Whether you're looking to make home improvements, consolidate debt, refinance your existing mortgage or fund a large purchase, Regions can help with simple and smart borrowing options - with answers for most loans in about 30 minutes.
Regions' Home Equity Loans provide easy solutions with no closing costs, fixed rates for the life of the loan and historically low rates. How's that for peace of mind?
A Regions Home Equity Loan offers you the choice of flexible terms and the convenience of a fixed monthly payment:
- You can get a very competitive interest rate - as low as 3.75%1 APR up to 8.00% APR
- You can choose from a variety of terms - 7, 10 or 15 years
- Loan amounts can range from $10,000 to $250,000 - depending on property type and lien position
- You can borrow up to 80% of the value of your home
- Regions will pay or waive all closing costs
- A fixed rate over the life of your loan means no surprises and no loan payments increases
- Payments are fixed for the life of the loan - with no balloon payments
- Loan amount is distributed in one lump sum
- Loan amount can be used however you see fit
- Interest may be tax deductible2
Regions Quick Guide to Your Home Equity Loan
We also offer other options, including mortgages and home equity lines of credit.
The Annual Percentage Rate (APR) for a Home Equity Loan is based on several factors, including property type, lien position, credit score, credit history, loan to value (LTV) ratio. For second lien positions, receive a 0.25% rate discount for opting into the Automatic Payment Option in which Regions will automatically debit the monthly payments from a Regions checking account; or receive a 0.50% rate discount for opting into the Automatic Payment Option and maintaining total deposits with Regions of $10,000 or more. Rate discounts are not available on first lien positions. Repayment terms are based on the APR, amount financed and loan term. For example, with a 7-year, first lien Home Equity Loan of $50,000 at an APR of 3.75% and an LTV of 80%, you would make 84 monthly payments of $677.70. With a 15-year, second lien Home Equity Loan of $50,000 at an APR of 8.00% and an LTV of 80%, you would make 180 monthly payments of $477.83. These payments do not include taxes and insurance premiums, and actual payments may be greater if property insurance (including flood insurance if applicable) is required. Your APR and monthly payments may be higher or lower than the APR and payments in this example.
For Texas properties, Regions must receive a valid real estate lien under Article XVI Section 50(a)(6) of the Texas Constitution and your total mortgage indebtedness (your Home Equity Loan plus any outstanding liens or mortgages) cannot exceed 80% of the fair market value of your home.
Use our convenient calculators to determine your payments, how much you can borrow and more.
If you're ready to apply for a Home Equity Loan, please apply here. You can always stop at our branches or call 1-888-IN-A-SNAP to talk to our loan experts.
All loans are subject to credit approval.
1. The 3.75% APR is available for the best qualified borrowers on a first lien loan (with no other mortgage on that property) with a 7 year term and may change without notice. Rate discounts are not applicable for home equity loans in first lien position.
2. Consult a tax advisor regarding interest deductibility.