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First Time Homebuyers

IT’S A BIG STEP. WE CAN HELP.

Regions offers several limited down payment options to assist first-time homebuyers needing a loan with a higher loan-to-value.

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