Compare Home Equity Loans & Lines of Credit | Regions

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Home Equity Loan
Home Equity Line of Credit

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Regions Home Equity Loan

Installment loan secured by a primary or secondary residence located in a state where Regions has a branch.

Regions Home Equity Line of Credit

Flexible, revolving line of credit secured by a primary or secondary residence located in a state where Regions has a branch.

For You If...

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 requirements¹

Lien Position

Regions Home Equity Loan

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

Regions Home Equity Line of Credit

1^st or 2^nd lien position

Required loan-to-value ratio (LTV)

Regions Home Equity Loan

Up to 89% Loan to Value²

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 collateral²

Regions Home Equity Line of Credit

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

Annual Percentage Rate (APR)

Regions Home Equity Loan

5.50% APR to 13.00% 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 5.00% to 11.875%, and are current as of June 16, 2022.⁴

Terms

Regions Home Equity Loan

7, 10, 15 or 20 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 options⁶

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 5.25% ³
No Closing Costs
Fixed Interest Rate
7, 10, 15 or 20 year terms available
Predictable Monthly Payments

Regions Home Equity Line of Credit

Bank paid closing cost options⁶
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

Regions Home Equity Loan

Installment loan secured by a primary or secondary residence located in a state where Regions has a branch.

Regions Home Equity Line of Credit

Flexible, revolving line of credit secured by a primary or secondary residence located in a state where Regions has a branch.

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Collateral: You must provide an enforceable first or second lien security interest in your primary or secondary residence with at least $10,000 of equity. The ratio of the new loan plus all other debt secured by your residence compared to the fair market value of your residence and must not exceed 80%. Property insurance, including flood insurance if applicable, is required. Texas Only: A minimum $4,000 draw is required for Texas Home Equity Lines. The total indebtedness secured by the residence (including the Line) cannot exceed 80% of the fair market value of the home. Prepayment penalty not applicable to Lines secured by a Texas residence.
LTV is the ratio of the new loan plus all other debt secured by your residence compared to the fair market value of your residence. The maximum LTV for your loan will be based on your credit history/score, lien position, occupancy type, how the amount of your total debt compares to the amount of income available for repayment and other criteria. Maximum LTV examples for well-qualified borrowers:
1. First mortgage/primary residence: 89%
2. Second mortgage/primary residence: 85%
3. First mortgage/secondary residence: 75%
4. Second mortgage/secondary residence: 75%
When homes located in Texas are pledged as collateral, the total indebtedness (including the HELOAN) secured by your home cannot exceed 80% of your home’s fair market value.
Home Equity Loan Annual Percentage Rates (APRs) currently range from 5.50-13.00%, depending on several factors, including occupancy type, lien position, credit score/history, LTV ratio, loan term, and whether any discounts apply. Repayment Example 1: $50,000 loan, 7-year term, with Automatic Payment discount, 5.25% APR, 84 monthly payments of $712.58. Repayment Example 2: $50,000 loan, 15-year term, with Automatic Payment discount, 12.75% APR, 180 monthly payments of $624.42 These payments do not include taxes and insurance premiums. Actual payments may be greater if property insurance (including flood insurance if applicable) is required. Other discounts based upon your other Regions relationships may apply.
Intro Rate: 0.99% intro annual percentage rate (APR) applies to new transactions, except those made to cover overdrafts, for your first six (6) billing cycles (although your first billing cycle may be shorter than normal). Intro rate discontinued for Payment Default or for balances converted to a fixed rate using the "Conversion Option." No other discounts apply to the intro rate. Subject to credit approval, documentation, collateral, and other requirements. The intro rate promotion may end at any time without notice. After Intro: After the intro rate period ends, all remaining balances will convert to the variable periodic rate and corresponding APR per the credit agreement, which is based on the Wall Street Journal prime rate (4.75% as of 6/16/2022), plus a margin. Your APR will never be more than 18% or less than 3.75% or increase or decrease by more than 5.00 percentage points annually. Your APR will be based on several factors, including your credit history, credit score, loan-to-value ratio, property type, loan amount and lien status. Ask a Regions Banker about potential post-intro rate discounts.
Repayment: For Loan-in-a-Line balances, fixed monthly payments are amortized over the elected term.
Closing Costs: Estimated closing costs of $150 to $2,000. Regions pays closing costs for lines of $250,000 or less, and up to $500 for lines greater than $250,000. If your line is terminated within 24 months of the opening date, third-party closing costs paid by Regions will be charged to the line. Consult your tax advisor about the deductibility of interest and other costs.