regions bank mortgage rates

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Regions bank mortgage rates
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Find a JD Mortgage® lender

Wouldn’t it be something if a bank recognized that the vast majority of lawyers, while graduating law school with high student loan debt, actually represent an underserved market of borrowers unlikely to default on their mortgage along with solid career earning potential?

Every year over 33,000 lawyers graduate from law school. These new graduates have little in the way of assets other than a juris doctor. Unable to pull together a traditional down payment and often with six figures of student loan debt, these lawyers struggle to get qualified for a mortgage under standard underwriting principles.

Enter the JD Mortgage, a service we’ve put together to connect you with mortgage products established by a few banks that recognize the opportunity to establish a relationship with a young lawyer looking to buy a house. The JD Mortgage is a way to get a special mortgage for lawyers (anyone with a juris doctor). But before we discuss the details, first a little history.

History of Physician Mortgages (Precursor to our JD Mortgage)

Not that long ago, Bank of America recognized that thousands of cash-poor doctors were graduating each year with pent-up demand to purchase homes despite not having any savings. These doctors, as a group, were unlikely to default on their mortgages and made for great long-term customers, since they often went on to purchase additional financial services over their lifetimes.

Using the standard mortgage criteria, these doctors would be turned away since they’re heavily in debt and have no history of earning big paychecks. A light bulb went off. The bank decided that if they could entice these customers with a no-money down mortgage, even if the mortgage had slightly higher interest rates and fees, the doctors would likely become customers for life and make the bank a ton of money in the process. Thus the concept of a “doctor mortgage” was born. Bank of America started it, but many other banks have begun to offer the doctor mortgage as well.

But what about lawyers? Surely they default on their loans at a lower rate than the national average (they do). Surely many of them aren’t all that financially sophisticated and are willing to pay slightly higher fees and interest for access to a no money down loan (they are). Given these similarities between doctors and lawyers, it seems obvious that banks would be rushing to offer a similar program to the JDs of the world.

Most lawyers are surprised when I tell them about the doctor mortgage.

They’re even more surprised when I tell them that a similar program exists for JDs.

While not nearly as developed as the doctor mortgage program, there are banks that are willing to lend to you based on your JD credentials alone, and they’ll do so with little or no money down. And while you may pay a slightly higher interest rate and fees, you won’t be paying PMI. You can even refinance out of your existing mortgage if you are paying PMI.

What is a JD Mortgage®?

A JD Mortgage is a way to find a mortgage for lawyers that typically has these features:

  • Requires little or no money down (0-10%)
  • Doesn’t require the borrower to purchase mortgage insurance
  • May require the lawyer to open a bank account at the bank that is providing the mortgage
  • Has the same interest rate regardless of whether the loan is above or below the “jumbo loan” limit
  • May allow you to use gift money for the (i) down payment, (ii) required reserves or (iii) closing costs
  • Requires cash reserves equivalent to a few months of principal, interest, taxes, and insurance (PITI), a reasonably good credit score, and a debt-to-income ratio of less than 38%
  • Sometimes doesn’t calculate student loans toward the loan-to-income ratio or is willing to use a modified payment in the calculation similar to Income Based Repayment / REPAYE calculation

What Other Options Does a Lawyer Have?

  1. Conventional 20% down mortgage. Putting down 20% still usually gets you the best deal. You’ll have to prove your earnings and, of course, actually save up the 20%, but if you do you’ll likely be rewarded with the lowest rates and lowest fees. The 20% down mortgage also typically has the best options, such as the 30-year fixed, 15-year fixed, Adjustable Rate Mortgages (ARMs), etc. If you’re in a big city, you might find it a challenge to save up such a large sum. Another downside is that the down payment funds won’t be available to invest elsewhere.
  2. Conventional mortgage with less than 20% down. If you qualify for a mortgage with less than 20% down, you can expect the loan to have higher rates and fees than a conventional mortgage with 20% down. Additionally, most banks will require you to purchase private mortgage insurance (PMI). PMI is only beneficial for the banks. It’s an insurance product where you pay the premiums and the banks are the beneficiary if you’re unable to make payments on your mortgage. It’s rare to find a conventional mortgage lender that will let you put 0% down, but 5% and 10% are more common.
  3. 80/10/10 or 80/15/5 loans. Sometimes you’ll find a creative loan officer or broker that can put together a combination of loans to get you to the standard 20% down / 80% financed structure. This usually involves an 80% loan at a slightly higher rate than a conventional mortgage, plus either a 10% or 15% second loan with a much higher interest rate and then either 10% or 5% down. The upside is that you’ll avoid PMI but you’ll replace it with higher interest payments and potentially more fees.
  4. FHA Loan. An FHA loan is a mortgage that’s insured by the Federal Housing Administration (FHA). They allow you to purchase with as little as 3.5% down, however there are several caveats. First, you’ll typically pay higher interest rates and fees, including the upfront mortgage insurance premium of 1.75% of the home loan (regardless of credit score). There will also be a mortgage insurance premium payment figured into your monthly payment. Finally, the Federal Housing Authority sets maximum mortgage limits for FHA loans that vary by state and county. This can be particularly problematic in the cities where many lawyers work (such as New York and San Francisco) where housing prices have skyrocketed. To find out the FHA mortgage limits in your area, click here (you don’t need to fill out each field, simply pick your state and county).
  5. VA Loan. If you qualify for VA benefits, you can also look into getting a VA Loan. One benefit of VA Loans is that you can get them with no money down. However, you’ll pay higher fees if you’re unable to come up with any cash down payment (currently 2.15% if it’s your first VA loan and you put no money down).

How Do JD Mortgage Rates and Fees Compare?

If you get a home loan through JD Mortgage, you’re going to have a higher interest rate than most of the other conventional options (which shouldn’t be a surprise since you’re putting less money down). When it comes to fees, it’s a little harder to compare the JD Mortgage home loans with a conventional mortgage with less than 20% down.

The benefit of using JD Mortgage is that there’s no PMI. The downside is that you’ll be paying a higher interest rate and possibly some additional fees. It’s often hard to tell if you’re better off paying mortgage insurance or the higher rate/fees that come with a JD Mortgage.

If you do some rate shopping, you may be surprised by how much more interest you’ll pay with a JD Mortgage. Using an average credit score between 720-739 and putting 20% down on an $800,000 mortgage, I found a rate of 4.069% for a 30-year fixed mortgage to purchase a house in my area. If you have excellent credit, that rate goes down to 3.891%. Meanwhile, a JD Mortgage for a 30-year fixed could cost you 4.125% with 0.5% points. It may not seem like much, but over time you’ll pay substantially more interest if you pursue a JD Mortgage rather than a conventional mortgage with 20% down. Of course this ignores the opportunity cost of tying your money up in a down payment, which is a factor discussed below.

Should I Get A JD Mortgage?

There’s no clear answer to this question. Personally, I’m a fan of renting during the early stages of your career, particularly if you’re in a big city. Renting gives you flexibility to change neighborhoods or cities with very little frictional cost, while also insulating you from dealing with the headaches and hassles of owning your own home (let the landlord fix the toilets, you’re going to be busy figuring out how to be a lawyer).

Plus, it takes around five years to break even a home anyway. Check out the New York Times Buy vs Rent Calculator to see what makes sense for you.

The housing market isn’t predictable. If you think you might need to move in 3-6 years, you could make a lot of money on a house purchase (those lawyers that bought in 2011) or you could lose your shirt (those lawyers that bought in 2006). The leverage of home ownership works both ways, so you’ll need to prepare yourself either way.

If you do decide to purchase an apartment, condo or house, consider whether the conventional 20% down mortgage is right for you. You’ll save considerably on interest and fees (guaranteed savings) and minimize your exposure to additional stock market risk (e.g. if you have the money for a down payment but choose to invest it in the stock market and take out a no money down loan).

On regions bank mortgage rates other hand, if you’re going to buy a home and you can’t or don’t want to put down the 20% to qualify for a traditional mortgage, a JD Mortgage is a decent option and at least as good as the other choices you have for a non-20% down conventional mortgage.

How Much Should I Borrow?

Often I’ll receive an email or comment from someone who has run the numbers and determined that it’s better to borrow as much money as possible. They calculate that if they invest the down payment in the market they’ll get a better rate of return than they would get if they reduced their mortgage balance. This is the benefit of margin investing. It’s great when it’s working. It doesn’t work so well if your investments crater and your lender wants to get paid.

Example. Let’s say you’re purchasing a $500,000 home. If you put 20% down, you’ll borrow $400,000 and bring $100,000 of cash at closing. If the interest rate on the mortgage is 4.0% and for 30 years, you’ve “saved” $71,867 in interest you’ll avoid paying on the $100,000 you brought in cash. Of course, there’s also an opportunity cost because you can’t invest that money elsewhere. If you invested in the market and received a 8% return, you’ll end up with $164,160 in capital gains (on top of the $100K).

So why not always choose to get the $164,160 in capital gains and pay the $71,867 in interest since you’ll come out so far ahead?

First, saving the $71,876 in interest is a guaranteed return. The $164,160 is not guaranteed. There is no 100% certainty that you’ll achieve that 8% return and a real risk that you could lose money. If you end up with 2% returns over the next 30 years, you’d obviously have been better off putting that money in the mortgage.

Second, you must actually keep that $100,000 invested in the stock market for 30 years to achieve these results. It’s pretty easy to spend money or withdraw it for a “one-time” unexpected expense. If you do that, you’ll ruin the math that makes the margin lending such a good deal. If the money is in your house, it’s much harder to pull it out to buy a Tesla.

Third, there’s a real psychological benefit to being debt free. Sure, intellectually you understand that you’re in the same place by investing the $100,000, but with the bigger mortgage you’ll have a higher monthly payment, which might impact your feelings about job changes, how much you can save monthly, etc. Feeling like you have to keep a job to afford your monthly payments is no way for readers of this site to live.

Fourth, there’s no logical end to this thought process. If you should finance as much house as possible, you should also finance every other purchase in your life and take advantage of the arbitrage. Why stop at financing the house when you can also finance a car, a vacation or a new iPhone? Eventually it has to stop at some point. It’s an arbitrary decision where you draw the line.

Fifth, flip the question around. If your lender allowed you to borrow an additional $100,000 above the purchase price for the house, would you take the larger loan and invest the $100,000 in the stock market?

Источник: https://www.biglawinvestor.com/marketplace/jd-mortgage/

Who has the best mortgage rates? Compare top lenders (2021)

Who has the best mortgage rates?

We analyzed data from the 40 biggest lenders in 2020, looking for the lowest interest rates and fees.1,2 These lenders topped the list for best 30–year mortgage rates:

(1) Freedom Mortgage, (2) Better Mortgage, (3) Citibank, (4) Guild Mortgage Company, (5) American Financial Network.

Remember that rates vary a lot from person to person, so there’s a good chance your best rate will come from a company not listed above.

Luckily, rates are at historic lows right now. It’s a good time to shop for your best offer.

Get started mortgage rate shopping here (Nov 29th, 2021)


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Today’s best mortgage rates

Mortgage rates can change on a daily basis. If you’re in the market for a home loan, you’ll want to keep an eye on those movements.

Knowing when rates are rising or falling can help you decide when to lock a rate – especially if you’re refinancing. And it can give you some idea of how competitive your own rates are compared to the overall market.

To give you a basis for comparison, here are today’s best mortgage rates according to our lender network.*

Loan TypeToday's Best Mortgage Rate*
Conventional 30-Year Fixed% (% APR)
Conventional 15-Year Fixed% (% APR)
FHA 30-Year Fixed% (% APR)
FHA 15-Year Fixed% (% APR)
VA 30-Year Fixed% (% APR)
VA 15-Year Fixed% (% APR)

*Rates shown here are based on a daily survey of The Mortgage Reports’ lender network. Your own rate will be different. See our full mortgage rate assumption here.

How to find your lowest mortgage rate

Mortgage rates are highly personal. Factors like your credit score and debt–to–income ratio (DTI) will have a big impact on the rate you get.

That means the company with the lowest average rates won’t always be the cheapest lender for everyone.

For example: Among the 40 mortgage lenders in our study, Freedom Mortgage had the lowest average mortgage rate in 2020, at just 2.92% for a 30–year loan.

But average rates tell only part of the story. Overall, Freedom Mortgage rates ranged from under 2% to over 6%. So some people got much lower rates than others.

To find your best deal, you have to request rate quotes from more than one company and compare offers.

Compare mortgage rates from top lenders. Start here (Nov 29th, 2021)

Best mortgage rates from top lenders

We looked at the 40 biggest mortgage lenders in 2020 to see how their interest rates stacked up.

The 25 companies with the best mortgage rates on average are as follows:

Mortgage LenderAverage 30-Year Interest Rate, 20202
Freedom Mortgage2.92%
Better Mortgage3.03%
Citibank3.05%
Guild Mortgage Co.3.15%
American Financial Network3.16%
loanDepot3.17%
Guaranteed Rate3.17%
CrossCountry Mortgage3.17%
Prosperity Home Mortgage3.17%
Homepoint3.18%
New American Funding3.18%
Bank of America3.19%
Quicken Loans (Rocket Mortgage)3.20%
Supreme Lending3.20%
American Pacific3.21%
Primary Residential Mortgage3.21%
Gateway Mortgage Group3.22%
Stearns Lending3.23%
Movement Mortgage3.24%
Academy Mortgage Corp.3.24%
Caliber Home Loans3.25%
Paramount Residential Mortgage Group3.25%
Finance of America3.26%
LendUS3.26%
Citizens Bank3.27%

Note that average rates shown in this table are from 2020, when rates were near record lows almost all year. Today’s mortgage rates could be higher than what’s shown.

You can still use last year’s interest rates as a tool to compare lenders side by side. But before you lock in a loan, you’ll want to get custom interest rates from a few different lenders to make sure you’re getting the best deal available today.

Which mortgage lender has the lowest closing costs?

Closing costs are around 2–5% of the loan amount on average. That’s over $4,000 on a $200,000 loan – a considerable amount of cash.

Just like mortgage rates, you can shop around for the lowest the vanderbilt at south beach staten island costs to minimize your out–of–pocket fees.

Here’s how the top mortgage lenders compare for total loan costs, according to 2020 data from HMDA.

Mortgage LenderAverage Total Loan Costs, 2020
(as % of Average Loan Amount) 2
Example: Upfront Costs for
$250,000 Mortgage
Supreme Lending0.64%$1,612
Citibank0.83%$2,070
PNC0.90%$2,248
Chase0.99%$2,470
Better Mortgage1.04%$2,612
Wells Fargo1.20%$2,992
Gateway Mortgage Group1.26%$3,153
Guaranteed Rate1.35%$3,371
Bank of America1.40%$3,504
Flagstar Bank1.41%$3,531
Prosperity Home Mortgage, LLC1.47%$3,680
LendUS LLC1.52%$3,789
Homepoint1.53%$3,835
loanDepot1.54%$3,855
Freedom Mortgage1.55%$3,876
Northpointe Bank1.56%$3,892
Finance of America1.56%$3,902
US Bank1.64%$4,102
Citizens Bank1.64%$4,103
Sierra Pacific Mortgage1.65%$4,114
American Pacific1.68%$4,201
Fairway Independent1.75%$4,369
Bay Equity LLC1.75%$4,377
Caliber Home Loans1.75%$4,382
Movement Mortgage1.79%$4,481

When you’re shopping around, note that some closing costs cannot be negotiated because they’re set by third parties (like appraisal and credit reporting fees).

But lenders do have wiggle room when it comes to setting their own fees. So if you get multiple offers, you might have some leverage to negotiate your costs down.

Some homebuyers even get the seller to cover some or all of their closing costs. But that’s not a guarantee, so you should still plan ahead for these expenses.

Compare loan offers from top lenders (Nov 29th, 2021)

What’s more important: A low mortgage rate or low fees?

It’s just as important to compare upfront loan costs as it is to compare mortgage rates.

Your interest rate might seem much more important because it’s with you for the life of the loan. But upfront fees can make a big difference – especially if you’ll only be in the house a few years.

Remember that most people who get a 30–year mortgage don’t keep their loan the full 30 years. In fact, homeowners keep 30–year loans for just 7 years on average. And when you’re only paying interest over a short period, those upfront fees start to carry more weight compared to your interest rate.

Lenders might emphasize either low closing costs or low rates to make an offer look more attractive, while raising the other number.

In addition, lenders will sometimes emphasize one number or the other to make an offer look more attractive than it is.

For instance, lenders might advertise low– or no–fee mortgages, saying they’ll cover the upfront costs for you. But these loans typically have a higher interest rate.

Other lenders might emphasize ultra–low interest rates but charge higher origination fees or discount points to make up for it.

So when you’re shopping for a mortgage, read your rate quotes thoroughly. Look at rates, upfront fees, and your total estimated closing costs to make sure you’re getting the best deal overall.

Find your lowest mortgage rate (Nov 29th, 2021)

How to compare mortgage rates in 5 steps

It’s easy to compare mortgage rates and fees if you know what you’re doing. There are five basic steps:

  1. Work on your credit and budget to get the best possible offer
  2. Figure out which type of mortgage loan you need
  3. Find lenders offering the type of loan you’re looking for
  4. Select your preferred lenders based on advertised rates, recommendations, customer reviews, and expert reviews
  5. Request Loan Estimates (“quotes”) from those lenders and compare the rates and fees in each offer

That last step – comparing Loan Estimates – is key to finding the best mortgage rate and most affordable mortgage overall.

How to read your Loan Estimates

A Loan Estimate (LE) is a standard document you’ll receive after completing a mortgage application with any lender.

The LE lists everything you need to know about a mortgage before signing on, including the interest rate, lender charges, loan length, repayment terms, and more.

By comparing multiple Loan Estimates side by side, you can tell instantly which lender is offering you the most affordable home loan.

How to compare mortgage rates — The Mortgage Reports

Sample loan estimate, Page 1. Image:CFPB

The first page of the Loan Estimate (shown above) clearly states your mortgage interest rate and projected monthly payment. Those are the numbers people often pay most attention to when shopping for home loans.

But the interest rate isn’t the only part worth looking at.

You should also compare the estimated closing costs with each lender, as well as the closing cost breakdown shown on page two.

How to compare closing costs — The Mortgage Reports

Sample loan estimate, Page 2. Image:CFPB

Finding the best rate and fee combo

At the end of the day, the lowest–rate loan isn’t always the best offer.

Your interest rate and closing costs both have to be factored in. Their relative weight will depend on aol online help financial goals and how long you plan to stay in the home.

For instance, if you’re only going to own the home a few years, a higher rate but lower upfront costs might make sense.

But if you plan to stay the full 30–year duration of the loan, you likely want the lowest interest rate possible. In that case, you might accept slightly higher upfront costs for a lower rate.

Find your lowest mortgage rate. Start here (Nov 29th, 2021)

Tips to get the lowest mortgage rate

If you want the lowest mortgage rate available, you have to shop around. That’s the number one rule.

But there are other strategies you can use to get lower offers from the lenders you talk to.

  1. Try for a last-minute credit boost. See what you can do to improve your credit before buying or refinancing. Your credit score makes a big difference in your mortgage rate, and improving it just a few points could lead to real savings
  2. Consider discount points. If you can afford it, you can pay more upfront for a better mortgage rate over the life of the loan. This could be smart if you plan to keep your home a long time. A discount pointcosts 1% of the loan amount and typically lower your rate by 0.25%
  3. Negotiate your rate. Negotiating with a lender might sound intimidating, but trust us when we say it can be done. Mortgage lenders have flexibility with the rates they offer, and they want your business. A lower interest rate from a different company might be the only leverage you need to negotiate a better offer with the lender you want
  4. Negotiate your closing costs. Some closing costs are non–negotiable, like the third–party appraisal and credit reporting fees. But the fees your lender charges can sometimes be negotiated to save you money on the front end
  5. Know when to lock your rate. Mortgage rates move up and down every day. If you want to get the lowest possible rate, keep an eye on daily rate movements and be ready for a rate lock when they fall

Getting mortgage quotes might not be the most enjoyable way to spend a day. But a few hours of effort could save you thousands on your new home or mortgage refinance.

One study found that people who compare just 3 lenders save $300 per year on average. And if you’re a savvy shopper, you might save a lot more.

Best mortgage rates FAQ

What are today’s mortgage rates?

Between 2019 and 2021, mortgage dropped from over 4 percent to below 2 percent. Currently, mortgage rates are hovering near 3 percent for the best borrowers. That’s incredibly low compared to the historical average of about 8 percent for a 30–year fixed–rate mortgage (based on Freddie Mac’s Primary Mortgage Marker Survey).

What’s a good mortgage rate?

Historically speaking, anything below 4 percent is a very good mortgage rate. In today’s market, the best rates might be in the high 2 percent or low 3 percent range. Remember that the lowest mortgage rates go to borrowers with strong credit, few debts, and at least 20 percent down payment.

Who has the best mortgage rates?

In our analysis of 40 top lenders, the ones with the best mortgage rates on average were Freedom Mortgage, Better Mortgage, Citibank, Guild Mortgage Company, and American Financial Network. These rankings are based on 30–year mortgage rates from 2020 (the most recent data available) Your own best mortgage rate could easily come from a different lender, which is why it’s important to compare personalized offers before choosing a lender.

How do I compare current mortgage rates? 

If you’re only researching – and not quite ready to apply for a loan – you can use online rate comparison sites to check current mortgage rates. But if you’re ready to actually choose a lender, you’ll need to apply for rate quotes from at least 3 to 5 companies. By law, each mortgage lender must give you a Loan Estimate within 3 days of your completed application. These Loan Estimates (LEs) are in a standard format that makes it easy to compare loan terms, interest rates, closing costs, annual percentage rate (APR), and other important loan fees.

What is the best mortgage loan type for me?

That depends. If you have a great credit score and a 20 percent down payment, a conforming loan is usually an easy choice. Home buyers in high–priced real estate markets might need a jumbo loan to afford a more expensive home price. And borrowers with an iffy credit history might prefer an FHA loan – backed by the Federal Housing Administration – which has more lenient guidelines. Other options include VA loans backed by the Department of Veterans Affairs and USDA loans backed by the U.S. Department of Agriculture. First–time home buyers should work closely with their loan officer to find the best mortgage for their financial situation.

How do I choose a mortgage lender?

The first step is to decide what type of mortgage loan you need. Then you can focus on lenders offering that program. Online reviews and recommendations from friends, family, or a real estate five points bank gi ne can also help narrow down your list. The final step is to choose 3–5 lenders you like the look of, apply for preapproval with each one, and compare their rates and lender fees to find the most affordable option.

How is your mortgage interest rate determined?

Mortgage rates depend on a number of personal factors including your credit score, credit report, down payment, and debt–to–income ratio (DTI). The type of loan you use and the lender you choose to work with will also have a big impact on your rate. Finally, overall rate trends are determined by what’s happening in the broader U.S. economy. Current mortgage rates are low because economic uncertainty driven by the coronavirus pandemic has pushed them down over the past two years.

Does my down payment affect my rate?

Typically, yes. The bigger your down payment, the lower your mortgage interest rate will be. That’s especially true with conventional loans (those not backed by the federal government). Your down payment will affect your homeownership costs in other ways, too. The less money you borrow, the lower your monthly mortgage payments will be. And if you put at least 20% down you can avoid private mortgage insurance (PMI), which should save you a couple hundred dollars or more on each monthly payment.

Are jumbo mortgage rates higher?

Jumbo loans – those that exceed conforming loan limits – are considered ‘non–qualified’ (non–QM) mortgages. That means their rates might be slightly higher than conforming loans. As with all types of mortgages, though, your rate depends on factors like your credit score and down payment. If your personal finances are in great shape, you could likely find a very competitive jumbo loan rate.

What’s better, a fixed-rate mortgage or adjustable-rate mortgage?

Most homeowners choose a fixed–rate mortgage because these loans offer safety and stability. With an FRM, you know your mortgage rate and monthly payment will never change unless you choose to refinance. Adjustable–rate mortgages often have lower interest rates at first, but these can increase after the initial fixed–rate period. And that puts homeowners at risk of having a higher – potentially unaffordable – mortgage payment later on.

What’s better, a 30-year mortgage or a 15-year mortgage?

That depends on your personal finances. Most homeowners prefer a 30–year mortgage because these loans offer lower monthly payments. 15–year mortgages have the benefit of lower interest rates and lower total interest payments in the long run. They also help you build regions bank mortgage rates equity more quickly. However, your monthly payment amount would be much higher because you have to pay off the same loan amount in a much shorter term. Your lender or mortgage broker can help you compare loan options and find the right term for your budget.

What are current mortgage rates?

Current mortgage and refinance rates are still at historic lows, creating great deals for home buyers and homeowners.

Comparing loan offers from a variety of lenders is key to finding your best rate. But rate shopping is just one part of the home buying process.

Getting the right loan type – and saving money on closing costs and other fees – can help you lower your overall borrowing costs.

Be sure to look at fees, loan terms, and long–term borrowing costs as well as interest rates when you’re mortgage shopping. That’s the surest way to save money on your new home loan.

Show me today's rates (Nov 29th, 2021)

1Top 40 lenders for 2020 sourced from S&P Global, HousingWire, and Scotsman Guide.

2Rate and fee data were sourced from self-reported loan data that all mortgage lenders are required to file each year under the Home Mortgage Disclosure Act. Averages include all 30-year loans reported by each lender for the previous year. Your own rate and loan costs will vary.

Источник: https://themortgagereports.com/65972/the-best-mortgage-rates-lender-rankings

Regions Bank TV Commercial, 'Are You a Refi Person?'

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As this couple gets ready for the day, they talk about Regions Bank's mortgage rates and discuss the possibility of refinancing. While blow-drying her hair, this woman starts dreaming about all of the things she can buy with the money they save.

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Источник: https://www.ispot.tv/ad/Orl2/regions-bank-are-you-a-refi-person

Regions Financial Corp or SunTrust Banks, Inc.: Which Bank Has the Bigger Profit Engine?

Regions Financial(NYSE: RF) and SunTrust Banks(NYSE: STI) are commercial property calculator simple to understand. Both are regional banking players that make the majority of their money through lending. You won't find any London Whales, or high-flying investment banking divisions here.

With these banks, you'll find mortgages, commercial real estate, and business loans. You'll find deposit accounts and wealth-management options for everyday consumers. You'll find treasury management services for small and middle-market businesses. For a complete review of Region's business, click here.

If we all agree then that the traditional bank business model is what matters for these two banks, then to really understand the engine that drives profits, we must understand the two bank's net interest margins. Net interest regions bank mortgage rates is the difference between the bank's interest income from loans and the interest expense the bank pays out to depositors. 

When analyzing banks like SunTrust and Regions, with assets north of $180 billion and $115 billion respectively, a few basis points in change can have a truly gigantic impact on profits in raw dollar terms. 

Taking the long view, when interest rates begin to rise again in a few years, the banks that have strong net interest margins will be the institutions that see the greatest revenue and profit growth from that change in monetary policy. 

Want to know which banks will be the most profitable in five years? Start by looking at net interest margin.

In the video below, Motley Fool contributor Jay Jenkins takes a woodforest bank routing number texas dive into the numbers for both Regions and SunTrust. On the surface, the banks look fairly similar; but Jay points out a few key differences that could be make or break for the long-term investor.

Источник: https://www.fool.com/investing/general/2014/07/30/regions-financial-suntrust-banks-stock.aspx

The right loan starts with the right lender 


Home Purchase

Find the loan and lender that best fit your needs.

Buying a home is a major — and very exciting — decision. From first-timers to seasoned veterans, we're here to walk you through the process to make sure you're getting the best loan possible for your unique situation. For us, buying a home is so much more than competitive rates and flexible financing packages — though we know those are important.

Whether you're ready to apply, want to review mortgage options or curious about how much house you can afford, we've got the resources you need right here. Start by researching mortgage products, connecting with a lender, beginning your application online or using our financial calculators to research mortgage options and estimated payments.

Whatever you need, we're here for you.

FIND YOUR LOAN

FIND YOUR LENDER


Refinancing

Lock in a lower interest rate on your outstanding balance.

There's no better time to review your current mortgage than when rates are low or expected to drop. Whether you're looking to pay off your loan faster, consolidate debt or gain stability, refinancing your mortgage loan may be a great way to achieve your goals. Get a personalized plan and find out which option works best for you by reaching out to one of our expert mortgage lenders.

FIND YOUR LENDER

Источник: https://www.firstcommunitysc.com/personal/mortgages

Regions Bank Mortgage Rates, Fees & Info

Outside of Metro Areas 7,845$1,210,165,000$154,259$2,3603.63%BIRMINGHAM-HOOVER, AL 4,667 regions bank mortgage rates when was social security first taxed $1,187,265,000$254,396$2,6633.40%NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 4,299 $1,087,195,000$252,895$2,6813.66%ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 3,060 $1,036,140,000$338,608$3,5423.43%TAMPA-ST. PETERSBURG-CLEARWATER, FL 2,898 $759,610,000$262,115$3,8563.57%MIAMI-MIAMI BEACH-KENDALL, FL 1,466 $490,720,000$334,734$5,1723.30%CHARLOTTE-CONCORD-GASTONIA, NC-SC 713 $401,565,000$563,205$4,6533.07%INDIANAPOLIS-CARMEL-ANDERSON, IN 1,588 $388,520,000$244,660$2,5083.45%JACKSONVILLE, FL regions bank mortgage rates 1,071 $385,965,000$360,378$5,1963.28%ST. LOUIS, MO-IL 2,014 $328,690,000$163,203$1,9973.64%ORLANDO-KISSIMMEE-SANFORD, FL 1,043 $303,105,000$290,609$4,0583.59%KNOXVILLE, TN 1,510 $276,340,000$183,007$2,5813.71%NEW ORLEANS-METAIRIE, LA 1,082 $275,060,000$254,214$3,6503.56%CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 645 $261,075,000$404,767$4,5283.59%LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 1,175 $255,425,000$217,383$2,2973.43%AUSTIN-ROUND ROCK-GEORGETOWN, TX 364 $244,300,000$671,154$6,1803.26%HOUSTON-THE WOODLANDS-SUGAR LAND, TX 772 $241,920,000$313,368$4,3633.52%MEMPHIS, TN-MS-AR 1,450 ciber inc $241,840,000$166,786$2,5753.72%NORTH PORT-SARASOTA-BRADENTON, FL 795 $225,265,000$283,352$4,1503.42%DAPHNE-FAIRHOPE-FOLEY, AL 971 $224,155,000$230,850$2,8883.55%CHATTANOOGA, TN-GA 1,039 $204,545,000$196,867$2,3783.71%CHARLESTON-NORTH CHARLESTON, SC 439 $200,925,000$457,688$3,2983.30%BATON ROUGE, LA 778 $185,570,000$238,522$3,3523.49%HUNTSVILLE, AL 1,044 $181,000,000$173,372$3,0903.48%DALLAS-PLANO-IRVING, TX 338 $177,540,000$525,266$4,4283.55%WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 26 $172,880,000$6,649,231$4,5532.82%PENSACOLA-FERRY PASS-BRENT, FL 732 $170,300,000$232,650$3,5323.62%FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL capital one bank near me hours 430 $160,900,000$374,186$4,8293.43%MOBILE, AL 913 $128,315,000$140,542$2,2533.68%COLUMBIA, SC 404 $121,210,000$300,025$3,3023.19%FAYETTEVILLE-SPRINGDALE-ROGERS, AR 458 $115,720,000$252,664$2,6723.35%FORT WORTH-ARLINGTON-GRAPEVINE, TX 195 $115,465,000$592,128$4,2563.48%RALEIGH-CARY, NC 306 $111,590,000$364,673$3,2953.17%DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 466 $110,970,000$238,133$4,1133.51%JACKSON, MS 658 $107,430,000$163,267$2,2193.68%CAPE CORAL-FORT MYERS, FL night at the museum 2 free movie download 431 exchange gift cards for cash app $107,075,000$248,434$3,9883.44%CHICAGO-NAPERVILLE-EVANSTON, IL 360 $106,000,000$294,444$3,0643.28%MONTGOMERY, AL 584 $104,630,000$179,161$2,1193.57%BALTIMORE-COLUMBIA-TOWSON, MD 2 $99,760,000$49,880,000$03.17%ATHENS-CLARKE COUNTY, GA 310 $92,570,000$298,613$4,6013.12%PANAMA CITY, FL 427 $91,045,000$213,220$3,5913.54%SEATTLE-BELLEVUE-KENT, WA 1 $85,505,000$85,505,000$03.27%AUGUSTA-RICHMOND COUNTY, GA-SC 458 $80,340,000$175,415$3,1263.50%WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 236 $74,530,000$315,805$4,5483.62%SHREVEPORT-BOSSIER CITY, LA 382 $73,380,000$192,094$2,9173.64%JACKSON, TN 531 $72,685,000$136,883$2,2873.47%TUSCALOOSA, AL 375 $66,855,000$178,280$2,3333.39%GREENVILLE-ANDERSON, SC 246 $64,760,000$263,252$2,9513.27%WILMINGTON, NC 79 $63,465,000$803,354$3,7983.09%CINCINNATI, OH-KY-IN regions bank mortgage rates 257 $60,075,000$233,755$2,5873.24%GAINESVILLE, GA 264 $59,050,000$223,674$3,2623.59%OCALA, FL 365 $56,655,000$155,219$2,1023.92%NAPLES-MARCO ISLAND, FL 147 $53,405,000$363,299$4,4233.51%FLORENCE-MUSCLE SHOALS, AL 332 $51,470,000$155,030$2,0743.57%LAFAYETTE-WEST LAFAYETTE, IN regions bank mortgage rates 322 $48,190,000$149,658$2,2513.54%GULFPORT-BILOXI, MS 280 $47,590,000$169,964$3,0703.52%PUNTA GORDA, FL 234 $45,150,000$192,949$3,7333.54%DENVER-AURORA-LAKEWOOD, CO 35 $44,255,000$1,264,429$2,9403.24%PALM BAY-MELBOURNE-TITUSVILLE, FL 217 $43,085,000$198,548$3,4083.73%COLORADO SPRINGS, CO 4 $42,960,000$10,740,000$4,5673.41%WINSTON-SALEM, NC 20 $41,790,000$2,089,500$2,8793.43%DURHAM-CHAPEL HILL, NC 85 $38,285,000$450,412$3,8623.07%AUBURN-OPELIKA, AL 157 $37,155,000$236,656$2,7603.39%HATTIESBURG, MS 234 $35,150,000$150,214$2,2973.53%DECATUR, AL 299 $35,135,000$117,508$1,7473.74%SAN ANTONIO-NEW BRAUNFELS, TX 112 $34,720,000$310,000$4,5123.33%DOTHAN, AL 249 $33,505,000$134,558$1,8103.69%NEW BRUNSWICK-LAKEWOOD, NJ 1 $33,505,000$33,505,000$02.96%HOT SPRINGS, AR 183 $31,815,000$173,852$2,1313.53%LAFAYETTE, LA 149 $31,735,000$212,987$3,6523.39%OXNARD-THOUSAND OAKS-VENTURA, CA 1 $30,805,000$30,805,000$02.48%HILTON HEAD ISLAND-BLUFFTON, SC 108 $30,610,000$283,426$3,4303.55%CLARKSVILLE, TN-KY 213 $29,465,000$138,333$1,7513.79%TYLER, TX 116 $29,150,000$251,293$3,3683.54%FORT SMITH, AR-OK 182 $25,130,000$138,077$2,1413.46%CLEVELAND, TN 179 $24,835,000$138,743$1,7433.67%DALTON, GA 214 $24,050,000$112,383$1,7223.75%KINGSPORT-BRISTOL, TN-VA 197 $24,035,000$122,005$2,0983.63%TALLAHASSEE, FL 124 $22,610,000$182,339$2,7573.62%SPRINGFIELD, MO regions bank mortgage rates 148 $22,490,000$151,959$2,2353.55%JOHNSON CITY, TN 160 $22,380,000$139,875$2,3043.81%LOUISVILLE/JEFFERSON COUNTY, KY-IN 146 $22,210,000$152,123$2,3623.52%HOUMA-THIBODAUX, LA 136 $21,940,000$161,324$3,1913.66%BLOOMINGTON, Amazon self published books 81 $21,165,000$261,296$2,9363.35%LAKELAND-WINTER HAVEN, FL 128 $21,100,000$164,844$2,9913.73%GADSDEN, AL 139 $20,715,000$149,029$1,6463.69%MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 54 $19,660,000$364,074$3,5063.16%HOMOSASSA SPRINGS, FL 153 $18,885,000$123,431$2,5723.95%ASHEVILLE, NC 46 $18,310,000$398,043$3,8223.46%ANNISTON-OXFORD, Coastal bank and trust careers 168 $17,880,000$106,429$1,6663.74%DECATUR, IL 171 $17,355,000$101,491$2,2663.50%GREENSBORO-HIGH POINT, NC 25 $16,805,000$672,200$2,9413.26%TEXARKANA, TX-AR 137 $16,665,000$121,642$2,3143.53%MORRISTOWN, TN 116 $16,550,000$142,672$2,7093.76%JONESBORO, AR 127 $15,915,000$125,315$1,8233.86%CAPE GIRARDEAU, MO-IL 144 $15,330,000$106,458$1,3803.69%GAINESVILLE, FL 66 $13,990,000$211,970$3,4753.52%PORT ST. LUCIE, FL 40 $13,710,000$342,750$4,8653.25%EVANSVILLE, IN-KY 76 $12,990,000$170,921$2,7123.54%KANSAS CITY, MO-KS 49 $12,905,000$263,367$2,3733.37%MONROE, LA 83 $12,485,000$150,422$2,4914.04%ALEXANDRIA, LA 70 $11,190,000$159,857$2,5433.74%DES MOINES-WEST DES MOINES, IA 70 $10,940,000$156,286$2,0943.66%HAMMOND, LA 72 $10,840,000$150,556$3,1223.57%COLUMBIA, MO 62 $10,400,000$167,742$2,5023.61%ROME, GA 74 $9,060,000$122,432$1,7873.98%COLUMBUS, GA-AL robot sphero bb 8 droid trainer 69 $8,505,000$123,261$3,1623.57%HICKORY-LENOIR-MORGANTON, NC 21 $8,415,000$400,714$3,8693.14%THE VILLAGES, FL 46 $7,830,000$170,217$3,2183.58%SPARTANBURG, SC 45 $7,555,000$167,889$2,7893.75%SAVANNAH, GA 31 $7,335,000$236,613$2,8993.44%CARBONDALE-MARION, IL b of a account sign in 79 $6,775,000$85,759$1,5303.72%JEFFERSON CITY, MO 63 regions bank mortgage rates $6,665,000$105,794$1,8173.92%SPRINGFIELD, IL 49 $6,635,000$135,408$2,4033.49%BRUNSWICK, GA 18 $6,560,000$364,444$5,1423.26%PEORIA, IL 50 $6,390,000$127,800$1,2433.69%LYNCHBURG, VA 4 $6,160,000$1,540,000$5,0833.04%LEXINGTON-FAYETTE, KY 17 $5,695,000$335,000$3,2133.21%GOLDSBORO, NC 21 $5,685,000$270,714$2,5393.22%VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 12 $5,540,000$461,667$3,4262.94%ELGIN, IL 21 $5,525,000$263,095$2,9893.27%CHAMPAIGN-URBANA, IL 33 $5,455,000$165,303$2,5003.45%CORPUS CHRISTI, TX 13 $5,225,000$401,923$4,2873.26%LAKE COUNTY-KENOSHA COUNTY, IL-WI 18 $5,140,000$285,556$2,9343.23%KOKOMO, IN 46 $4,740,000$103,043$1,7793.68%WACO, TX 11 $4,555,000$414,091$5,6843.65%BLOOMINGTON, IL 35 $4,305,000$123,000$1,8193.35%LONGVIEW, TX 36 $4,220,000$117,222$1,7853.94%TERRE HAUTE, IN 38 $3,980,000$104,737$1,8963.39%WATERLOO-CEDAR FALLS, IA 43 $3,825,000$88,953$1,5983.75%ALBANY, GA 29 $3,565,000$122,931$2,7333.85%SEBASTIAN-VERO BEACH, FL 12 $3,410,000$284,167$3,3683.66%VALDOSTA, GA 17 regions bank mortgage rates $3,065,000$180,294$2,3233.40%LAKE CHARLES, LA 9 $2,935,000$326,111$3,9893.51%AMARILLO, TX 5 $2,665,000$533,000$6,4993.33%BEAUMONT-PORT ARTHUR, TX 4 $2,660,000$665,000$5,0063.30%GREENVILLE, NC 9 regions bank mortgage rates $2,605,000$289,444$3,4863.10%COLUMBUS, OH 9 $2,495,000$277,222$2,3603.08%DAYTON-KETTERING, OH 12 $2,480,000$206,667$3,3193.17%LUBBOCK, TX 7 charlotte state bank phone number $2,445,000$349,286$4,2993.13%MACON-BIBB COUNTY, GA 11 $2,445,000$222,273$2,8043.17%GARY, IN 15 $2,425,000$161,667$2,7113.57%BOWLING GREEN, KY 12 $2,400,000$200,000$2,7773.23%JACKSONVILLE, NC 6 $2,330,000$388,333$3,6503.02%COLLEGE STATION-BRYAN, TX 9 $2,205,000$245,000$6,2663.58%MCALLEN-EDINBURG-MISSION, TX 7 $2,085,000$297,857$3,9713.54%FAYETTEVILLE, NC 9 $2,045,000$227,222$3,5923.10%BOULDER, CO 4 $2,000,000$500,000$3,5552.94%ROANOKE, VA 6 $1,980,000$330,000$2,6822.79%CEDAR RAPIDS, IA 24 $1,940,000$80,833$9733.87%KILLEEN-TEMPLE, TX 13 $1,845,000$141,923$2,3873.76%CLEVELAND-ELYRIA, OH 6 $1,830,000$305,000$3,6012.83%IOWA CITY, IA 5 $1,755,000$351,000$2,3873.38%RICHMOND, VA 7 $1,675,000$239,286$4,0703.29%GREELEY, CO 5 $1,665,000$333,000$2,9523.08%DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 4 $1,630,000$407,500$2,9003.16%COLUMBUS, IN 8 $1,530,000$191,250$2,1263.25%WARNER ROBINS, GA 6 $1,510,000$251,667$4,7173.04%CHARLOTTESVILLE, VA 4 $1,510,000$377,500$2,2393.09%JOPLIN, MO 7 $1,505,000$215,000$2,5403.41%SHERMAN-DENISON, TX 3 $1,305,000$435,000$4,9263.04%ROCKY MOUNT, NC 4 $1,300,000$325,000$3,6973.13%MIDLAND, TX 4 $1,300,000$325,000$6,6453.53%SUMTER, SC 5 $1,275,000$255,000$3,2183.30%BURLINGTON, NC 4 $1,210,000$302,500$2,7363.16%OKLAHOMA CITY, OK 6 $1,200,000$200,000$3,0113.06%NEW BERN, NC 2 $1,160,000$580,000$3,4112.81%MUNCIE, IN german bank account for us citizens 6 $1,080,000$180,000$1,6913.44%AMES, IA 2 $1,040,000$520,000$1,0503.81%SEBRING-AVON PARK, FL 4 $970,000$242,500$4,0873.03%PINE BLUFF, AR 7 $875,000$125,000$3,0173.50%LAREDO, TX 4 $860,000$215,000$3,3703.44%CANTON-MASSILLON, OH 2 $820,000$410,000$5,7793.06%BROWNSVILLE-HARLINGEN, TX 3 $795,000$265,000$3,4233.75%MICHIGAN CITY-LA PORTE, IN 2 $750,000$375,000$2,5852.94%EL PASO, TX 4 $700,000$175,000$3,1883.16%SOUTH BEND-MISHAWAKA, IN-MI 4 $660,000$165,000$2,6013.34%KANKAKEE, IL 4 $630,000$157,500$2,5703.88%FORT WAYNE, IN 5 $575,000$115,000$2,9653.58%VICTORIA, TX 1 $545,000$545,000$6,1794.13%SALT LAKE CITY, UT 2 $500,000$250,000$2,9902.88%HINESVILLE, GA 4 $490,000$122,500$2,5434.75%ROCKFORD, IL 1 $415,000$415,000$2,9083.13%ELIZABETHTOWN-FORT KNOX, KY 3 $385,000$128,333$2,0304.00%ST. JOSEPH, MO-KS 1 $375,000$375,000$2,5082.50%PROVO-OREM, UT 1 $375,000$375,000$2,2832.88%WHEELING, WV-OH 1 $375,000$375,000$4,1232.38%WICHITA FALLS, TX 2 $370,000$185,000$3,5993.00%TULSA, OK 2 $350,000$175,000$3,7342.69%FLORENCE, SC 3 $325,000$108,333$2,0593.79%SPRINGFIELD, OH 1 $325,000$325,000$9712.88%WICHITA, KS 2 my crb auto $290,000$145,000$3,0642.88%DUBUQUE, IA 1 $285,000$285,000$2,3062.63%OGDEN-CLEARFIELD, UT 1 $275,000$275,000$2,7083.75%FORT COLLINS, CO 1 $275,000$275,000
Источник: https://originationdata.com/institution/EQTWLK1G7ODGC2MGLV11

Regions bank mortgage rates -

Nearly a decade after the global financial crisis, as banks continue to adjust to a raft of new regulations, some are prioritizing going above and beyond the call for compliance and focusing on a new bottom line that incorporates doing well by doing good.

One of these is Regions Bank, a Fortune 500 company with 1,527 banking offices in 15 states, total assets of $126 billion (2016), and more than 22,000 employees. “Shared value”—doing business in a way that benefits the customer, the company, and the community—represents a core tenet of the bank’s mission and its business strategy and is viewed as the best path to a sustainable business model. After all, as the bank notes in a statement about its culture, “The company will only be as strong as the communities we serve.”

But stating that “Regions makes life better” and putting that slogan into action are two different things. For Regions—as for a growing number of banks and businesses—the finely tuned geographic and demographic information that can be accessed through location analytics technology has become a key tool for making sure the actions match the mission.

The Speed of Digital Transformation

Regions’ growing reliance on location analytics began five years ago as the banking sector was emerging from the 2008 crash. The bank beefed up its risk management department by creating its first Spatial Intelligence and Location Analytics group—a unit that used geographic information system (GIS) technology to help track branch locations.

At the time, most banks were stapling paper maps to a wall and marking them up with Sharpie pens to make sure that prospective branch locations met federal requirements to serve low-income communities, while also weighing the other factors that drive location decisions (land price, neighborhood demographics, available talent pool, competition, etc.).

Without the technology and without the science to back things up, you become dependent on essentially gut feelings, right? I think everybody's comfortable saying that gut feelings got a lot of people in trouble seven, eight years ago.

Grant Mullins, Regions Bank

The introduction of GIS—a technology that has existed for decades but is gaining a following in new industries—changed all that. Now, as American Banker noted recently, banks are scrambling to hire tech-savvy professionals who can create and analyze digital maps with multiple layers of data—loan rates, levels of homeownership, spending habits, and more.

At Regions, location analytics technology allows the branch-siting team to ensure that the bank is serving underbanked communities, while keeping an eye on internal performance and external competition. The team uses digital maps layered with low- and moderate-income census tracts and other key data to run scenarios that measure the impact of opening or closing a branch. The scenarios quickly reveal whether a change would reduce service in needy neighborhoods.

“In the past, you had to dedicate a person to doing a three-week process to get a map, or a two-week process to do analytics,” says Grant Mullins, who leads the Spatial Intelligence team at Regions. “Now we are able to automate and streamline so much; you don’t necessarily have to have a big team to do big team analytics.”

Analytics Illuminates a New Path

Although the Spatial Intelligence team was created to focus on risk management, the potential of GIS to help Regions reach the unbanked and underbanked quickly became apparent. Soon after Mullins joined the company, its headquarters, in Birmingham, Alabama, hosted a meeting of Regions’ mortgage loan officers (MLOs) and management staff from across the country. The goal was to strategize how the bank could be a better neighbor: providing services to more of the underbanked, marketing a wider variety of mortgage products, and making the right loans in the right places.

At the time, Regions’ MLOs might spend a full day researching 20 prospective mortgagees—painstakingly combing through five or six websites and data sources to create a profile of each potential customer and then finding financial products that matched their needs and qualifications. The Spatial Intelligence team built a digital map layered with all the necessary data points, so MLOs could simply drag a spreadsheet of 20 addresses onto the digital map and instantly get a report on the whole batch.

It turned out that one of the best ways to do good in the community and do well on the bottom line was to simply speed up the process. MLOs can now quickly match affordable financial products to customers who qualify while also providing higher-income customers with a faster response.

The maps remove a lot of guesswork and provide concrete measures of shared value.

Bank deposit boxes; image by Tim Evans

Originally formed to support risk management, Regions’ Spatial Intelligence and Location Analytics group now delivers location intelligence to support decision making across the company.

“Without the technology and without the science to back things up, you become dependent on essentially gut feelings, right?” Mullins notes. “I think everybody’s comfortable saying that gut feelings got a lot of people in trouble seven, eight years ago.”

Regions is not the only bank that sees the business benefits of being a good neighbor. Peter Scher, head of corporate responsibility for JPMorgan Chase, recently told Fortune that community investment certainly feels good (and helps retain top talent), but it isn’t charity—it’s good for the bottom line. For example, since 2014, JPMorgan Chase—with help from a location-based database to drive decision-making—has invested more than $50 million in community development-focused financial institutions in Detroit. The bank’s Invested in Detroit initiative has created or preserved nearly 1,700 jobs, financed about 100 new businesses, and reached some 15,000 people through training programs, Scher’s team said. And it also has delivered financially for the bank, with $8.9 million to date repaid and not a single default.

Ensuring Compliance

At Regions, Mullins and his team were originally hired to monitor risk, and that continues to be a big part of what they do. All banks must comply with the Community Reinvestment Act (CRA), which was passed by Congress in 1977 in part to combat redlining, “a practice in which a mortgage lender denies loans or an insurance provider restricts services to certain areas of a community, often because of the racial characteristics of the applicant’s neighbourhood.”1

Bank deposit boxes; image by Tim Evans

As American Banker noted recently, banks are scrambling to hire tech-savvy professionals who can create digital maps with multiple layers of data—loan rates, levels of homeownership, spending habits, and more.

Noncompliance can tarnish a bank’s reputation—and bring business growth to a standstill. When a bank falls out of compliance, the federal government freezes all acquisitions and expansions, which is what happened to Regions in late 2015. Regions discovered that it had erroneously charged $49 million in overdraft fees. On its own, Regions reimbursed customers and reported the issue, but nonetheless, its CRA rating was lowered to Needs to Improve. Expansion plans for 2016 were paused for three quarters until the rating could be raised.

Perhaps partly because Regions self-reported the issue and partly because of the bank’s commitment to serving its communities well, in 2016 Regions had the best overall reputation among top US banks and the best reputation among customers for the second year running, according to a survey from advisory firm Reputation Institute and American Banker. And this year, Regions was named a Gallup Great Workplace Award winner for the third year in a row.

In 2014, the bank had dealt with a different kind of compliance issue—and an erroneous one at that—but its use of location analytics brought clarity, precision, and a fast resolution. A CRA complaint was filed accusing the bank of redlining in a low-income area of Houston. Regions plugged the location information into its GIS software and discovered that the complainant was correct: no residential loans had been made in the tract in question. The reason? The location consisted of polluted brownfields, not homes. (See map at right.)

A map showing location analytics for Regions Bank in the Houston region

“It was apparent really quick that that was industrial wasteland. There was no one there to loan to at all,” says Lamar Jeffries, Regions’ CRA administrator. Responding to the complaint was quick work as well. “A map and a short write-up of your slide and, boom, you’re done,” he says.

‘We Can Do Both’

More often, however, Regions and other banks are using the capabilities of location analytics to quickly match lower-income customers with affordable products and ensure that bank branches serve neighborhoods that might once have been ignored. Digital transformation may, in fact, be helping the industry become more consumer centric by personalizing financial offerings for both low- and high-income customers.

“I think if you harness the technology to really understand your customer, understand where you’re operating, understand what makes your business good, I think you can do both. I think we can do what’s right for the underbanked and stay in areas that don’t have a lot of options and still grow our business,” Mullins says. “I think Regions as a bank has proven that.”

 

References

  1. Encyclopedia Britannica. https://www.britannica.com/topic/redlining

About the author

Alex Martonik

Alexander Martonik is a commercial industry specialist at Esri. Martonik is responsible for executing global marketing strategies in risk management for banking, insurance, and real estate. Martonik graduated with distinction from the national cyber security studies masters program at California State University San Bernardino. Prior to that, he graduated from the University of Redlands with a degree in government.

Источник: https://www.esri.com/about/newsroom/publications/wherenext/regions-bank-enlists-location-analytics-to-do-well-by-doing-good/

Owning a home is one of those big life dreams. There are benefits across the board—a place to call your own, equity, tax advantages. It’s also likely the largest investment you’ll ever make, and those monthly mortgage payments can feel like they’ll never end (thank you, interest).

It may not seem like it now, but paying off your mortgage faster is not only possible, but it has some major perks. “It can allow you to put that money towards other things in your home, such as major renovations, and lets you start setting aside money for long-term goals like retirement,” says Nancy Almodovar, president and CEO of Nan and Company Properties. Another advantage: all the money you’ll save on interest in the long run.

With some smart financial strategies up your sleeve and services from the pros at Regions Bank—one of the nation’s largest full-service providers of consumer banking, wealth management and mortgage products and services—you can start moving that sky-high sum closer and closer to zero.

Increase your monthly payments.

If you are able to increase your monthly mortgage payments, you’ll shorten the loan term period and be able to acquire equity faster, Almodovar says. For example, according to the experts at Regions Bank, if you added $50 a month to a 30-year fixed rate loan of $200,000 at six percent, it would cut the term by three years and save you more than $27,000 in interest.

Almodovar advises to keep in mind that when you’re paying more than your required monthly payments, you should give your mortgage company a heads up. “Let your mortgage company know to apply that extra money towards the principal balance you owe on the mortgage,” she explains. “Otherwise, they might just credit it to next month's payment, which means your extra money is going towards principal—and also interest—so the principal won't be paid off as quickly.” Regions Bank has a handy mortgage calculator that can help you figure out how much time you can cut from your mortgage loan period.

Schedule extra payments.

Maybe increasing your mortgage payments every month just isn’t realistic for your budget or lifestyle. In that case, you might consider making extra payments here and there throughout the year, depending on your available cash flow (say, from a work bonus or your tax return). Again, if you do go this route, make sure you talk to your lender. You’ll need to specify that the additional funds should go solely towards the principal of your mortgage—otherwise, they may put them towards the interest only.

Think about refinancing your mortgage.

Beecher LaFrance

“Interest rates are at an historical low,” Almodovar says, so it might be time to think about refinancing your mortgage. In order to keep monthly payments lower, many borrowers choose a longer term (usually 30 years) in which to pay back the money they’ve borrowed. But as the years go on, you might find that you’re earning more income, have additional cash flow at your disposal, or want to take advantage of lower interest rates. In that case, you might consider refinancing your mortgage loan.

If interest rates drop and you just want to lower your monthly payment, you can refinance for the same term. Alternatively, refinancing for a shorter term will increase your monthly payments, but in the end, you’ll pay less interest. Be aware that, when you refinance your mortgage, you’re essentially replacing an existing mortgage with a new one, which means there are fees associated with the deal, including title insurance, escrow fees, lender fees, appraisal fees, and more. According to experts at Regions Bank, this can typically cost between three to six percent of your outstanding loan.

A good rule of thumb: if you can reduce your rate by two percentage points, then refinancing may be in your best interest. Regions Bank can help you figure out if it is a good idea with this tool, and let you compare loan terms by using this calculator.

Consider a different type of loan.

Regardless of whether you’re purchasing your first home or refinancing an existing one, there are two primary mortgage loan options to choose from: a fixed-rate mortgage or an adjustable-rate mortgage.

A fixed-rate mortgage charges the same interest rate throughout the lifespan of a loan. The advantage to a fixed-rate mortgage is the borrower is protected from rising interest rates, which can increase monthly payments. However, when interest rates are higher, it can be more difficult to qualify for a loan because monthly payments are higher.

An adjustable-rate mortgage (ARM) is one where rates can fluctuate. Payments are generally based on a set rate for a specific period of time—often three or five years—after which the rate (and monthly payment) can change. According to Regions Bank, an ARM can be advantageous if you know you won’t be staying in your home long or only until the fixed-rate period ends.


To find the mortgage solution that best fits your family, visit Regions.com/mortgage for advice and tools, or to schedule an appointment with one of their pros today. This article was sponsored by Regions Bank, Member FDIC, Equal Housing Lender.

This content is created and maintained by a third party, and imported onto this page to help users provide their email addresses. You may be able to find more information about this and similar content at piano.io

Источник: https://www.housebeautiful.com/design-inspiration/real-estate/a36802109/4-simple-strategies-for-paying-off-your-mortgage-faster/

Regions Bank Mortgage Rates, Fees & Info

Outside of Metro Areas 7,845$1,210,165,000$154,259$2,3603.63%BIRMINGHAM-HOOVER, AL 4,667 $1,187,265,000$254,396$2,6633.40%NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 4,299 $1,087,195,000$252,895$2,6813.66%ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 3,060 $1,036,140,000$338,608$3,5423.43%TAMPA-ST. PETERSBURG-CLEARWATER, FL 2,898 $759,610,000$262,115$3,8563.57%MIAMI-MIAMI BEACH-KENDALL, FL 1,466 $490,720,000$334,734$5,1723.30%CHARLOTTE-CONCORD-GASTONIA, NC-SC 713 $401,565,000$563,205$4,6533.07%INDIANAPOLIS-CARMEL-ANDERSON, IN 1,588 $388,520,000$244,660$2,5083.45%JACKSONVILLE, FL 1,071 $385,965,000$360,378$5,1963.28%ST. LOUIS, MO-IL 2,014 $328,690,000$163,203$1,9973.64%ORLANDO-KISSIMMEE-SANFORD, FL 1,043 $303,105,000$290,609$4,0583.59%KNOXVILLE, TN 1,510 $276,340,000$183,007$2,5813.71%NEW ORLEANS-METAIRIE, LA 1,082 $275,060,000$254,214$3,6503.56%CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 645 $261,075,000$404,767$4,5283.59%LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 1,175 $255,425,000$217,383$2,2973.43%AUSTIN-ROUND ROCK-GEORGETOWN, TX 364 $244,300,000$671,154$6,1803.26%HOUSTON-THE WOODLANDS-SUGAR LAND, TX 772 $241,920,000$313,368$4,3633.52%MEMPHIS, TN-MS-AR 1,450 $241,840,000$166,786$2,5753.72%NORTH PORT-SARASOTA-BRADENTON, FL 795 $225,265,000$283,352$4,1503.42%DAPHNE-FAIRHOPE-FOLEY, AL 971 $224,155,000$230,850$2,8883.55%CHATTANOOGA, TN-GA 1,039 $204,545,000$196,867$2,3783.71%CHARLESTON-NORTH CHARLESTON, SC 439 $200,925,000$457,688$3,2983.30%BATON ROUGE, LA 778 $185,570,000$238,522$3,3523.49%HUNTSVILLE, AL 1,044 $181,000,000$173,372$3,0903.48%DALLAS-PLANO-IRVING, TX 338 $177,540,000$525,266$4,4283.55%WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 26 $172,880,000$6,649,231$4,5532.82%PENSACOLA-FERRY PASS-BRENT, FL 732 $170,300,000$232,650$3,5323.62%FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 430 $160,900,000$374,186$4,8293.43%MOBILE, AL 913 $128,315,000$140,542$2,2533.68%COLUMBIA, SC 404 $121,210,000$300,025$3,3023.19%FAYETTEVILLE-SPRINGDALE-ROGERS, AR 458 $115,720,000$252,664$2,6723.35%FORT WORTH-ARLINGTON-GRAPEVINE, TX 195 $115,465,000$592,128$4,2563.48%RALEIGH-CARY, NC 306 $111,590,000$364,673$3,2953.17%DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 466 $110,970,000$238,133$4,1133.51%JACKSON, MS 658 $107,430,000$163,267$2,2193.68%CAPE CORAL-FORT MYERS, FL 431 $107,075,000$248,434$3,9883.44%CHICAGO-NAPERVILLE-EVANSTON, IL 360 $106,000,000$294,444$3,0643.28%MONTGOMERY, AL 584 $104,630,000$179,161$2,1193.57%BALTIMORE-COLUMBIA-TOWSON, MD 2 $99,760,000$49,880,000$03.17%ATHENS-CLARKE COUNTY, GA 310 $92,570,000$298,613$4,6013.12%PANAMA CITY, FL 427 $91,045,000$213,220$3,5913.54%SEATTLE-BELLEVUE-KENT, WA 1 $85,505,000$85,505,000$03.27%AUGUSTA-RICHMOND COUNTY, GA-SC 458 $80,340,000$175,415$3,1263.50%WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 236 $74,530,000$315,805$4,5483.62%SHREVEPORT-BOSSIER CITY, LA 382 $73,380,000$192,094$2,9173.64%JACKSON, TN 531 $72,685,000$136,883$2,2873.47%TUSCALOOSA, AL 375 $66,855,000$178,280$2,3333.39%GREENVILLE-ANDERSON, SC 246 $64,760,000$263,252$2,9513.27%WILMINGTON, NC 79 $63,465,000$803,354$3,7983.09%CINCINNATI, OH-KY-IN 257 $60,075,000$233,755$2,5873.24%GAINESVILLE, GA 264 $59,050,000$223,674$3,2623.59%OCALA, FL 365 $56,655,000$155,219$2,1023.92%NAPLES-MARCO ISLAND, FL 147 $53,405,000$363,299$4,4233.51%FLORENCE-MUSCLE SHOALS, AL 332 $51,470,000$155,030$2,0743.57%LAFAYETTE-WEST LAFAYETTE, IN 322 $48,190,000$149,658$2,2513.54%GULFPORT-BILOXI, MS 280 $47,590,000$169,964$3,0703.52%PUNTA GORDA, FL 234 $45,150,000$192,949$3,7333.54%DENVER-AURORA-LAKEWOOD, CO 35 $44,255,000$1,264,429$2,9403.24%PALM BAY-MELBOURNE-TITUSVILLE, FL 217 $43,085,000$198,548$3,4083.73%COLORADO SPRINGS, CO 4 $42,960,000$10,740,000$4,5673.41%WINSTON-SALEM, NC 20 $41,790,000$2,089,500$2,8793.43%DURHAM-CHAPEL HILL, NC 85 $38,285,000$450,412$3,8623.07%AUBURN-OPELIKA, AL 157 $37,155,000$236,656$2,7603.39%HATTIESBURG, MS 234 $35,150,000$150,214$2,2973.53%DECATUR, AL 299 $35,135,000$117,508$1,7473.74%SAN ANTONIO-NEW BRAUNFELS, TX 112 $34,720,000$310,000$4,5123.33%DOTHAN, AL 249 $33,505,000$134,558$1,8103.69%NEW BRUNSWICK-LAKEWOOD, NJ 1 $33,505,000$33,505,000$02.96%HOT SPRINGS, AR 183 $31,815,000$173,852$2,1313.53%LAFAYETTE, LA 149 $31,735,000$212,987$3,6523.39%OXNARD-THOUSAND OAKS-VENTURA, CA 1 $30,805,000$30,805,000$02.48%HILTON HEAD ISLAND-BLUFFTON, SC 108 $30,610,000$283,426$3,4303.55%CLARKSVILLE, TN-KY 213 $29,465,000$138,333$1,7513.79%TYLER, TX 116 $29,150,000$251,293$3,3683.54%FORT SMITH, AR-OK 182 $25,130,000$138,077$2,1413.46%CLEVELAND, TN 179 $24,835,000$138,743$1,7433.67%DALTON, GA 214 $24,050,000$112,383$1,7223.75%KINGSPORT-BRISTOL, TN-VA 197 $24,035,000$122,005$2,0983.63%TALLAHASSEE, FL 124 $22,610,000$182,339$2,7573.62%SPRINGFIELD, MO 148 $22,490,000$151,959$2,2353.55%JOHNSON CITY, TN 160 $22,380,000$139,875$2,3043.81%LOUISVILLE/JEFFERSON COUNTY, KY-IN 146 $22,210,000$152,123$2,3623.52%HOUMA-THIBODAUX, LA 136 $21,940,000$161,324$3,1913.66%BLOOMINGTON, IN 81 $21,165,000$261,296$2,9363.35%LAKELAND-WINTER HAVEN, FL 128 $21,100,000$164,844$2,9913.73%GADSDEN, AL 139 $20,715,000$149,029$1,6463.69%MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 54 $19,660,000$364,074$3,5063.16%HOMOSASSA SPRINGS, FL 153 $18,885,000$123,431$2,5723.95%ASHEVILLE, NC 46 $18,310,000$398,043$3,8223.46%ANNISTON-OXFORD, AL 168 $17,880,000$106,429$1,6663.74%DECATUR, IL 171 $17,355,000$101,491$2,2663.50%GREENSBORO-HIGH POINT, NC 25 $16,805,000$672,200$2,9413.26%TEXARKANA, TX-AR 137 $16,665,000$121,642$2,3143.53%MORRISTOWN, TN 116 $16,550,000$142,672$2,7093.76%JONESBORO, AR 127 $15,915,000$125,315$1,8233.86%CAPE GIRARDEAU, MO-IL 144 $15,330,000$106,458$1,3803.69%GAINESVILLE, FL 66 $13,990,000$211,970$3,4753.52%PORT ST. LUCIE, FL 40 $13,710,000$342,750$4,8653.25%EVANSVILLE, IN-KY 76 $12,990,000$170,921$2,7123.54%KANSAS CITY, MO-KS 49 $12,905,000$263,367$2,3733.37%MONROE, LA 83 $12,485,000$150,422$2,4914.04%ALEXANDRIA, LA 70 $11,190,000$159,857$2,5433.74%DES MOINES-WEST DES MOINES, IA 70 $10,940,000$156,286$2,0943.66%HAMMOND, LA 72 $10,840,000$150,556$3,1223.57%COLUMBIA, MO 62 $10,400,000$167,742$2,5023.61%ROME, GA 74 $9,060,000$122,432$1,7873.98%COLUMBUS, GA-AL 69 $8,505,000$123,261$3,1623.57%HICKORY-LENOIR-MORGANTON, NC 21 $8,415,000$400,714$3,8693.14%THE VILLAGES, FL 46 $7,830,000$170,217$3,2183.58%SPARTANBURG, SC 45 $7,555,000$167,889$2,7893.75%SAVANNAH, GA 31 $7,335,000$236,613$2,8993.44%CARBONDALE-MARION, IL 79 $6,775,000$85,759$1,5303.72%JEFFERSON CITY, MO 63 $6,665,000$105,794$1,8173.92%SPRINGFIELD, IL 49 $6,635,000$135,408$2,4033.49%BRUNSWICK, GA 18 $6,560,000$364,444$5,1423.26%PEORIA, IL 50 $6,390,000$127,800$1,2433.69%LYNCHBURG, VA 4 $6,160,000$1,540,000$5,0833.04%LEXINGTON-FAYETTE, KY 17 $5,695,000$335,000$3,2133.21%GOLDSBORO, NC 21 $5,685,000$270,714$2,5393.22%VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 12 $5,540,000$461,667$3,4262.94%ELGIN, IL 21 $5,525,000$263,095$2,9893.27%CHAMPAIGN-URBANA, IL 33 $5,455,000$165,303$2,5003.45%CORPUS CHRISTI, TX 13 $5,225,000$401,923$4,2873.26%LAKE COUNTY-KENOSHA COUNTY, IL-WI 18 $5,140,000$285,556$2,9343.23%KOKOMO, IN 46 $4,740,000$103,043$1,7793.68%WACO, TX 11 $4,555,000$414,091$5,6843.65%BLOOMINGTON, IL 35 $4,305,000$123,000$1,8193.35%LONGVIEW, TX 36 $4,220,000$117,222$1,7853.94%TERRE HAUTE, IN 38 $3,980,000$104,737$1,8963.39%WATERLOO-CEDAR FALLS, IA 43 $3,825,000$88,953$1,5983.75%ALBANY, GA 29 $3,565,000$122,931$2,7333.85%SEBASTIAN-VERO BEACH, FL 12 $3,410,000$284,167$3,3683.66%VALDOSTA, GA 17 $3,065,000$180,294$2,3233.40%LAKE CHARLES, LA 9 $2,935,000$326,111$3,9893.51%AMARILLO, TX 5 $2,665,000$533,000$6,4993.33%BEAUMONT-PORT ARTHUR, TX 4 $2,660,000$665,000$5,0063.30%GREENVILLE, NC 9 $2,605,000$289,444$3,4863.10%COLUMBUS, OH 9 $2,495,000$277,222$2,3603.08%DAYTON-KETTERING, OH 12 $2,480,000$206,667$3,3193.17%LUBBOCK, TX 7 $2,445,000$349,286$4,2993.13%MACON-BIBB COUNTY, GA 11 $2,445,000$222,273$2,8043.17%GARY, IN 15 $2,425,000$161,667$2,7113.57%BOWLING GREEN, KY 12 $2,400,000$200,000$2,7773.23%JACKSONVILLE, NC 6 $2,330,000$388,333$3,6503.02%COLLEGE STATION-BRYAN, TX 9 $2,205,000$245,000$6,2663.58%MCALLEN-EDINBURG-MISSION, TX 7 $2,085,000$297,857$3,9713.54%FAYETTEVILLE, NC 9 $2,045,000$227,222$3,5923.10%BOULDER, CO 4 $2,000,000$500,000$3,5552.94%ROANOKE, VA 6 $1,980,000$330,000$2,6822.79%CEDAR RAPIDS, IA 24 $1,940,000$80,833$9733.87%KILLEEN-TEMPLE, TX 13 $1,845,000$141,923$2,3873.76%CLEVELAND-ELYRIA, OH 6 $1,830,000$305,000$3,6012.83%IOWA CITY, IA 5 $1,755,000$351,000$2,3873.38%RICHMOND, VA 7 $1,675,000$239,286$4,0703.29%GREELEY, CO 5 $1,665,000$333,000$2,9523.08%DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 4 $1,630,000$407,500$2,9003.16%COLUMBUS, IN 8 $1,530,000$191,250$2,1263.25%WARNER ROBINS, GA 6 $1,510,000$251,667$4,7173.04%CHARLOTTESVILLE, VA 4 $1,510,000$377,500$2,2393.09%JOPLIN, MO 7 $1,505,000$215,000$2,5403.41%SHERMAN-DENISON, TX 3 $1,305,000$435,000$4,9263.04%ROCKY MOUNT, NC 4 $1,300,000$325,000$3,6973.13%MIDLAND, TX 4 $1,300,000$325,000$6,6453.53%SUMTER, SC 5 $1,275,000$255,000$3,2183.30%BURLINGTON, NC 4 $1,210,000$302,500$2,7363.16%OKLAHOMA CITY, OK 6 $1,200,000$200,000$3,0113.06%NEW BERN, NC 2 $1,160,000$580,000$3,4112.81%MUNCIE, IN 6 $1,080,000$180,000$1,6913.44%AMES, IA 2 $1,040,000$520,000$1,0503.81%SEBRING-AVON PARK, FL 4 $970,000$242,500$4,0873.03%PINE BLUFF, AR 7 $875,000$125,000$3,0173.50%LAREDO, TX 4 $860,000$215,000$3,3703.44%CANTON-MASSILLON, OH 2 $820,000$410,000$5,7793.06%BROWNSVILLE-HARLINGEN, TX 3 $795,000$265,000$3,4233.75%MICHIGAN CITY-LA PORTE, IN 2 $750,000$375,000$2,5852.94%EL PASO, TX 4 $700,000$175,000$3,1883.16%SOUTH BEND-MISHAWAKA, IN-MI 4 $660,000$165,000$2,6013.34%KANKAKEE, IL 4 $630,000$157,500$2,5703.88%FORT WAYNE, IN 5 $575,000$115,000$2,9653.58%VICTORIA, TX 1 $545,000$545,000$6,1794.13%SALT LAKE CITY, UT 2 $500,000$250,000$2,9902.88%HINESVILLE, GA 4 $490,000$122,500$2,5434.75%ROCKFORD, IL 1 $415,000$415,000$2,9083.13%ELIZABETHTOWN-FORT KNOX, KY 3 $385,000$128,333$2,0304.00%ST. JOSEPH, MO-KS 1 $375,000$375,000$2,5082.50%PROVO-OREM, UT 1 $375,000$375,000$2,2832.88%WHEELING, WV-OH 1 $375,000$375,000$4,1232.38%WICHITA FALLS, TX 2 $370,000$185,000$3,5993.00%TULSA, OK 2 $350,000$175,000$3,7342.69%FLORENCE, SC 3 $325,000$108,333$2,0593.79%SPRINGFIELD, OH 1 $325,000$325,000$9712.88%WICHITA, KS 2 $290,000$145,000$3,0642.88%DUBUQUE, IA 1 $285,000$285,000$2,3062.63%OGDEN-CLEARFIELD, UT 1 $275,000$275,000$2,7083.75%FORT COLLINS, CO 1 $275,000$275,000
Источник: https://originationdata.com/institution/EQTWLK1G7ODGC2MGLV11

Regions Mortgage

Rated with 1 star
Michelle of Loganville, GA Verified Reviewer
Original review: June 28, 2021

My partner and I had a home loan that was sold to Regions Mortgage. A couple of years in my partner unfortunately had to file bankruptcy. The house, which was in both our names, was not included in his bankruptcy in any way, and the payments had never been made a day late or a dollar short. We were always current and enrolled in auto-pay, but because he filed, Regions took away any access I had online to view our account or make a payment. They tacked on $950 for "attorney fees", even though the house was NOT included in the bankruptcy, and made it nearly impossible for me to even make the monthly payment. I can't pay online or through their automated phone service.

The statements don't come now until a couple of days before the due date so I don't have time to mail a check. I have to call in every month, get transferred around and asked to verify the same information multiple times, and then they seem genuinely surprised that I actually want to give them money. They no longer report the account at all on my credit file (I did not file with him), so I don't get any credit for paying my mortgage. It's like they would rather have us just get past due and then foreclosed on than to continue making our payment on time and in full every month. Go figure!

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Rated with 1 star
Pamela of Cleveland, TN Verified Reviewer
Original review: June 22, 2021

Contacted Regions Mortgage and requested payoff for HELOC. Received email titled, "payoff request" with letter attached. Took the letter and check for the amount to the branch same day. Cancelled check shows processed same day; however, about a week later rec'd a statement with an amount due for interest on the same day of payment. Called and spoke with 3 different people on 5 separate occasions and was told by a "supervisor" he would send to research department to get the undue interest removed. Five days later I called back because he never called me with status as he offered, and I was told I was sent the incorrect payoff letter and was sent a "paydown" letter instead. The amount was the full amount due on the account but the daily interest accrued for the date of the letter...blah, blah, blah and I needed to pay that interest.

I've closed all accounts with Regions, deposit accounts & HELOC and will never do business with them again. In the past 15 years, I've paid off two mortgages and one HELOC with them, always on time and always with a payment that was more than what was due. Unfortunate for them to lose a great customer over pennies.

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Rated with 1 star
Julia of Decatur, AL Verified Reviewer
Original review: June 7, 2021

A few days ago we received a notice that our payment was overdue. However, in looking at our checking account, which is with Regions, we were able to verify that the check had cleared over a week before the payment was due. Regions Mortgage, however, has now taken over a week to "research" the matter and are still not able to tell us where the payment has gotten to. Needless to say, we are very unhappy with Regions Mortgage. We have also been told that the two--Regions Bank and Regions Mortgage--do not play well together. That is to say it takes an act of Congress, apparently, for Regions Mortgage to look at our Regions Bank checking account and see that, yes, a check was written to Regions Mortgage and cleared the checking account in a very efficient manner. It's hard to understand what is taking so long. At this point, I do not recommend Regions Mortgage.

Rated with 1 star
Richard of Myrtle Beach, SC Verified Reviewer
Original review: Feb. 6, 2021

I am looking to refinance my current home loan and have excellent credit. One of my friends is a loan officer for Regions and the rate and closing costs were what I was looking for. I started the process in December of 2020. It is now February and still no closing date set. No one returns calls or emails but they were quick to send out an appraiser and charge me $450.00 to get things started. Sadly I'm looking to other financial institutions at this point. I owe less than 45% of my home's appraised value and was looking for a 15 year loan with 10K equity washout to upgrade the HVAC system. Don't waste your time with this bank.

Rated with 1 star
Bob of Canton, GA Verified Reviewer
Original review: Jan. 14, 2021

Don't waste your time with anyone at Regions. I firmly believe they have training classes on how to ignore and irritate their customers. Started a loan process 45 days ago for a CP loan within one of the Atlanta branches. After a closing date was set I get a note from him saying the contract with the builder. He said Regions would need an updated contract but would not indicate what needed to be fixed. All this comes after 45 days when it should have happened in the first week. The 45 days it took to get to this point could have easily been done in 10 days but both the loan officer and his sidekick respond to emails after about 3 or 4 days. I have since tried to call 3 other loan officers in branches near me looking to switch the application over to them and no one answers their phone, returns calls, or responds to emails. Looks like Regions systemically has a policy of poor customer service. DON'T WASTE YOUR TIME with these people.

Rated with 1 star
Miguel of Miami, FL Verified Reviewer
Original review: Nov. 17, 2020

My Bad experience began when I started my home loan process in beginning of June with a loan officer by the name of Samuel **. I got approved and I turned in all necessary documents. My file got lost between Maria ** (Mortgage Loan Coordinator) and Samuel, I had to resend several times documents because Maria lost them. There are also a few times that she got me confused with other customers, By November 8, 2020 I received a denial letter for something that it's not on my credit report, I emailed Maria ** and Her answer was "Please contact Samuel **", After a couple of phone calls and emails, I realized that He was clueless and He was NOT able to Help me. I do not recommend to anyone to use the team located in Miami Fl,.

Rated with 1 star
April of Talking Rock, GA Verified Reviewer
Original review: Sept. 24, 2020

I have reached out to several so called employees in this company to see about refinancing a loan we have with them. We have great credit and history. They give us the most runaround and do NOT return emails. This is insane. There is no one, at least in the mortgage department that cares about the customer so find another company.

Rated with 1 star
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Jennifer of Altamonte Springs, FL Verified Reviewer
Original review: Sept. 17, 2020

Back in 2009 we took out a mortgage with Regions. We signed papers for a fixed rate loan. They lied & gave us a variable rate interest only loan!!!! When I would enquire as to why our mortgage amount wasn't going down, the reps would tell me that the interest is paid first & then our payment would go down. I was so stupid to believe this. After 10 years & paying literally $200,000 on this loan, I received notice that our payments would now basically double! I went in to a local branch & was told that we had a balloon mortgage. We never agreed to this. A complete scam.

Rated with 1 star
CYNDI of Baton Rouge, LA Verified Reviewer
Original review: Aug. 31, 2020

On June 24, 2020 a HELOC was applied for, but keep in mind that today is August 31, 2020. I wasted 9 1/2 weeks trying to obtain a loan with Regions Bank. I never thought about looking at reviews for banks or mortgage companies, but after the sour, time-wasting experience with Regions Bank, I'll never do business with another financial institution without looking at their reviews first.

After obtaining an appointment with Valleen ** at the Sherwood Branch in Baton Rouge, the 1st red flag was that she was being trained by Jessica **. I accompanied my son who owns a home free and clear, has AAA credit and a COVID resistant, dependable long-term source of income to apply for a loan. We filled out all of the necessary paperwork and submitted the required documents only to be asked again and again for more information. This was Red Flag #2. No problem, the loan process is what it is, but all necessary documentation should be requested upfront, not on a daily basis.

We're told the loan is approved, given a loan number and are required to add the Regions loan number to the insurance binder, which we gladly do. This should've been Red Flag #3, because the loan process was still ongoing. Now, these Demons won't assist with removing the loan number. In the middle of the slowest, most confusing process I've ever been party to, the branch closes for two weeks and I'm told Jorge ** at a nearby location will be handling the loan process while the original loan officer Valleen ** and here trainer Jessica ** are at home. Really, with today's technology we can't work from home?! This definitely was Red Flag #4.

We're more than a month into the process when finally an appraisal is ordered for the property, but wait Regions doesn't want to the know the true value of the property, because they only require an outside appraisal, more commonly known as a drive-by-appraisal...are you kidding me?! This was unbelievable Red Flag #5.

Of course, each lender has a list of approved appraisers who they're willing to work with, but if your appraiser's work is in question you should be willing to take a second opinion. An appraisal had been submitted on the home in May 2018, but the Region's approved appraiser came back with a value $45K less. I requested that Regions have their appraiser do a full evaluation of the inside of the property, but they declined and would only offer half of what we were seeking to borrow and clearly that was their strategy from day one. Red Flag #6 is as clear as day when the lender doesn't want to know the true value of a property!

After looking at the comps in the area of homes that recently sold, I knew the ones used by Regions appraiser Kerry ** of Area Real Estate Appraisals was inferior and inaccurate. Mrs ** did not list the most recent like-for-like-property sales in the area, instead opting to use a 2019 sale of a wood construction home when ours is brick construction. She too was most unprofessional ignoring phone messages and refusing to communicate about the appraisal she stamped her name on.

Therefore, I decided to have my own evaluation done by a certified appraiser and submitted it to Regions only to be ignored for several days. Today, I called to find out if the underwriters would accept and consider the appraisal only to have phone games played. I left messages for Valleen ** and Jorge ** who both were conveniently unavailable. After calling from a different number five minutes later, I finally got Jorge on the phone who said yes he saw my email, but gave no reason for his lack of response.

Valleen ** has not responded to my email nor returned my phone calls, which just shows the lack of respect and professionalism of the institution. Jessica ** called instead knowing full well why I was attempting to make contact, but played the dumb card and with the vein of previous lack of professionalism shown hung up on me when she couldn't answer simple consumer questions. Don't waste your time with Regions Bank and don't fall for the fake I'm here to walk you through the process narrative. These people are only in the business of lining their own pockets and if their shyster underwriters say no you are on the do not call or communicate with list. I'm with everybody else, if I could give zero stars, I certainty would! The only reason these people able to sleep at night is because they have no soul!

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Rated with 1 star
Kelsey of Carbondale, IL Verified Reviewer
Original review: July 22, 2020

Where do I even begin.. Well we started our home loan process beginning of April with a loan officer by the name of Deborah. We got approved and we were turning in all necessary documents. There were several times I had to resend documents because Debbie said she had lost them. There are also a few times that she got me confused with other customers. She emailed me once telling me my credit score was too low even though we had already been through my credit score being great. She was not very responsive, took weeks to get back to us about anything. I would continually ask her if there was anything else she needed and she would respond that she was waiting for underwriting. When she would get back to us it would come back that there was a problem with something. We would try to fix the problem and told her everything would be fine now.

We had a closing date set at least four times that would get extended because another problem would arise. One of the last issues was that our debt to income ratio was too high. We paid off $8,000 in debt because that is what she told us we needed to make it work. We waited to hear from underwriting once more to finalize it. She then told us that she hadn't included property taxes, so the debt to income ratio was still too high. she said she was at her "wit's end" at this point. It is now the end of July. The process was dragged on for 4 months. It was a terrible experience, that left us feeling very stressed out and defeated. Now we are at the point that we can't even get the house because it has been extended so much and the sellers don't want to extend it anymore.

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Источник: https://www.consumeraffairs.com/finance/regions_mortgage.html

Regions Financial Corp or SunTrust Banks, Inc.: Which Bank Has the Bigger Profit Engine?

Regions Financial(NYSE: RF) and SunTrust Banks(NYSE: STI) are pretty simple to understand. Both are regional banking players that make the majority of their money through lending. You won't find any London Whales, or high-flying investment banking divisions here.

With these banks, you'll find mortgages, commercial real estate, and business loans. You'll find deposit accounts and wealth-management options for everyday consumers. You'll find treasury management services for small and middle-market businesses. For a complete review of Region's business, click here.

If we all agree then that the traditional bank business model is what matters for these two banks, then to really understand the engine that drives profits, we must understand the two bank's net interest margins. Net interest margin is the difference between the bank's interest income from loans and the interest expense the bank pays out to depositors. 

When analyzing banks like SunTrust and Regions, with assets north of $180 billion and $115 billion respectively, a few basis points in change can have a truly gigantic impact on profits in raw dollar terms. 

Taking the long view, when interest rates begin to rise again in a few years, the banks that have strong net interest margins will be the institutions that see the greatest revenue and profit growth from that change in monetary policy. 

Want to know which banks will be the most profitable in five years? Start by looking at net interest margin.

In the video below, Motley Fool contributor Jay Jenkins takes a deep dive into the numbers for both Regions and SunTrust. On the surface, the banks look fairly similar; but Jay points out a few key differences that could be make or break for the long-term investor.

Источник: https://www.fool.com/investing/general/2014/07/30/regions-financial-suntrust-banks-stock.aspx

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There's no better time to review your current mortgage than when rates are low or expected to drop. Whether you're looking to pay off your loan faster, consolidate debt or gain stability, refinancing your mortgage loan may be a great way to achieve your goals. Get a personalized plan and find out which option works best for you by reaching out to one of our expert mortgage lenders.

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Источник: https://www.firstcommunitysc.com/personal/mortgages

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