Home Equity Loans & Lines of Credit

Regions Bank is a national bank that offers home equity loans and home equity lines of credit to homeowners interested in tapping into their equity. Regions Bank offers a six-month introductory 0.99% APR for qualifying HELOCs and 4.5% on home equity loans to deposit account holders with autopay. Regions provides links to other websites merely and strictly for your convenience. The site that you are entering is operated or controlled by a third party that is unaffiliated with Regions. Regions does not monitor the linked website and has no responsibility whatsoever for or control over the content, services or products provided on the linked website. The privacy policies and security at the linked website may differ from Regions’ privacy and security policies and procedures.

The privacy policies and security at the linked website may differ from Regions' privacy and security policies and procedures. Use of this site constitutes acceptance of our Terms of Use, Privacy Policy and California Do Not Sell My Personal Information. NextAdvisor may receive compensation for some links to products and services on this website.

Ways to apply for a Home Equity Line of Credit

This banking, mortgage, and wealth management service provider offers home equity products in 15 states starting at $10,000. Regions Bank makes our list of the best home equity loan and HELOC providers thanks to its variety of home equity products, easy application process, and flexible customer support. We like Regions because of the variety of application options it offers and the ease of applying online. Regions provides several ways to contact customer service, ensuring that customers can get questions answered quickly.

Regions Bank, originally founded in 1852, is a full-service financial institution headquartered in Birmingham, Alabama. This lender has over 1,500 branches and 1,900 ATMs across the South, Midwest and the state of Texas. It’s a good idea to shop around any time you’re getting a loan, and home equity products are no exception. Rates, terms, and products will vary by lender, so checking rates from more than one lender can help you find the best deal. Many lenders let you prequalify for a loan or HELOC with no impact on your credit score, so you can get a sense of your rates before you apply.

Our custom calculators help you figure out the financial details.

For HELOCs greater than $250,000, the bank pays up to $500 in closing costs. Regions will apply any closing costs it paid to the HELOC account if your credit line is terminated within 24 months of activation. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.

regions bank home equity line of credit

Some lenders only offer one or the other, so knowing what you’re in the market for can help focus your search. Bankrate is compensated in exchange for featured placement of sponsored products and services, or your clicking on links posted on this website. This compensation may impact how, where and in what order products appear. Bankrate.com does not include all companies or all available products. Collateral requirements for HELOC borrowers are similar to those for home equity loan customers. HELOC applicants must provide a first or secondary lien interest on the property that’s used as collateral for the loan.

Home Equity Line of Credit product from Regions Bank - Amortization Schedule Calculator

Our editorial team does not receive direct compensation from our advertisers. Finder.com is an independent comparison platform and information service that aims to provide you with information to help you make better decisions. We may receive payment from our affiliates for featured placement of their products or services. We may also receive payment if you click on certain links posted on our site. If you selected a home equity loan or HELOC, enter your ZIP code, credit score and information about your current home to see your personalized rates.

That's why we made it so easy to apply for a Home Equity Line of Credit in just minutes. From home improvements to college education and beyond, we offer the financial support to make it all happen. We make it easy to apply for a Home Equity Line of Credit so you can focus on the important things in life. Use your home's equity to make upgrades, take care of needed expenses, or debt consolidation.

If you opt for a home equity loan with Regions Bank, you can choose a loan term of 7, 10, 15, or 20 years. If, on the other hand, you go with a HELOC, you’ll get a 10-year draw period and a 20-year repayment period. Its home equity loan is available for amounts starting at $10,000 up to $250,000. The bank offers repayment terms of 7, 10, 15 or 20 years at a fixed rate starting at 3.25 percent APR. However, eligible borrowers can receive a rate as low as 3.00 percent APR with autopay.

regions bank home equity line of credit

Compare both monthly payments and long-term costs of borrowing to find an affordable loan. You can apply for a home equity loan or HELOC online, in person, or over the phone. You can apply for a Regions home equity loan or HELOC online, in-person, or over the phone. Before you create an account, though, you can use the bank’s own rate calculator to estimate your rate and monthly payment amount.

About Regions Bank

Please appreciate that there may be other options available to you than the products, providers or services covered by our service. The bank earns 2.4 stars at Trustpilot, with 177 customer reviews logged. Positive reviews center on customer service, online services and bank practices. Rate discounts are available if you elect to have your monthly payments automatically debited from your Regions checking account through our Automatic Payment Option.

regions bank home equity line of credit

Borrowers can secure an introductory fixed rate of 0.99 percent APR for the first six months. The HELOC will then be charged at a variable interest rate afterward. Customers who want a fixed rate on their HELOC can convert to Regions’ LNL option for $100. Although Regions Bank offers competitive rates to qualified borrowers with strong credit, home equity rates for applicants with lackluster credit are higher than average. Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate.

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At NextAdvisor we’re firm believers in transparency and editorial independence. Editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by our partners. Editorial content from NextAdvisor is separate from TIME editorial content and is created by a different team of writers and editors. With a long list of lenders at your fingertips, you can start to narrow down your options by figuring out whether you need a home equity loan or a HELOC.

This lender offers a 0.25% discount if you have a Regions Bank deposit account and activate automatic payments on your home equity loan or HELOC. A lender that offers low introductory APRs and no closing costs for home equity products. Regions offers convenient options for you to bank the way you choose — online, on your smartphone or in a branch. Improving your credit score can also help you get the best rate on a home equity loan or HELOC. Lenders look at your credit score to assess your risk as a borrower and offer the lowest rates to borrowers with the best credit. On the FICO scoring model, a good credit score starts at 670 and a very good score starts at 740.

The Best Savings and CD Rates Rise Ahead of an Anticipated Fed Rate Hike

The bank’s HELOC is a variable-rate line of credit in amounts of $10,000 to $500,000 over a 30-year term. Borrowers can draw from the account during the first 10 years, with the remaining 20 years for repayment. The bank will pay closing costs entirely for lines up to $250,000 and pay up to $500 for lines exceeding $250,000. Regions Bank pays for all closing costs on home equity loans and HELOCs up to $250,000.

regions bank home equity line of credit

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