Regions Equity EssentiaLine is a flexible, renewable line of credit secured by the equity in your home. Competitive rates and convenient access are just a few of the features the EssentialLine offers. Our Home Equity Lines are a great way to fund home improvements or pay for college tuition and other major financial demands.
Home Equity Lines features:
- Variable rate as low as 4.50 percent APR*
- Money can be used however you see fit
- Available all at once or in increments, right away or at a later date
- Drawing on the line is as easy as writing a check
- No closing costs on lines up to $250,000 on your primary residence
- No annual fee for the first year
- Interest may be tax-deductible
Use our convenient calculators to determine your payments, how much you can borrow and more.
To find out more about the Regions Home Equity Lines call 1-888-IN-A-SNAP to speak with a Regions representative, or visit your local branch.
Loan in a Line1
In today's economy, everybody is thinking about ways to save, which is why the Loan in a Line option for your Home Equity Line of Credit may be just what you need if you're looking for predictable payments and a predictable repayment term.
The Loan in a Line offers:
- Peace of mind and stability – unlike a variable rate that can fluctuate, you'll always know what your rate and payment will be
- Savings – when you lock in a low rate today, you can potentially save a significant amount of money over time as rates increase
- Flexibility – you can choose to lock in all or a portion of your balance. As you pay down your Loan in a Line balance, the difference becomes available again as credit tied to your original variable rate2.
If you wish to lock in at a fixed rate on your current Regions Home Equity Line, or talk to our specialists to find the best option to meet your needs, just call 1.888.IN.A.SNAP or drop by your local branch today.
Home Equity Lines (EssentiaLine) Disclosure
Consult your tax adviser about the deductibility of interest. Regions must receive a valid real estate lien under Article XVI Section 50(a)(6) of the Texas Constitution. Interest rate will vary based on Wall Street Journal prime rate (as of 10/01/11 prime rate was 3.25%). APR is subject to a minimum floor rate of 4.25%. Your APR may be higher based on several factors including your credit history, loan to value (LTV), a Regions checking account relationship with average daily balances of $10,000 or greater, and election to have monthly payments auto deducted from a Regions checking account. APR may vary. APR will never be greater than 18% or the maximum rate allowed by applicable law. This offer is for new home equity lines and is based on a minimum line amount of $10,000 and loan-to-value (LTV) of 80% or less. If your Equity Line is $250,000 or less on your primary residence, Regions Bank will pay or waive (as applicable) 100% of the fees and charges required to open the Equity EssentiaLine (including fees and charges imposed by Regions Bank and fees and charges of third parties). For Home Equity Lines greater than $250,000, Regions will pay up to $500. Property insurance may be required, including flood insurance if applicable. Offer subject to credit approval. Offer subject to change. Other legal requirements must be met. Not available in all states. Visa Platinum Access Card is not available in Texas. A minimum $4,000 draw is required for TX Equity EssentiaLines. In TX, the 10-year draw period is followed by a 10-year repayment period. The amount of your Equity EssentiaLine cannot exceed 50% of the fair market value of your home. Your total mortgage indebtedness (your Equity EssentiaLine plus any outstanding liens or mortgages) cannot exceed 80% of the fair market value of your home.
Home Equity Line (Equity EssentiaLine) Disclosure for Texas
Consult your tax adviser about the deductibility of interest. Regions must receive a valid real estate lien under Article XVI Section 50(a)(6) of the Texas Constitution. Interest rate will vary based on Wall Street Journal prime rate (as of 10/01/2011 prime rate was 3.25%). APR is subject to a minimum floor rate of 4.25%. *Your APR may be higher based on several factors including your credit history, loan to value (LTV), collateral location, a Regions checking account relationship with average daily balances of $10,000 or greater, and election to have monthly payments auto deducted from a Regions checking account. APR may vary. APR will never be greater than 18% or the maximum rate allowed by applicable law. This offer is for new home equity lines and is based on a minimum line amount of $10,000 and loan-to-value (LTV) of 80% or less. If your Equity Line is $250,000 or less on your primary residence, Regions Bank will pay or waive (as applicable) 100% of the fees and charges required to open the Equity EssentiaLine (including fees and charges imposed by Regions Bank and fees and charges of third parties). For Home Equity Lines greater than $250,000, Regions will pay up to $500. Property insurance may be required, including flood insurance if applicable. Offer subject to credit approval. Offer subject to change. Other legal requirements must be met. Not available in all states. Visa Platinum Access Card is not available in Texas. A minimum $4,000 draw is required for TX Equity EssentiaLines. In TX, the 10-year draw period is followed by a 10-year repayment period. The amount of your Equity EssentiaLine cannot exceed 50% of the fair market value of your home. Your total mortgage indebtedness (your Equity EssentiaLine plus any outstanding liens or mortgages) cannot exceed 80% of the fair market value of your home.
1. Certain restrictions apply. Minimum amount required to convert balances to the fixed rate option is $5,000. Offer is subject to a $100 setup fee. 2Additional advances under your Home Equity Line of Credit will remain subject to the terms and conditions of your Home Equity Line of Credit Agreement, including the annual percentage rate described therein.