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Thanks for reaching out

I know you have a lot of options when it comes to home loans, and I appreciate you contacting me. I'll review your information and reach out to you as soon as possible.

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Hi, I'm Al and I'm a Bank of America lending specialist here to help with your home loan needs.

On this page, you'll find tools and resources to help you understand your home loan options. While you're browsing, my website will help guide and refer you to informative content, ensuring you're having the best experience possible.

Let's work together
Mike Savoca

Mike Savoca

Senior Lending Officer NMLS ID: 461738

12340 El Camino Real, Suite 100, San Diego, CA 92130
Mike Savoca

Mike Savoca

Senior Lending Officer NMLS ID: 461738

12340 El Camino Real, Suite 100, San Diego, CA 92130
Call me today

I'm Mike, and as a Senior Lending Officer, I'm here to help you find a loan that fits your budget. During my 28 years of experience, I've worked with clients looking for home loans of all kinds, including jumbo loans, government loans, fixed and adjustable-rate loans, and first time homebuyers. I'm happy to talk with you or answer any questions when you're ready to explore your loan options.   

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  • Bachelors degree in Business Administration from Montclair State University

Areas of expertise

  • Jumbo loans
  • Government loans
  • Fixed and adjustable-rate loans
  • First time homebuyers

Home loans and programs

Every borrower has different needs based on their specific situation. When we work together, I'll put Bank of America's best products and services to work to help your clients find the home loan that's right for them.
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Affordable Loan Solution® mortgage

This loan offers a competitive rate and a down payment as low as 3% to help make buying a home more affordable.Footnote 2 It may be a good, responsible loan option for qualified homebuyers who don't have enough savings for a larger down payment.

Here are some highlights of the program:

  • Competitive rates with a down payment as low as 3%
  • Applicants cannot own additional properties at closing
  • Mortgage insurance is not required
  • Homebuyer education may be required for first-time buyers through a HUD-approved counseling provider or Connect to Own®, Bank of America's nationwide network of counselors
  • Maximum income and loan amount limits apply (varies by location)
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FHA and VA loan programs

These government lending programs from the Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) can help your eligible clients find low-down-payment options. They serve a vital role for first-time homebuyers and also move up buyers seeking low-down-payment options.

FHA program highlights includeFootnote 3:

  • Industry standard credit score requirements
  • Nontraditional credit
  • Higher loan-to-value (LTV) ratios
  • Nonoccupant co-borrower
  • Up-front Mortgage Insurance Premium (UFMIP) financed or paid in cash by applicant or seller
  • Monthly Mortgage Insurance Premium (MIP) required

VA program highlights include4:

  • Industry standard credit score requirements
  • Nontraditional credit
  • Up to 100% LTV ratio
  • No mortgage insurance (While VA loans do not have mortgage insurance, the borrower may be required to pay a VA funding fee. This fee is typically financed into the loan amount.)
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Jumbo loans

I'm here to help your clients who are looking at higher-value homes. We offer jumbo loans in a range of amounts that can meet the needs of a variety of buyers. These loans feature:

  • Loan amounts up to $5 million on owner-occupied properties, up to $3 million on second homes and up to $1 million on investment homes.Footnote 5
  • Competitive fixed-rate and adjustable-rate mortgages (ARMs),Footnote 6 10-year interest-only payment option on ARMs up to $5 million and on fixed-rate mortgages up to $2 million.Footnote 7
  • Down payments as low as 10.01% with no mortgage insurance for qualified borrowers on owner-occupied properties with loan amounts up to $1 million (not available with interest-only option).

Together, we can help your clients find and buy the home that's right for them.

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Bank of America Doctor Loan

Our Doctor Loan is specifically designed for licensed and practicing doctors and dentists, medical residents and fellows, and other eligible medical professionals.Footnote 8

Here's how your clients may benefit from our Doctor Loan:

  • As little as 5% down up to $1 million and 10% down on mortgages up to $1.5 million.Footnote 9
  • Employment start date up to 90 days after closing allowedFootnote 10
  • Student loan debt may be excluded from total debt calculationFootnote 11
  • Choose a fixed-rate or adjustable-rate loan

Resources for your clients

Your clients may need some help understanding how home loans work. Here you'll find tools and educational resources that they can use throughout the home loan process.

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