Regions Bank: 2026 Home Equity Review

Affordability: 5 stars

Because of Regions’ appealing low rates and lack of major closing costs or fees, we gave the bank a 5 out of 5 for affordability.

• APR: At the time of this writing, Regions was offering rates well below Bankrate’s national averages, especially for its home equity loans.
• Introductory APR: HELOC borrowers can score a very affordable deal with Regions’ introductory offer, which currently includes a rate of just 3.99% for the first six billing cycles (a low rate, though it runs a bit on the short side)
• Fees: Regions doesn’t charge any closing costs on home equity loans or HELOCs under $500,000. There is a $100 fee for the HELOC rate lock-in option, and you’ll need to cover any third-party closing costs paid by Regions if you close your HELOC within the first two years (except in Texas).

Availability: 3.5 stars

Because of Regions’ diverse mix of home equity products and the bank’s relaxed loan and draw minimums, the bank scores 3.5 out of 5 for availability. The only real drag is the small geographical footprint.

• Loan products: Regions offers home equity loans, HELOCs and the best of both worlds: the option to convert a portion of HELOC debt into a fixed-rate loan. Plus, the bank has a wide range of repayment terms. The home equity products are available for both primary and secondary residences.
• Footprint: Regions is licensed to offer home equity loans in only 15 states, including the states where the bank operates physical branch locations.
• Credit score: Regions does not disclose a minimum credit score requirement, unlike many lenders. 
• Loan minimum: The bank’s minimum loan amount is $10,000, much lower than some other lenders' minimums.
• Draw minimum: Unless you live in Texas, you aren't required to make a minimum draw when you open a HELOC. And even in the Lone Star State, the draw amount is a relatively small $4,000.

Borrower experience: 4.6 stars

The ability to apply online, in a branch or over the phone delivers extra convenience for borrowers, so Regions scores a solid 4.6 out of 5 for borrower experience.

• Rate transparency: Regions does list (in fine print) a rate range for its home equity loans and HELOCs.
• Convenience: Regions offers the ability to apply online, in a branch or by phone. As of this writing, the lender was processing applications in 20 days and allowed remote closings. 
• Customer service: The bank offers phone-based support Monday through Friday between 6 a.m. and 7 p.m. and Saturday between 8 a.m. and 2 p.m. Call 888-462-7627 to speak with a representative.
• Fixed-rate options: Regions’ Loan-in-a-Line fixed-rate conversion option for HELOCs lets borrowers do as many as 10 lock-ins, a generous number.

Plenty of Regions Bank's current customers have headed online to voice complaints about their experience: The bank has a 1.3 out of 5 rating among more than 430 Trustpilot reviews and a 1.14 out of 5 on its Better Business Bureau profile. It’s worth noting, however, that most of these complaints appear to be related to the bank’s other banking products and accounts (in 2022, the Consumer Financial Protection Bureau hit Regions with $191 million in penalties for its overdraft fee practices). Food for thought, as Regions offers home equity borrowers discounts for autopay from a Regions account.