BIRMINGHAM, Ala.--(BUSINESS WIRE)--Many people need a helping hand when buying a first home, and with Regions Bank’s (NYSE:RF) new First Time Home Buyers Program, there is help for qualified borrowers.
The Regions First Time Home Buyers Program is designed to help borrowers overcome some of the obstacles that can make buying a first home difficult. The program offers a fixed rate mortgage with no closing costs to the borrower (excepting pre-paid items). Closing costs are paid by Regions and not rolled into the loan amount.
“We think this program is ideal for so many first time home buyers. Many times, first time home buyers have limited funds available for closing, and this program can help free up more of their funds for down payments, savings or emergencies,” according to Logan Pichel, Head of Regions Consumer Lending.
In addition to the attractive terms of the program, the First Time Home Buyers Program also features a required home buyer counseling program – similar to many HUD or other government-guaranteed loans – provided to help borrowers understand budgeting and other necessities once they become homeowners.
The First Time Home Buyers Program also features:
- Up to 95 percent LTV (loan-to-value) for purchase of primary residences on homes
- Down payment options that allow for assistance from family members
- Options for borrowers with no traditional credit history
For more information on the First Time Home Buyers Program or to schedule an appointment with a mortgage banker, visit www.regions.com.
Equal Opportunity Housing Lender, Member FDIC: All loans subject to qualification, required documentation and credit approval. Certain exclusions may apply. Loan terms and availability subject to change.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $119 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, mortgage, and insurance products and services. Regions serves customers in 16 states across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,700 banking offices and 2,000 ATMs. Investment banking and business advisory services are offered through Regions Securities LLC. Member FINRA & SIPC. Additional information about Regions and its full line of products and services can be found at www.regions.com.