Regions Bank Home Loans: Mortgages, Refinancing & HELOC

Buying a home is a big step, and choosing the right mortgage can make all the difference. Regions Bank home loans are designed to help people at every stage, whether you’re buying your first house, building a new one, or refinancing your current mortgage.

With flexible loan options and helpful support, Regions makes it easier to move forward with confidence. In this guide, we’ll break down all the key home loan programs they offer, explore rates and requirements, and answer common questions you may have.

About Regions Bank Home Loans

Regions Bank is a well-known regional bank that serves customers in the Southeast, Midwest, and parts of the South Central U.S. It operates both physical branches and online services, giving customers more options for how they want to manage their finances. The bank offers a full range of financial products, including checking and savings accounts, credit cards, personal loans, wealth management, and of course, home loans.

Regions is known for offering tailored solutions and personal support. Their home loan services are no exception. You’ll find a solid mix of competitive rates, accessible tools, and a customer-first approach that sets them apart from many national lenders.

With strong community roots and decades of experience, Regions combines local expertise with national-level banking resources.

Regions Mortgage Loan Programs

Regions Bank offers many types of home loans to fit different needs. Whether you’re a first-time buyer, a high-income professional, or someone looking to build or renovate, you’ll likely find a good fit here.

Standard Mortgages

At its core, Regions offers the two most common types of mortgages:

• Fixed-rate mortgages, where your interest rate and monthly payment remain the same for the life of the loan.
• Adjustable-rate mortgages (ARMs), which typically start with a lower rate that adjusts after a few years.

Borrowers can choose between 15-, 20-, or 30-year terms. You’ll need a good credit score and a stable income, but Regions doesn’t just look at numbers. They offer in-person consultations and online tools to help you understand your options clearly.

Affordable Home Loan Programs

One standout feature is Regions’ Affordable Home Loan offering. This program helps qualified borrowers secure a home loan with little to no down payment.

• Affordable 97 Mortgage: This mortgage lets you finance up to 97% of the home’s price with just a 3% down payment. It’s a good fit for first-time homebuyers who don’t have a large amount of savings but still want to buy a home with a conventional loan.
• Affordable 100 Mortgage: This program allows you to finance 100% of your home purchase with no down payment required. It’s a rare no-down-payment option for a conventional mortgage.

Construction & Renovation Loans

Planning to build a custom home or renovate your current one? Regions offers construction-to-permanent loans that let you roll your building costs and mortgage into one loan. This can simplify financing. You may be able to borrow up to $2 million, depending on your financial profile and the project. Funds can be used for building from scratch or making major upgrades to an existing property.

FHA, VA, & USDA Loans

Regions also offers government-backed loan programs that help more people become homeowners:

• FHA Loans: Require as little as 3.5% down and are ideal for borrowers with moderate credit scores.
• VA Loans: Veterans, active-duty military personnel, and qualified surviving spouses are the target audience for these Regions Bank home loans. They don’t demand private mortgage insurance (PMI) and offer 0% down.
• USDA Loans: For rural and suburban homes in USDA-eligible areas. These loans also offer 0% down, but there are income and location restrictions.

These Regions Bank home loans are backed by federal agencies and come with more flexible credit requirements.

Mortgage Loans for Physicians & Emerging Professionals

Regions offers special mortgage solutions for professionals just starting out in their careers, such as doctors, dentists, pharmacists, veterinarians, and nurse practitioners. These Regions Bank home loans often allow you to close before your first paycheck and don’t always require private mortgage insurance. It’s designed to match the future earning potential of these borrowers.

High Net Worth Mortgage

For clients with large incomes or significant assets, Regions provides high-net-worth mortgage options. These Regions Bank home loans can go as high as $5 million and may use your investment accounts as a way to qualify. They offer more flexible underwriting and personalized service.

Refinance Loans with Regions

If you already own a home, refinancing could be a smart move, especially if interest rates have dropped or your financial situation has changed.

Regions offers multiple refinance paths:

• Rate-and-term refinance: Update your mortgage rate or term for a lower monthly payment or shorter payoff timeline.
• Cash-out refinance: Tap into your home equity by taking out a larger loan and using the difference as cash.
• Streamline refinance: Available for some government-backed loans, this option may reduce paperwork and speed up the process.

Their website offers a robust set of calculators to help you compare savings, estimate new monthly payments, and decide if refinancing is the right choice.

Regions Home Equity Loans & Lines of Credit

Owning a home is not only about living space, but also a financial asset. Regions offers two main ways to leverage your equity:

Home Equity Loan (HELOAN)

This is a fixed-rate, lump-sum loan using the equity in your home as collateral. It’s ideal for:

• Major renovations
• Medical expenses
• Debt consolidation
• College tuition

The interest rate is locked in at the beginning, so your monthly payment won’t change. It’s predictable, and the repayment term is clear from day one.

Home Equity Line of Credit (HELOC)

Prefer flexibility? A HELOC gives you a revolving line of credit, like a credit card, but secured by your home. Regions lets you:

• Draw funds as needed
• Pay interest only on what you use
• Reuse funds as you repay

Rates are typically variable, but Regions does offer optional rate-locks on portions of your balance.

Loan-in-a-Line, a unique feature of Regions’ HELOC, lets you lock in a fixed interest rate on part or all of your HELOC balance. You can set up to 10 fixed-rate “mini-loans” within your line of credit. It gives you the flexibility of a HELOC with the stability of a fixed loan.

Basic Requirements for Home Equity Loans and Lines:

• Your home must be a primary or secondary residence.
• You need at least $10,000 in equity.
• Combined loan-to-value (CLTV) limit is up to 89% for home equity loans and 80% for HELOCs.
• Available only in 15 states where Regions operates branches.

Regions Home Improvement Loans

If your goal is to upgrade rather than move, Regions offers Home Improvement Loans. This is an unsecured financing option, meaning it doesn’t require you to borrow against your home.

You can use:

• A construction or renovation mortgage
• A home equity loan or HELOC
• An FHA 203(k) loan – This government-backed loan lets you finance both the purchase and repairs in one package.

Highlights include:

• Fixed interest rates
• No closing costs or origination fees
• Quick approvals
• Regions Bank home loans ranging from $2,000 to $75,000

You can use these funds for remodeling, energy-efficient upgrades, roofing, or other licensed contractor work. It’s a great choice for homeowners who want to modernize or repair without refinancing or using equity.

Comparing the Regions Bank Home Loans

Now, let’s break down the most popular Regions Bank home loans side by side:

Rates of Regions Bank Home Loans

The bank does not list exact Regions home loan rates on its website. That’s because Regions mortgage rates change every day based on the economy, your credit score, the loan type, and how much you want to borrow.

To get your personalized rate from Regions Bank, you need to:

1. Contact a Regions mortgage loan officer
2. Share your credit score
3. Tell them how much you want to borrow and for how long
4. Discuss any fees, closing costs, and annual percentage rate (APR)
5. Your loan officer will then provide a custom quote based on your financial situation.

How to Get the Best Regions Bank Mortgage Rate:

If you want the lowest possible rate with your Regions Bank home loans, here are a few tips:

1. Improve your credit score: Pay bills on time, lower your debt, and check your credit report.
2. Make a larger down payment: The more you pay upfront, the less risk for the lender.
3. Shop around: Compare offers from Regions and at least two other lenders.
4. Choose a shorter loan term: 15-year Regions Bank home loans usually have lower rates than 30-year loans.
5. Consider buying discount points: You can pay upfront to lower your rate permanently.

Because mortgage interest adds up over time, even a small drop in your rate can save you thousands of dollars.

Regions Bank Home Loan Calculators

Before you apply for Regions Bank home loans, it’s helpful to estimate how much home you can afford. Regions Bank provides free online calculators on its website to help you plan, such as the Mortgage payment calculator or Refinance calculator.

Here’s what you can do with them:

• Estimate your monthly mortgage payment: Includes principal, interest, property taxes, homeowners insurance, and PMI if required.
• Compare loan types: See how fixed-rate vs. adjustable-rate Regions Bank home loans affect your budget.
• Check your refinance savings: Find out how much you can save by refinancing at a lower rate.
• Plan your HELOC usage: Calculate how much you can borrow and what your payments might look like, with or without the fixed-rate conversion option.

These tools are easy to use and can help you understand your financing options before speaking to a loan officer.

Regions Home Loan Requirements

To qualify for a home loan with Regions Bank, you’ll need to meet some basic requirements. These vary depending on the loan type, but here are the general guidelines of Regions Bank home loans:

1. Credit Score:
   • FHA loans: Usually require a score of 580 or higher
   • Conventional loans: Prefer scores around 620 or more
   • Regions does not list strict minimums, but better scores help you qualify for lower rates.
2. Down Payment: Varies by loan type:
   • 0% down for VA, USDA, and Affordable 100 loans
   • 3% down for Affordable 97 loans
   • 3.5% down for FHA loans
   • 5%–20% down for most conventional loans
3. Debt-to-Income (DTI) Ratio: Your monthly debts (including your future mortgage) must be within acceptable limits, usually under 43% of your gross monthly income.
4. Employment and Income: You’ll need to show steady income and job history (usually 2 years). W-2s, tax returns, and pay stubs may be required.
5. Property Eligibility:
   • The home must pass an appraisal and meet program guidelines.
   • USDA loans require the property to be in a rural-eligible area.
   • FHA and VA loans have their own property standards.
6. For Home Equity Products:
   • You must have at least $10,000 in equity in your home.
   • The combined loan-to-value (CLTV) must meet Regions’ limits (typically up to 89% for loans and 80% for HELOCs).
   • You must live in one of Regions Bank’s 15 eligible states to apply.

Meeting these requirements is key to getting approved and locking in a good interest rate.

How to Apply for a Regions Bank Home Loan

Regions makes the application process simple and approachable. Here’s what you can expect:

1. Prequalification: Use Regions’ online tool to estimate how much home you can afford and what your rate might be.
2. Loan Selection: Speak with a loan officer or use online tools to choose the best mortgage, refinance, or equity product.
3. Application Submission: Provide income, employment, credit, and asset details. This can be done online or in-branch.
4. Receive a Loan Estimate: This is a document that shows your estimated rate, closing costs, and monthly payment.
5. Processing & Underwriting: Your Regions Bank home loan application is reviewed, and an appraisal may be required. Regions keeps you informed throughout.
6. Lock Your Rate: You can lock in your interest rate before rates change. This protects you while your loan is being processed.
7. Closing: After underwriting signs off, you’ll schedule a closing date. You’ll sign all the paperwork and officially become a homeowner. For HELOCs or improvement loans, this step is often faster.
8. Start Making Payments: Once the loan closes, you’ll begin your regular mortgage payments. Regions may keep your loan for servicing or transfer it to another company.

Important Note: If you’re using a HELOC and want to lock in a fixed rate through the Loan-in-a-Line feature, you must do it during the draw period, before repayment begins.

Regions Home Loan Customer Service

Regions Bank offers several ways for customers to get support throughout the mortgage process. Whether you’re just starting out or already paying off your loan, help is available by phone, online chat, or at a local branch.

During the mortgage application, you’ll be paired with a dedicated loan officer who guides you step by step. This personal contact helps answer your questions, explain your options, and keep things moving smoothly.

Once your loan closes, Regions often transfers your file to its mortgage servicing team, which handles ongoing payments, escrow, and account maintenance. This transition may involve a different department or third-party partner, but Regions remains the main point of contact.

Customer service for Regions Bank home loans is available:

• By phone: Monday through Friday, and some support is available on Saturdays.
  •  Regions Home Equity Loan phone number: 1-800-986-2462
  • Regions Home Mortgage phone number: 1-800-986-2462
  • Other Regions Bank Home Loans: 1-800-231-7493
• Online chat: Through their website during business hours.
• In person: At any Regions Bank branch (in eligible states).

4 Tips for Choosing the Right Regions Home Loan

Choosing the right mortgage can feel overwhelming, but with a few smart tips, you can find the Regions home loan that fits your budget and long-term goals:

1. Understand Fixed vs. Variable Interest Rates: Some Regions Bank home loans (like fixed-rate mortgages or HELOANs) have steady payments every month, while others (like HELOCs) may start low but increase later. If you prefer budgeting with certainty, a fixed rate may be a better fit. If you’re comfortable with some risk, a variable rate could offer initial savings.
2. Try the Online Calculators First: Before applying, take advantage of Regions’ mortgage and refinance calculators. They help you estimate your monthly payment, loan amount, and affordability, so you’re not flying blind when discussing options with a banker.
3. Talk to a Loan Officer: Regions puts a lot of focus on one-on-one support. Their loan officers are trained to help you compare programs, understand eligibility, and avoid common pitfalls. Don’t hesitate to schedule a call or visit a branch. You might learn something that saves you thousands.
4. Consider Renovation Loans Instead of Credit Cards: Home improvement loans from Regions don’t require equity and have fixed interest rates, making them a smart choice compared to credit cards, which often come with higher variable interest and limited repayment plans. They’re ideal for remodeling projects, new appliances, or emergency repairs.

FAQs About Regions Bank Home Loans

Here are some frequently asked questions from homebuyers considering a mortgage with Regions Bank:

Are the closing costs of Regions Bank home loans high?

• Regions’ closing costs are generally average to competitive, depending on your loan type and location. You’ll receive a Loan Estimate early in the process that outlines fees, interest, and other charges.

Can I lock in my HELOC rate?

• Yes. Regions offers a Loan-in-a-Line feature that lets you convert part or all of your HELOC balance into a fixed-rate loan. You can do this up to 10 times during the draw period.

Does Regions sell its mortgages?

• Not always. Regions often services its own mortgages, meaning they may keep the loan in-house. This can lead to more consistent customer service and fewer third-party changes.

Is Regions Bank available nationwide?

• No. Regions Bank operates mostly in the Southeastern and Midwestern U.S. Home equity products are only available in the 15 states where Regions has branches. However, some loan programs (like FHA, VA, or USDA) may be available more broadly, please check with a loan officer.

Can I refinance an FHA or USDA loan?

• Yes. Regions supports FHA Streamline and USDA Streamlined-Assist refinancing. These Regions Bank home loans usually require less paperwork, may not need a new appraisal, and can help reduce your rate or monthly payment faster.

Does Regions Bank charge prepayment penalties on home loans?

• No. Regions Bank does not charge prepayment penalties on most of its home loan products, allowing you to pay off your loan early without extra fees.

Regions Bank home loans come with a wide range of choices to meet many different financial needs. From traditional mortgages to no-down-payment and professional loan programs, there’s something for nearly every need. While rates aren’t listed online, getting a personalized quote is simple. If you’re in a Regions service area, it’s worth checking out their flexible and competitive mortgage solutions.