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.
Regions has developed the Path to Homeownership – a tool designed to educate and assist customers desiring to purchase a home by providing you with additional information pertaining to:
- Making the Decision to Buy a Home
- Preparing to Buy a Home
- Application Checklist
- Planning for Down Payment and Closing Costs
- Determining your Borrowing Power
- Understanding Credit Report Information
- Ways to Increase Your Borrowing Power When Shopping for a Home
- Negotiating the Offer to Buy
- Obtaining a Loan
- Closing Day
- Life as a Homeowner
Path to Homeownership - English
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: For available terms, contact your local Regions Mortgage Loan Originator.
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.
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. Loan specific disclosures will be provided upon application.
Subject to Credit Approval