plus mortgage assistance through Bank of America. Through the Dartmouth Plus program, employees have access to all of Bank of America's conventional mortgage products, as well as goverment loans.  Additional benefits available to all regular full-time employees include:

• A $750 lenders credit on first mortgage products.
• Reduced attorney's fees.
• Access to low mortgage rates.
• Dedicated mortgage professional for Dartmouth employees.
• Home equity lines of credit and fixed second mortgage loans.
• Preferred processing and underwriting.
• Free pre-approvals.

Subject to program requirements and verification of credit, financing may be available for up to 96.5% of the purchase price for purchases.  Loan to values are determined by occupancy, loan program, and credit profiles.  Please call for details.  Bank of America programs available to Dartmouth employees include, but are not limited to:

Fixed Rate Mortgage

This traditional loan program is ideal for employees seeking the stability of a fixed interest rate and fixed principal and interest payment for the entire term of the loan.

Adjustable Rate Mortgage ("ARM")

An adjustable rate mortgage typically offers a lower interest rate for an initial term, after which the rate is adjusted based upon a market rate index. In return for giving up the security of a fixed payment, the borrower typically gains the advantage of an increase in purchasing power.

FHA Government Loans

These loans are guaranteed by the federal goverment for one to four unit primary residence properties.  Loans are capped at the FHA conforming loan limits that vary by county.  Advantages to FHA loans are the low down payment requirements (3.5%) for purchase transactions.  Credit profiles are more lenient than conventional loans for those with credit profiles that might not qualify for a traditional mortgage.

Bank of America mortgage specialists can help the employee select the program that best meets their needs. Eligible Dartmouth Employees wishing to learn more about Dartmouth Plus Bank of America mortgage alternatives should contact:

James Loughrey, Bank of America Home Retail Sales Manager
(978) 536-1318 or e-mail james.loughrey@bankofamerica.com