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Regions Home Equity Loan

You're planning home improvements, want to consolidate debt or refinance your existing mortgage or need cash for a large purchase. Learn More

Regions Home Equity Line of Credit

You want a revolving credit line that allows you to borrow as much as you need up to your credit limit, to pay for home improvements, vacations or to consolidate debt. Learn More

Collateral Requirements

Regions Home Equity Loan

Property to be used as collateral must be a primary or second residence; be located in a state where Regions has retail branches; and have at least $10,000 equity.

Regions Home Equity Line of Credit

Property to be used as collateral must be in a state where Regions has branches, and must meet Regions' Home Equity Line of Credit requirements 1

Lien Position

Regions Home Equity Loan

1st or 2nd lien position for primary or secondary residence

Regions Home Equity Line of Credit

1st or 2nd lien position

Required loan-to-value ratio (LTV)

Regions Home Equity Loan

Up to 89% Loan to Value 2

Regions Home Equity Line of Credit

Up to 80% Loan to Value

Loan Amount

Regions Home Equity Loan

$10,000 - $250,000 depending on occupancy type, lien position, and the amount of debt secured by the collateral 2

Regions Home Equity Line of Credit

$10,000 - $500,000 depending on lien position and LTV

Annual Percentage Rate (APR)

Regions Home Equity Loan

3.25% APR to 11.625% APR 3

Regions Home Equity Line of Credit

0.99% APR 6-month introductory rate. After that, variable APR based on Wall Street Journal prime applies. Current rates range from 3.75% to 10.38%, and are current as of March 17, 2020. 4

Terms

Regions Home Equity Loan

7, 10 or 15 years 3

Regions Home Equity Line of Credit

30-year term (10-year draw and 20-year repayment period) 5

Closing Costs

Regions Home Equity Loan

Bank pays all closing costs

Regions Home Equity Line of Credit

Bank paid closing cost options 6

Access to Funds

Regions Home Equity Loan

Single Lump Sum

Regions Home Equity Line of Credit

Convenience Checks, Visa Platinum Access Card (except in Texas), Online, Phone, or at Branch

Payment Frequency & Amount

Regions Home Equity Loan

Monthly repayment. Repayment amount is fixed and is based on term and loan amount 

Regions Home Equity Line of Credit

1/360th of the outstanding balance plus any accrued finance charges or $50, whichever is greater, during the draw period. During the repayment period, your monthly installment payments will be fully amortized over the 20-year repayment period. Other terms may apply. 5

Potential Fees

Regions Home Equity Loan

Over Limit Fee of $29

Late Fee for 5% of the payment amount ($29 minimum, $100 maximum, $15 maximum for TX)

Returned Check Fee for $15 for all states

Regions Home Equity Line of Credit

Over Limit Fee of $29

Late Fee for 5% of the payment amount ($29 minimum, $100 maximum, $15 maximum for TX)

Returned Check Fee for $15 for all states

Loan in a Line Conversion Fee of $100

Rate Discounts Available

Regions Home Equity Loan

Rate discounts are available if you elect to have your monthly payments automatically debited from your Regions checking account through our Automatic Payment Option. The amount of the discount varies based on your type of relationship with Regions, ranging from 0.25% up to 0.50%.

Regions Home Equity Line of Credit

Rate discounts are available if you elect to have your monthly payments automatically debited from your Regions checking account through our Automatic Payment Option. The amount of the discount varies based on your type of relationship with Regions, ranging from 0.25% up to 0.50%.

Automatic Payment Option

Regions Home Equity Loan

Allows you peace of mind that your payments will be automatically debited from your checking account each month. If your checking account is a Regions checking account, you may qualify for a rate discount.

Regions Home Equity Line of Credit

Allows you peace of mind that your payments will be automatically debited from your checking account each month. If your checking account is a Regions checking account, you may qualify for a rate discount.

Loan Closing Options

Regions Home Equity Loan

Branch Only

Regions Home Equity Line of Credit

Branch Only

Features

Regions Home Equity Loan

  • APR as low as 3.25% 3
  • No Closing Costs
  • Fixed Interest Rate
  • 7, 10 or 15 year terms available
  • Predictable Monthly Payments

Regions Home Equity Line of Credit

  • Bank paid closing cost options 6
  • No Annual Fee
  • Borrow as much as you need up to your credit limit
  • 30-year term (10 year draw; 20 year repayment period) 5
  • Loan in a Line options