This type of loan can help if you need money for a down payment or closing costs. The information below outlines the highlights of the different products we offer through our offices. For more assistance with Region's limited down payment programs, contact a local Mortgage Loan Originator.
Path to Homeownership - A tool designed to educate and assist customers desiring to purchase a home.
Path to Homeownership - en Espanol
Definition: Allows you to keep your money in the bank and have less out of your pocket for closing cost and down payment.
Terms: 30 years
Loan-to-Value: Loan-to-value refers to the ratio of the mortgage loan's principal to the property's appraised value or its sales price, whichever is lower. With a limited down payment loan, the maximum LTV is 97%, which means less money out of your pocket. Gift funds are allowed.
Loan Amount Limits: For maximum amounts, contact your local Regions Mortgage Loan Originator.
Sample First Time Homebuyers Payment Schedule
| Amortization Term: |
30 years |
| Loan Amount: |
$100,000.00 |
| Loan to Value %: |
97% |
| Interest Rate: |
6.250% |
| APR: |
6.449% |
| Monthly Payment |
360 payments of $615.72 |
Please note, the Monthly Payment outlined above does not include taxes and insurance and the acutal payment will be greater.
Learn more about Interest-Only Mortgage Payments, Mortgage Settlement Statements, and ARM Loans.
For more information please locate a Regions Mortgage Loan Originator or give us a call at 1-877-536-3286.
This is a sample payment schedule, provided in accordance with Regulation Z, Truth-In-Lending, section 226.24(c)(2)(ii)&(iii). Loan specific disclosures will be provided upon application.
Subject to Credit Approval