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 3.00%1 APR up to 8.00% APR
- You can choose from a variety of terms - 7, 10 or 15 years
- 3.00% APR is available to the best qualified borrowers for an 80% LTV, 7-year, first lien loan (no other mortgages on the property), who elect automatically debited loan payments from a qualifying Regions checking account
- 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 deductible. Consult your tax advisor about the deductibility of interest and other charges.
Regions Quick Guide to Your Home Equity Loan
We also offer other options, including mortgages and home equity lines of credit.
1. 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, and election for a 0.25% discount by having monthly payments auto-debited from your qualifying Regions checking account. All loans are subject to credit approval, and documentation and security requirements. 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 a discounted APR of 3.00% and an LTV of 80%, you would make 84 monthly payments of $660.67. 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. Consult your tax advisor about the deductibility of interest and other charges. The advertised APRs were effective November 26, 2014. Offered rates may change at any time without notice.
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.