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Does Bank Of America Do Home Equity Loans? - top.ricflairfinance.comBank of America's (BofA) HELOCs come with notable advantages, including potential interest rate discounts and no application or annual fees. Bank of America offers home equity lines of credit (HELOCs) with a minimum line amount of $25, (with $15, in some locations) and a maximum. This guide will help you understand the three main steps of the Home Equity Line of Credit, or HELOC experience. We will provide action items and checklists.