Regions Loan in a Line (LNL)
Home EquityA Home Equity Line of Credit feature
Loan in a Line allows you to convert all or a portion of your outstanding (variable rate) balance to a fixed rate with a fixed term, offering:
- 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, you can potentially save money over time if 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 funds that can be “re-borrowed” under your home equity line of credit variable rate
| Loan in a Line (LNL) | All States* (Except Texas) | Texas Only |
|---|---|---|
| Product Features |
Allows you the option to lock in all or a portion of your Home Equity Line of Credit balance into a fixed rate and fixed term. You may have up to 10 locks at any given time. |
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| Term | 3, 5, 7, 10 or 15 years; not to exceed remaining term on the Equity Line legal disclaimer number1 | 3, 5 or 7 years; not to exceed remaining term on the Equity Line legal disclaimer number1 |
| Loan Amount | $5,000 up to outstanding line balance | |
| Repayment |
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| Annual Percentage Rate (APR) | Promotional APRs range as low as 4.125% up to 5.875% - Rates are based on lien position of the Home Equity Line and LNL term. Standard LNL rate equals to the Margin provided in the EssentiaLine Credit Agreement + Your Current EssentiaLine Variable APR. legal disclaimer number2 | |
| Automatic Payment Option | Yes | |
| Conversion Fee | $100; waived if request form submitted within the first 30 days after account opening | |
| Late Fee | Late fee: 5% of payment amount ($29 minimum, $100 maximum) |
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| *Applies to states where Regions has branch offices | ||
